Frequently Asked Questions

How do automatic payments work?

The Automatic Payment Plan by Bank Draft utilizes "Pre-Authorized Checking" to insure that all payments are received on time for each customer/client/patient signed up on the service. To sign up, a single page release form is completed and sent or faxed to our processing center.

On the agreed upon day each month, the pre-authorized checks will be delivered to your office, ready to be deposited into your bank account.  If you would prefer, the checks will be sent to your bank for deposit to your account on the due date.

There is no computer access into your patient's checking account. Their check is simply recreated each month on the appropriate day for deposit into your bank. It is returned with their monthly bank statement as if they wrote it. 

For businesses which process a large volume of payments, transactions are processed electronically.  Electronic transactions are entered directly into the system a web based virtual terminal.  Within 3-5 days the funds are debited from your customer's account and deposited to your account  

What are the benefits?

Businesses nationwide have been able to eliminate billing and the cost of postage, stationary, printing, and the time spent generating invoices and collecting payments. No more waiting for the checks to trickle in so you enjoy instant cash flow. This makes it much easier to manage and budget.

Your customer/client/patient saves the cost of postage and eliminates the monthly check writing chore. It also offers another payment option rather than putting the bill on a credit card.

What does it cost?

For paper bank drafts is a $99.00 setup fee and the cost of each bank draft is $1.50.  That includes printing of the checks, a detailed report, and delivery by mail. If you currently accept credit cards, our service is probably less expensive. 

Considering the time and money saved, the convenience, efficiency and excellent service, the Automatic Payment Plan is rapidly becoming one of the nation's leading methods for automatic payment processing.

Call Capital Bank Drafts at 301-262-3726 or email bankdrafts@worldnet.att.net. We will customize a program for your business.