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| Frequently Asked Questions |
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| How long does it take to get started on the service? |
| After we receive all of the required client information, it will usually
take 10 business days before we can begin funding you for receivables |
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| How does the reserve work? |
| A reserve is held to cover a portion of the
liability for your company. Refunds out of the reserve are made as customers pay the invoices to Bank Independent Billing
Service. You will have access to your reserve amounts through our online capabilities. |
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| Will my customers receive a statement from Bank Independent Billing
Service? |
| Yes, customers will receive a monthly recap
statement. You will be responsible for the customer receiving an invoice with the Bank Independent Billing Service remit
to address imprinted on it. |
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| What does "Recourse" mean?? |
| It means that your company maintains the
liability on the customer's accounts and invoices. We ask that you repurchase invoices after 90 days on our service. |
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| Will we have access to our customer's information? |
| Yes, through our website, you will be able
to generate reports on your outstanding invoices and know exactly how your customers are performing. |
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| Does Bank Independent Billing Service perform collection work? |
| Yes, we will collect on the account until the 90 day
time is up or it is determined that we cannot collect from the customer for that invoice. |
