Pre-Authorized Checking FAQs

1. What kinds of companies will Pre-Authorized Checking work for?

   The answer is simple, if a business takes payments PAC will work for
   them. Whether it is automating their recurring monthly payments,
   helping to collect slow pay accounts, or offering an in-house payment
   plan to potential customers PAC is the unique low cost tool that any
   business can use to increase profits.

2. Can this program work for me if the amount billed to the customer is different each month?

   Our PAC system works well in situations in which the amount owed by
   customers varies from month to month. The only difference in the
   program is that the business would need to send out a monthly statement
   to their customers with varying payments to let them know the amount to
   be drafted so they could make a note in their checkbook register.

3. How do you collect from me?

   We use the same technology to collect from businesses using PAC that
   they use to collect from their customers. Peak Profit Solutions LLC
   simply creates a bank draft from the business’ account for the amount
   of the combined service fees for a given month.

   Here is an example to make this absolutely clear.

   Say that a business has 50 customers on the Pre-Authorized Checking
   service. The monthly invoice to each of these customers is $50 each to
   keep the math easy. 50 customers at $50 each would be a grand total of
   $2,500 collected each month using PAC. The agreed upon service fee for
   each of these drafts was $2.00, again keeping the math easy. This would
   mean that the service fees would total 50 customers times $2, or $100
   each month. In this scenario, Peak Profit Solutions LLC would hand the
   business a stack of 50 checks that totaled $2,500 each month. The next
   day, we would produce a draft, pre-authorized by the business, for the
   amount of the service fees totaling $100. The business’ net would be
   $2,400 each month.

4. How is my customer informed that the check has been submitted and cleared their account?

   A customer’s check is noted in their monthly bank statement. The check
   will be numbered as “000″ or will not be numbered at all. This prevents
   a conflict with their checkbook numbering system. The on-line bank
   account statement will refer to this transaction as a “Pre-authorized
   Check.” The customer can then balance their checkbook as usual.

5. What is the agreement between you, me, and my customers?

   Peak Profit Solutions LLC prints pre-authorized checks on behalf of
   your customers. Any contractual or cancellation clauses in the
   agreement will be settled upon prior to initiating your service. We
   will go over typical arrangements and make suggestions on a course of
   action depending on the individual needs of each business.

6. Do you have access to my customer’s or my bank account?

   Our system does not have the ability to electronically access any bank
   account information. It is a proprietary software that was developed to
   store information and print checks only.