Merchant Card Services - MERCHANT QUARTERLY UPDATES!

Mifflinburg Bank & Trust offers merchant card services that will help grow your business in an ever-changing market. Today's consumers are carrying less cash and checks and carrying more credit, debit and prepaid cards. The Mastercard/VISA merchant program offers secure, reliable, innovative card processing technology. With our merchant services offerings, you can meet the payment needs of your customers with the ability to accept Visa, Mastercard, Discover Network and other major cards. Additional benefits of working with Mifflinburg Bank & Trust include:

  • Ded icated Support - Our experienced, local professionals take a consultative approach to sales and service - it's all about you and your business goals.
  • Stability - Our card processing partner, FIS Corporation, has been successfully handling card payments since 1964.
  • Up-front Pricing - We will walk you through the details of the agreement - so there are no surprises on your billing statements. 
  • Rapid Availability of Funds - Funds from card transactions are deposited electronically into your business deposit account within two days.
  • Risk Mit igation - Our risk analysts monitor daily deposit activity to detect potential issues before they become problems.

We'll work with you every step of the way in getting you set up with the merchant solution that suits your needs. To sign up or learn more, call Mifflinburg Bank & Trust at 570-966-1041 or 888-966-6282.

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Remote Deposit

Remote Deposit provides a business with the latest technology to make bank deposits directly from the business’s location. A special scanning device and a PC Internet connection provide a secure link to your bank to “send” electronic images of checks for deposit.

Product Benefits:

  • No trip to the bank is necessary to deposit checks
  • Consolidation of checking accounts for multiple business locations
  • Immediate availability of funds
  • On line history allows easy research and eliminates making photocopies

Customer Profile: This product provides great value for businesses that:

  • Receive most or all check payments directly from their customers
  • Want to avoid making a trip to the bank.
  • Wish to expedite the availability of deposited funds
  • Seek to reduce the handling and storage of paper records
  • Want to consolidate checking accounts for multiple locations

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Lockbox Processing

Lockbox Processing provides the most efficient process for businesses to have payments deposited. Checks that are regularly mailed to you are redirected to a post office box that you own in the bank’s local area. A bank representative serving as your agent gathers the mail from the post office box and takes it directly to the bank for immediate processing. An optional service may enable direct posting of customer receipts to your accounting software.

Product Benefits:

  • No trip to the bank is necessary to deposit checks
  • Consolidation of checking accounts for multiple business locations
  • Immediate availability of funds on the day payments are received
  • On line history allows easy research and eliminates making photocopies
  • Service is secure, fast, and safe
  • Internet banking shows updated balance throughout the business day
  • Online reports are available through our Online banking product
  • Daily pick-ups from the post office
  • Download custom file to your accounting software
  • Imaged technology
  • Optional paper reports, electronic data files, check photocopies, and invoice information
  • A Corpor ate Client Officer is available for assistance

Customer Profile: This product provides great value for businesses that:

  • Receive customer payments through the mail
  • Want to avoid making a trip to the bank.
  • Wish to expedite the availability of deposited funds
  • Seek to reduce the handling and storage of paper records
  • Want to consolidate checking accounts for multiple locations
  • Want to dramatically reduce the costs of handling/processing mail

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CD File Storage

This service provides complete checking account history on an easy-to-use CD that you can view using your computer. Contains a full year of account statements, cancelled check images and complete history of all checks that you deposited.

Product Benefits:

  • Easy-to-use
  • No extra software required (software contained on CD)
  • Includes searchable database to quickly locate any check paid or deposited
  • Minimizes research time for audit or customer requests
  • Provides easy-to-store backup for disaster recovery
  • Data is secured with password protection
  • Includes all statements provided throughout the year
  • Includes all checks paid on your account
  • Includes all checks that were deposited into your account
  • Includes front and back of all checks

Customer Profile:

  • Any business regardless of size will benefit from this product

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E-Statements

Now you can receive your bank statement electronically as part of your free online banking enrollment. This new secure feature enables you to view or print your statement on the first business day following the end of your statement cycle. Thus you no longer have to wait for the mail to arrive. We also conveniently store your previous statements online, making it easy for you to review historical account information. It's fast, safe and free! Contact us to take advantage of this great service.

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Electronic Federal Tax Payment System (EFTPS)

The Electronic Federal Tax Payment System (EFTPS) is one of the most successful federal government programs undertaken in recent years. Make your tax payments no matter where you are when your taxes are due 24 hours a day, 7 days a week. Using the payment scheduling capability built into EFTPS, you can enter your payment instructions up to 120 days in advance. On the day before your scheduled use date, your payment(s) will be initiated. No more missed deadlines, coupons to keep track of or last minute trips to the bank. You can make your payments securely through EFTPS on the Internet or via a phone. It's your choice. Your enrollment allows you to use the payment options interchangeably. Federal Tax Deposits or 1-800-555-3453.

Product Benefits:

  • Millions of taxpayers are already enrolled in the system.
  • It's easy to use, fast and accurate.
  • You will have no more last-minute trips to the bank or Post Office, lost checks or missed deadlines.
  • You're in total control of initiating your tax payment securely through this site or by telephone .

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Overdraft Privilege

Overdraft Privilege helps protect you against having your items returned in the event of an inadvertent overdraft of your account by giving you a reserve for emergencies or unexpected situations. If you overdraw your account, we have the discretion to pay the overdraft, subject to the limit of your Overdraft Privilege. There is no fee for having this privilege on your account; you are only charged an overdraft fee if you overdraw your account.

Here is how overdraft privilege works for you. Suppose you do not have Overdraft Privilege and your account balance is $50. If you have a debit item for $100, Mifflinburg Bank will charge your account a fee (currently $35) for having an item with insufficient funds, and will then return the item if adequate funds aren’t available. In most cases, the establishment where you made the transaction will require you to pay for the item and will normally charge you a fee (approx. $30) for writing an NSF item. This means that you now have incurred two fees ($35 at Mifflinburg Bank & Trust and $30 at the merchant) for an item that wasn’t even paid!

However, if you had $300 of Overdraft Privilege, here is how the situation typically would have worked. When the item arrived at Mifflinburg Bank & Trust, we would pay the item and charge you the $35 fee for an overdraft transaction. The total charge to you would have been $35 compared to $35 plus $30 in merchant fees if you had not had Overdraft Privilege. Additionally, you avoid being added to any bad check lists on the check approval networks or with the merchant.

Points to Remember about Overdraft Privilege

  • Every debit item on an overdrawn account will be charged an OD fee of $35
  • You must promptly repay the amount of the overdraft and any overdraft fees
  • Your Overdraft Privilege will not be included as part of your available balance at an ATM
  • You must bring yo ur account to a positive balance within 30 days or the Overdraft Privilege will be removed from your account.

Overdraft Privilege Terms and Conditions

  • You must maintain your account in good standing, which includes at least:
  • Continuing to make regular deposits to your account within each thirty (30) day period,
  • Bringing your account balance to a positive balance within each (30) day period;
  • You are not in default on any loan or other obligation to Mifflinburg Bank; and
  • You are not subject to any legal or administrative order or levy against your account with us.

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For complete details Contact Us Now at any of our office locations , or call toll free 1-888-966-MBTC (6282).