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March 26, 2018
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Molly Blake

The War on Paper Checks

When you spy the subject line in your email, “Your Bill is Due,” you click. It’s hard not to. That sense of urgency is almost primal. Digging out your coffee-stained checkbook from the bottom of a handbag or file cabinet in order to write a check for your HOA dues, however … not so urgent.

“Even though 25% of paper checks require manual research because they don’t have a paper coupon attached, thousands of HOAs and PMCs are still relying on this method to collect dues and fees,” said Matt DeWolf, Director of Business Development. “FRONTSTEPS is declaring war on paper checks in order to help PMCs get paid on time, every time.”

FRONTSTEPS recently rolled out an automated balance notification feature that is making life even easier for PMCs and HOAs enrolled in FRONTSTEPS payments.

Here’s how it works:  When an account balance is updated, an email is automagically (yep, I said automagically) sent to residents.  The email contains the current balance and a link to pay online. Your resident clicks that button, chooses their payment method (recurring, debit, or credit) and enters in relevant bank information. Boom. Done.

PMCs don’t have to do a thing. It’s that easy for everyone. Residents will appreciate the reminder and you’ll appreciate not having to track down account numbers and dishing out late fees. Banks started using lockboxes in the 1930’s! Yes, the 30’s … like when Herbert Hoover was president! Then around 2010, it was big to go cashless for dues and fees. It’s 2018. Time to go checkless.

If you are already enrolled in payments, you don't have to do a thing. If you aren't and wrestle with paper checks AND have a fresh new paper cut to show for it, then reach out to one of our payments experts (payments@frontsteps.com) and schedule a demo. In the meantime, if you need a reminder about the dangers of check fraud, read this blog post. You can also watch a recent webinar that details how FRONTSTEPS payments will also help you reduce liability and stay NACHA compliant.

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