FAQ

Providers | Responsible Party

Frequently Asked Questions - Providers

Q: How is PaymentBanc different from traditional drafting companies?

A: PaymentBanc is a payment management company. We don't offer payment drafting only. Instead, we manage your monthly payments including all patient follow up regarding failed transactions and expired credit cards. There is no need to mail statements, provide coupon books, or make those awkward phone calls about missed payments.

Q: How is PaymentBanc different from traditional 3rd party financing?

A: PaymentBanc is a payment management company. We don't offer 3rd party financing and you don't receive your treatment fee up front. Instead, we manage your monthly payments including all patient follow up regarding failed transactions and expired credit cards. There is no need to mail statements, provide coupon books, or make those awkward phone calls about missed payments.

Q: How do I connect to the PaymentBanc system?

A: PaymentBanc is a web-based service.

Q: What if I don't want to use all of the services offered by PaymentBanc?

A: All of PaymentBanc’s services are a la carte. You decide which services best suit your business and we help you implement them into your office procedures.

Q: Will PaymentBanc train my office?

A: Yes! PayementBanc provides comprehensive training on how to use our services. This includes presentation skills training for your staff to ensure the best management of all your monthly payments.

Q: How does PaymentBanc transfer the funds it collects to my office?

A: PaymentBanc uses the Automated Clearing House (ACH) to electronically transfer funds to your account.

Q: Does PaymentBanc collect insurance?

A: No. If you currently accept insurance for payment, you will continue to manage that yourself. If you set up a payment plan through PaymentBanc, you can do a balance increase or decrease anytime based on insurance adjustments.

Q: What are the monthly fees?

A: You only pay for the services used. There are no monthly minimums. Contact PaymentBanc for a complete list of fees.

Q: What are your credit card fees?

A: PaymentBanc has negotiated competitive rates based on our large volume of monthly credit card transactions. Our rates are set – you don’t pay more for miles cards, rewards cards, etc. Contact PaymentBanc to learn more about our credit card rates.

Q: Will this effect my current merchant agreement?

A: No. You will still need a credit card merchant agreement if you plan to take down payments and additional payments in your office.

Q: Do I need to purchase equipment?

A: No. There is no software to buy or additional equipment needed. Accounts are set up directly from our website or your integrated software system.