Electronic Fund Transfer - EFT
The Cost of EFT
The cost per EFT transaction is 45 cents, less than the cost of postage, envelope,
statement form, and of course, labor. The cost per transaction goes down to 23 cents
depending on volume (see table on right). Meanwhile, a typical charge for your service
is $1.50 - $2.00. The EFT software and initial start-up cost is $999 (This fee is
waived for ClaimTek's Preferred program members).
Work Smart! Increase your Business Potential...
The benefits of EFT are tremendous to your new business. Here's how:
- Increase efficiency in your business: Save time and labor.
- Decrease operating expenses: No need to print and mail monthly statements.
- Add credibility, professional Image, and product diversification to your new billing
service
- Gain a competitive edge over your competitors by offering comprehensive electronic
services
- Expand your business potential: Tap into other business territories. EFT is not
limited just to the medical industry. Practically any "membership" type business
or any business with monthly billing cycle is a potential client. (i.e.: Fitness
clubs, rental companies, tanning centers, security alarm companies, storage companies,
pest control...etc.). An independent study found that the average cost for a business
invoice is about $4.20. Let's say you have 10 businesses and processing 100 transaction
for each business at $1.50-2.00 per transaction. It adds up to a considerable income.
Now do the calculations for 50 or more businesses. The possibilities are unlimited!