Electronic Funds Transfer

Electronic Funds Transfer (EFT)

Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands or delivery of a check. Two of the most commonly used EFT programs are Direct Deposit and Automatic Debit. EFT systems are used for both credit transfers, such as direct deposit, to transfer funds into an individual’s account and for debit transfers, which electronically pulls funds from an individual’s account. INCS utilizes both of these systems for your convenience.


We strongly encourage all lenders to use our Direct Deposit program. By having your proceeds electronically deposited each month, you no longer have to wait by the mailbox or make extra trips to the bank. Funds will be automatically transferred from our account to yours and available to you, two business days after a payment is received from your borrower. No need to worry about mailing times or lost checks.


For our borrowers, we offer a convenient Automatic Debit program. You can have your payments deducted from your bank account, automatically, every month, on the date you choose. You won’t have to worry about writing checks, mailing times, or possible late charges because the month got away from you. You provide us with the initial set up information and then forget it. Every month, INCS will send you an email notice, after the debit date, to show you how the payment was applied to the account. It’s one less bill to worry about each month. If you need to change your bank account information, suspend a payment, or cancel the service, you can do so easily by sending your signed authorization via fax or email.

Bill Pay vs Automatic Debit

While you may pay bills through your bank’s online bill pay system, you may not realize that “Bill Pay” only provides true electronic transfer to a limited number of large companies. Bill Pay systems often issue paper checks, which must be mailed to your creditor, causing delay in payment and risking late charges with your contract holder. If using Bill Pay through your bank, make sure you know which creditors, if any, will be paid by electronic transfer. Allow adequate lead time for issuing and mailing paper checks. While your funds are deducted immediately from your bank account, they will probably not be received by your creditor for several days.

With INCS’ Automatic Debit program, your funds are pulled from your bank account and applied to your contract the same day. No paper checks, mailing time, or hassle involved.

If you have an existing account with INCS and would like to establish an Automatic Debit or a Direct Deposit, please click on the applicable link below. Once the form is completed and signed, please fax to our office at 360-336-3488. You may email your information, but we do caution that email is not always secure. If you have questions regarding our EFT programs, please call the office at 360-336-5213.