Fast money

Business customers can use the new COD/EFT service to collect payments for their shipments.

USPS has introduced a service that helps businesses collect payments faster for merchandise sent to their customers through the mail.

Collect on Delivery/Electronic Funds Transfer (COD/EFT) allows mailers to ship merchandise first and have the Postal Service collect cash payments later.

The payments are sent directly to the mailer’s financial institution within 48 hours.

The COD package label includes an option where mailers can designate EFT as a payment method.

COD is one of 20 services the Postal Service recently simplified to better serve customers.