You can save time and money by replacing virtually every check-based payment and receivables collection process with Electronic Funds Transfers also known as Automated Clearing House (ACH) transactions.
ACH Origination is available through Business Online Banking and offers flexible options - You can upload NACHA formatted files, initiate one-time transactions, and build templates for recurring transactions for:
- Direct Deposit of Pay for your Employees
- Vendor Payments
- Expense Reimbursement Payments
- State and Federal Tax Payments
- Accounts Receivable Collection - Direct Payments
- Cash Concentration
Transactions initiated by 5:00 pm EST/4:00 pm CST will be processed the same business day.
You'll receive timely notification of ACH Returns, Notification of Change, and EDI payment advices via email with FedPayments® Reporter Service.
- Reduce the potential for fraud on your account.
- Improve cash position forecasts with predictable transaction posting.
- Immediate funds availability on incoming credit transactions.
- Simplify account reconciliation.
- You maintain administrative rights to add, edit, and delete users.
- Customize user entitlements by account and function and establish transaction limits.
- Optional Dual Authorization to release transactions.
- Out of Band Authentication.
ACH Origination services are available with our Business Online Banking - Plus, Pro, and Corporate packages.
Additional limitation and requirements may apply. For more information or to upgrade your Business Online Banking package, call our Business Solutions team at 1.866.833.0050.