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Initiate electronic transactions through the ACH Network to ease administrative costs and distribute funds to your accounts, vendors’ accounts, or employees’ accounts.
Automated Clearing House (ACH) Disbursements[cite::120::cite] allows you to initiate electronic transactions through the ACH network. This service allows scheduling disbursements for any type of payment, including vendor payments, federal and state tax payments, and employee payments such as direct deposit payroll, expense reimbursements, and pension payments.
ACH simplifies the payables process by allowing you to automate one-time and recurring payables. In the process, virtually every aspect of your business operation is enhanced.
Managing payables through ACH helps reduce administrative costs and save time:
Ends the administrative costs of ongoing check preparation, mailing, and reconciliation
Saves money—ACH transactions are less costly than paper items
Eliminates check stop payment charges and re-issue costs on lost or stolen checks
Helps to avoid interest and late charges on payments
Convenient and time-saving for employees by eliminating the need to deposit checks
Helps manage your accounts through controlled timing of disbursements – you always know when the account will be debited
Improve Operational Efficiency
Quickly send domestic same-day ACH credit entries of $25,000 or less to business or consumer accounts
Payment instructions are sent in an industry-standard National Automated Clearing House Association (NACHA) format