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Electronic Funds Transfer
Easier to pay. Easier to collect. It doesn’t get any easier. Use Electronic Funds Transfers for initiating transactions to distribute funds from your checking accounts.
As one of California Bank & Trust’s Treasury Management solutions, Electronic Funds Transfers (EFT) let you initiate electronic transactions to distribute funds from your checking accounts. It also eases the way for efficient collection of customer payments. That saves you and your organization significant time and money while streamlining operations overall. And it’s all so easy to do.
With EFT, you streamline the entire accounts payable processes. You can:
Initiate electronic transactions to distribute funds from your accounts
Collect funds from your customers’ accounts
Eliminate the need to prepare and send paper checks and invoices
Schedule disbursements for any kind of payment
Lower your administrative costs
Reduce the need for check preparation, mailing, reconciliation and stop payments
Eliminate reissue costs for lost or stolen checks
Avoid interest and late charges by scheduling payments to post on time
Make salary, travel, expense and other benefit payments directly to employee accounts
Support your organization’s liquidity and account management
By streamlining payables with EFT, you help improve your entire business operation. And it’s not a major operation to implement.
Payment instructions are sent in an industry-standard NACHA format
Future-dating of transactions is available
Daily ACH[cite::125::cite] activity can be viewed online