Electronic Payments / ACHElectronic payments can reduce the cost of disbursements and collections, decrease the risk of internal and external fraud on a checking account, save time on account reconciliation, and improve cash flow forecasting. We'll provide a browser-based ACH (Automated Clearing House) software application that will facilitate the initiation of your payments.
In addition to the familiar direct deposit service, we offer other types of business payments:
- Vendor payment: Payments to business partners can be sent in several formats to accommodate invoice or other remittance information.
- Cash concentration: Businesses can electronically debit their own accounts at other banks and concentrate those funds into their main accounts.
- Tax payments: The federal government and most state governments will accept a variety of tax payments electronically.
Your business can also use the ACH system to collect funds:
- Cash concentration can be set up for pre-authorized transfers from client accounts.
- Consumer accounts can be debited for recurring payments.
WiresWith online Wire Transfers, you can enjoy the convenience of processing a same-day and future-dated domestic and foreign wire. Initiating wires online allows you to process your payments more efficiently with the ability to monitor payment history. The PATHWAYS system offers you:
- Multiple levels of security. Limit user access by transaction amount and payment type with a separate user for approvals.
- The ability to create templates with pre-determined instructions or use a freeform template.
- The capacity to send wires in US dollars or foreign currencies.