Our cash management solutions can help your company save time and money
Automated Clearing House Origination is the workhorse of your day-to-day financial management. And with our intuitive online banking system, you can make the most of what ACH Origination has to offer your company.
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With low fees and fast processing times, ACH can help facilitate:
- Payroll: Through ACH batch payments, quickly and easily send regular employee payments.
- Tax Payments: Directly send federal, state, and local tax remittances.
- Recurring or One-time Payments: Send funds to a single recipient easily online, without ever writing a check.
- Collections and Single Payment Receipts: Collect funds from single or multiple recipients, with deposits going right into your account.
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What is ACH and how does it work for businesses?
ACH stands for Automated Clearing House, a network of financial institutions managed by Nacha that processes electronic fund transfers (EFTs). ACH is often offered as part of a bank's cash management suite for businesses. ACH payments always involve two bank accounts—one that sends the payment, and one that receives it. ACH Origination allows you to easily make vendor payments, process payroll, and send and collect recurring and one-time payments.
What are the benefits of using ACH for business payments?
There’s a reason why nearly every company utilizes ACH as a keystone of their daily financial practices. ACH payments can have clear benefits over checks, wire transfers, and credit card payments. Because they can’t be lost, stolen, or forged, ACH transactions are considered more secure than checks, in addition to being more efficient—no checks to write, mail, or collect. Scheduling automatic direct deposit payroll payments is a snap with our online banking platform, and saves time and money over printing and mailing physical checks to your employees. ACH pairs the convenience of electronic payments with low fees, making it a useful and affordable tool for businesses.
How long does it take for ACH transactions to process for businesses?
While it’s true that ACH bank transfers aren’t completed instantly, they can be processed in as little as a day, depending on the rate you choose: next-day, or two-day. ACH uses batch processing—payment requests are sent out in batches by your bank, which are then cleared by the Clearinghouse in batches, four times a day. Typically, ACH payments are cleared within 1-3 business days.
Can ACH be used for sending or receiving international payments?
ACH is used for domestic electronic payments only. If you need to send money quickly to an international account, wire transfers are the most efficient solution.
Can businesses accept ACH payments from customers?
Absolutely! ACH payments can be requested and pulled from your customers’ bank accounts for both one-time and recurring payments.
Who can my business pay via ACH?
Your business can pay any other business or individual with a domestic (U.S.) deposit bank account.
Our powerful digital banking solutions put you in control of your company’s finances—anytime and anywhere.