ACH Origination
Whether you need to disburse payments or pull receivables into your account, this service will work for you!
THE SIMPLE SOLUTION FOR DIRECT DEBIT AND DIRECT DEPOSIT
Handle your business payables efficiently with Automated Clearing House (ACH) payment services offered through Bank7’s Business Online Banking. It’s a secure, fast and convenient way to pay your vendors, schedule cash disbursements and even pay individuals through Direct Deposit.
Features Include:
- Create templates of payees to make scheduling and tracking easier to manage
- Upload a preformatted file – Bank7’s ACH service uses the standard NACHA file format that is available from most accounting/payroll systems
- Schedule one-time or repeating payments
- Enter transactions before 3:00pm cst for processing and settled in one to two business days
- Same day transactions must be entered prior to 11:00am cst on the effective day
User Control:
- Users can create files and have them sent for approval by an administrator within the business.
- Approvals can be made through the Bank7 Business Mobiliti App (Business Mobile Banking).
- Daily limits can be placed on the business profile.
Benefits:
- Reduces payroll costs and makes account reconcilement quick and easy.
- Reduces cost associated with preparing bills, postage, and deposit preparation, thus eliminating administrative tasks associated with collection.
- Minimizes costs associated with stop payments and check re-issuance.
- Reduced delinquencies – ACH payments are made electronically and automatically.
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