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Cash Management Services |
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ACH |
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What
are ACH Services?
Center Bank Automated Clearing House (ACH) is an
electronic payment delivery system that allows you
to make payments or collect funds electronically
through the ACH network. It is used for all kinds
of fund transfers, including direct deposit of paychecks
and monthly debits for routine payments to vendors.
ACH is a low cost, safe and accurate payment method
utilized by most state organizations to take advantage
of economies of scale by processing transactions
in batches rather than sending each payment separately.
Organizations are using ACH to manage cash flow
and improve cash flow forecasting.
Benefits of ACH
Center Bank uses advanced Automated Clearing House
(ACH) systems. Our flexible ACH Service offers you
desktop access to initiate, edit, delete, verify,
and reverse transactions from any internet connection.
With one time log-on, you can look for information,
update transactions, and view customized reports.
You can simplify the way transfers secure vendor
payments, employee compensation and any other transactions.
You can easily collect accounts receivables, and
various types of fees or payments.
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Decrease processing costs by using electronic
processing system. |
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Improve employee satisfaction by offering
direct deposit of payroll. |
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Reduce exposure to check fraud by eliminating
paper checks. |
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Get better payment predictability and improve
cash control. |
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Decrease time devoted to process purchases,
expenses and managing invoices for |
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payments. |
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Handle fraud risk by eliminating potentially
fake transactions. |
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Speed up a variety of collections and improve
cash flow |
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Accommodate the way customers want to pay.
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How it works
ACH transactions are generally next-day entries
when exchanged with other financial institutions.
Accounts payable and accounts receivable functions
include:
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Direct deposit: Payroll, Expense Reimbursement
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Consumer debits: Account Receivable |
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Corporate trade payments: Account Payable
or Account Receivable |
For more information, please visit
the nearest Center Bank branch. You may also contact
Cash Management Services department directly at
1-800-788-4580. |
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