Fast Track to Faster Payments!
Customers enrolled in the Enhanced e-Corp services will have the ability to send an ACH file the same day that you intend the funds to be paid. This may leave you wondering about a few things:
Why would I want to use Same-Day ACH?
- Same-Day Payroll--supporting business' needs to pay employees, and provide flexibility for late and emergency payrolls such as a 'last-check' for a terminated employee and missed deadlines; and also enabling employees to have faster access to their pay in these cases.
- Business-to-Business (B2B) Payments--enabling faster settlement of invoices along with remittance information
- Account-to-Account Transfers--providing faster crediting for customers that move money among various accounts they own.
What time do I have to submit files by in order to send a payment same-day?
Noon (CST) is the deadline for Same-Day ACH.
Why start with only ACH Credits?
Credits generally cause fewer exceptions and returns than debits, therefore are a good way to introduce this service and begin experiencing the benefits of using Same-Day ACH.
Same-Day ACH Specifics
- This is a premium service and will be available for a fee.*
- Only ACH credits will be available as of September 23, 2016.
- Single transactions over $25,000 are also EXCLUDED; a wire would need to take place for same day settlement.
*A fee will be assessed for each Same-Day ACH line item submitted for Same-Day ACH processing. For more information please call your personal business banker.