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ACH Services

The Automated Clearing House (ACH) network is used as an alternative to checks and wire transfers for incoming and outgoing payments. Incoming and outgoing transactions are originated electronically through the ACH network and can help your company save on operational costs while improving cash flow.

Collection of Receivables

The Collection of Receivables process allows you to collect payments such as rent, utility or membership payments electronically without the processing and clerical expense of paper transactions. That means there’s no need to mail invoices or wait for checks to be returned by mail. It simplifies your accounts receivable management and helps your business process payments quicker, in turn, allowing your money to work for you:

  • Ensure timely receipt of payments and speed the collection process
  • Guarantee accurate payments from your customers and enhance receivables management
  • Control the settlement date of transactions to optimize cash flow
  • Decrease the rate and improve resolution of NSF (non-sufficient funds) and returned items
  • Reduce float and receive payments faster allowing for improved cash management

Payables and Disbursements

Payables and disbursements using ACH are a convenient, cost-effective way to manage your money. It provides a way for your business to pay monies out electronically for payroll, expense reimbursements, vendor payments and tax payments. You can gain better control over your disbursement funding operation, which will:

  • Reduce the cost of paper checks and distribution
  • Eliminate stop payment charges for lost or stolen checks
  • Improve employee satisfaction with direct deposit of payroll and expense reimbursement
  • Allow for timely payments & disbursements
  • Reduce exposure to check fraud
  • Maximize funds usage to eliminate excess deposit balances which can be invested or used for other activities

First PREMIER Bank NACHA Originator Rankings

Following are our rankings for the past five years:

  • 2014 – 12th
  • 2013 – 17th
  • 2012 – 20th
  • 2011 – 20th
  • 2010 – 20th

 


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