A Great Way to Automate
Automated clearing house transfers (ACH) is an electronic method of collecting and distributing funds to and from accounts owned by other individuals or businesses. This service is made possible through a nationwide network for exchanging electronic transactions among financial institutions within the Federal Reserve System.
At PyraMax Bank, we want to make it easier and more efficient for you to do business. Create payments, payroll, receivables collection, and transfers to give you the flexibility and control you need to run your business efficiently and successfully. Same-day ACH capability is also available for debits and credits.
Contact your local commercial banker to get started with ACH transfers.
Uses for Automated Clearing House Transfers
- Business-to-business payments
- Business-to-consumer payments
- Direct deposit of payroll / e-payroll
- Cash contributions
- Charitable donations
- Expense reimbursement
- Federal tax payments (EFTPS)
- Dividend payments
- Membership dues
Benefits of ACH Transfers
- Reduction of administration and operating expenses
- Better cash management forecasting
- Certainty of delivery
- Reduction of check fraud
- Acceleration of funds availability
- More streamlined cash flow
- Same-day ACH capability