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For over three decades the ACH system has been used by businesses as an alternative to checks and wire transfers for both incoming and outgoing payments. First Bank offers a wide variety of ACH services that can help your business streamline its cash flow, contain costs, reduce business risks, and improve control over payments.
Collection Features:
- First Bank’s Business Online Banking service enables you to view incoming ACH payments, originate and monitor pre-authorized payments, and originate Cash Concentration files for collecting funds from outlying depository accounts.
- ACH payments allow you to control the settlement date of transactions and optimize control over your cash flow.
- ACH payments are immediately available on the day of receipt, eliminating uncollected funds associated with check receipts.
Disbursement Features:
- First Bank’s Business Online Banking service allows you to originate all types of ACH transactions, including Direct Deposit of Payroll, business-to-business payments, vendor payments and tax payments.
- ACH payments reduce many of the inherent risks associated with check-based transactions.
- ACH disbursements provide predictable transaction settlement and a lower cost alternative to wire transfers.
To find out more about our Treasury Management Services, contact the First Bank Treasury Management Officer nearest you.
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