Direct Debit is a method of collecting payments electronically via the Automated Clearing House (ACH) system from your clients/vendors. ACH transactions are, simply put, electronic checks. This feature is accessed via e-Business, our Business Online Banking System. e-Business is a real-time system and will update balances simultaneously with any incoming or outgoing wires or ACH transactions. By using ACH services, you will have fully collected funds in your account on the effective date and won’t have to wait for your customers/vendors checks to clear.
Alternative to checks and wire transfers for both collections and disbursements
Enhance cash flow by electronically collecting payments
Automatically consolidate deposits made at other banks
Pay your employees electronically (Direct Deposit)
Quick access to funds for short-term investments, loan pay-downs or general disbursement needs
