ACH Services
Faster than paper checks and less expensive than high credit card transactions, Automated Clearinghouse (ACH)1 Services offer highly efficient and cost-effective methods for transferring funds electronically.Benefits
Lower costs.
Eliminate much of the manual work associated with collection and disbursements.
Reduce expenses and losses.
Related to check printing, processing, postage, stolen, forged or lost checks.
Improve cash flow.
Get paid without mailing invoices or waiting for checks to be returned by mail.
Simplify forecasting.
Know the exact date of your fund's transfers which simplifies daily funding decisions.
Enhance customer service.
Offer additional payment options to the customers and vendors you work with.
How do ACH collections work?
- You obtain written authorization from your customers to draw regular electronic payments from their accounts.
- You prepare and deliver collection data to Broadway Bank with settlement as early as same day* via iBIZ Online Business Banking.
- The ACH files are routed into the ACH network.
- Your customers’ accounts are debited and your account is credited on settlement day.
How do ACH payments work?
- You obtain written authorization from vendors or employees to make electronic payments to their accounts.
- You prepare and deliver payment data to Broadway Bank with settlement as early as same day*. Data may be submitted via an authorized third-party vendor or through iBIZ Online Business Banking.
- The ACH files are transmitted into the ACH network.
- Your account will be debited and the payees’ account will be credited on settlement day.
Contact Treasury Solutions
Contact our Treasury Solutions team today to see how you will benefit from modern banking that’s locally sourced and personally delivered.Easy Solutions
With business operating accounts, payroll processing, credit cards, lines of credit and equipment loans, we have what it takes to move your business forward.
Local Decision Making
As a regional, independent bank with deep ties in the community, our bankers have an understanding of this market and know how to position you for success.
Experienced Partner
Success lies between knowing you have the personal touch of a small bank paired with the expertise of a Wall Street titan. As the region’s largest and strongest independent bank you get the best of both.
1Credit approval required. *Same day ACH settlement requires submission prior to cut off times and may incur additional fees. Service may require additional agreement and fees. Contact Treasury Solutions for more information.
