Payments Management

Cash disbursement services consist of the payment, movement, and disbursing of funds. The disbursement services are:

Direct Deposit

Take advantage of direct deposit for payroll, dividends, or annuities. Use ACH to transfer funds to an account at another financial institution as well as specify when the receiving account gets credited. Direct Deposit is convenient for paying expense reimbursements, bonuses, and commissions.

Vendor Payments

EPN STP 820 standard addresses one of the key obstacles in business–to–business payments: the lack of a single standard format for remittance information. EPN STP 820 rationalizes the complexity of the ANSI 820 payment standard by defining the minimum required data elements to be included with the payment. EPN STP 820 specifies up to 10 required data elements, with two elements — customer name and customer account number — as mandatory. If invoices are used, there are eight additional fields such as invoice number, gross invoice amount, and amount paid to be included with the electronic payment for each invoice being paid.

Federal & State Tax Payments

Allows your business customers the convenience of paying their State and Federal taxes electronically. In fact, the Federal Government now requires most businesses to make tax deposits electronically and in the future businesses will be required to make all of their tax payments electronically.

Cash Disbursement

ACH funds transfer is a low cost means of assuring your payments move quickly and efficiently, meeting your payment schedules without tying up funds for the ordinary check clearing process. You have absolute control over timing disbursements to match cash availability in your account. ACH transfers can also help decrease check fraud.

Wire Transfer Solutions

Initiate Domestic and International wire transfer. Assign user permissions and dollar limits for each wire and the users. Multiple levels of user permissions and dual approval capabilities available.

Payroll Cards

An Electronic Alternative to Paychecks

Benefits to You:

  • Reduce overhead expense related to check issuance and check reconciliation
  • Eliminate risks and costs associated with lost or fraudulent checks
  • Reload cards without having to reissue new each pay period

Employee funds are protected by unique PIN–secured cards. Enrollment is easy, it only requires basic personnel data that you most likely have on file.

Employee Benefits:

  • More free time by eliminating the need for them to wait in lines to cash checks at the bank or check cashing stores
  • Saves money by protecting them from the cost associated with negotiating checks at check cashing stores
  • Easy, convenient access to pay through a network of 350,000 ATMs
  • Security with PIN–secured cards that can be used at more than two million PIN–pad locations
  • FDIC insurance. Each employee’s pay card account is FDIC insured