ACH

Collecting (or disbursing) payments may be one of the most important aspects of your business. The faster and more efficiently you collect your receivables and disburse your payables, the faster you can begin investing your excess cash to support operating capital or debt reduction. If you are looking for an efficient, economical, safe and reliable method to process your Automated Clearing House (ACH) payments, ViewPoint Bank provides the following options to help you achieve your goals.

• Direct Deposit
• Pre-Authorized Debit
• Cash Concentration
• Cash Disbursement
• Vendor Payments
• Federal Tax Payments
• Returns and NOCs Reporting

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Direct Deposit

Direct Deposit is a consumer ACH credit application, which utilizes the Automated Clearing House (ACH) to send payment credits electronically, to the financial institution accounts of employees, retirees and annuitants. Direct Deposit can save your company time and money, increase productivity and provide more confidentiality than with paper checks.

Employer Benefits	Employee Benefits
• No need to cut checks • Pay employees electronically • Online review of submitted payroll files • Timely issuance of payroll • Eliminates check reconciliation process • Eliminates stop payments and associated fees • Minimizes check stock storage and security	• Safe and confidential • Eliminates trip to the bank • Eliminates lost or stolen checks                       • Expedited access to funds • Encourages savings • Timely deposit of funds

 

 

 

 

 

 

 

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Pre-Authorized Debit

Pre-Authorized Debit is a consumer ACH debit application, which utilizes the Automated Clearing House (ACH) to transfer funds out of a consumer's account at their bank for recurring or other consumer-approved payments. The ACH Collections process can save time and money be eliminating the need for check processing.

Common Pre-Authorized Debits include:
• Insurance Premiums • Mortgage Payments                                • Charity Pledges/Contributions  • Tuition Payments  • Security Monetary Service Fees	• Utility Payments • Health Club Dues  • Loan Payments  • Membership Dues  • Homeowner's Association Fees
Company Benefits	Consumer Benefits
• Processing cost savings • Improves cash flow  • Reduces delinquent payments  • Maintains customer retention                           • Eliminates check handling • Expedited return item processing	• Eliminates cost of checks and postage  • Reduces bill payment timeline  • Knowledge of pre-determined payment date  • Elimination of past due payments  • Elimination of late charges  • Convenience of paying bills anytime, anywhere

 

 

 

 

 

 
 

 

 

  

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Cash Concentration

Cash Concentration is an ACH debit application, which utilizes the Automated Clearing House (ACH) to transfer funds out of intra-company accounts at multiple bank locations and concentrate them into a centralized bank account. This application can serve as a stand-alone funds transfer, or it can support a limited amount of payment-related data with the funds transfer.

Benefits

• Funds are concentrated on pre-established dates • Improved forecasting of cash flow and funds management • Automated processing convenience • Reduces expense and need to use wire transfer processing

 

 

 

 

 

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Cash Disbursement

Cash Disbursement is an ACH credit application, which utilizes the Automated Clearing House (ACH) to transfer funds between business entities. This application can serve as a stand-alone funds transfer, or it can support a limited amount of payment-related data with the funds transfer.

Benefits

• Funds are distributed on pre-established dates • Improved forecasting of cash flow and funds management • Automated processing convenience  • Reduces expense and need to use wire transfer processing

 

 

 

 

 

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Vendor Payments

The Vendor Payment module provides the electronic exchange of payments and payment-related information in standard formats between two or more business entities. This process utilizes the Automated Clearing House (ACH) network between buyers, sellers and financial institutions, simplifying and accelerating the exchange of payments.

Benefits

• Lower costs • Fewer errors • Provides electronic settlement

 

 

 

 

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Federal Tax Payments

The Federal Tax Payments module provides business customers an electronic method to make city, state and federal tax payments. The Federal Tax Payment module utilizes the Automated Clearing House (ACH) network to transfer funds from business bank accounts to the local and federal government agencies.

Benefits

• Convenient and secure • Scheduled ahead of time • Provides electronic settlement

 

 

 

 

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Returns and NOCs Reporting

As a ViewPoint Bank ACH Originator, you will receive information about Automated Clearing House (ACH) Returns and Notification of Changes (NOC) via the ePoint Business Online Banking System for ACH payments you have originated.

Benefits

• Gives you immediate access to current information • Provides detail information when a return item or notification of change (NOC) is received • Offers multiple delivery methods

 

 

 

 

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