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 Automated Clearing House (ACH) - ACH is a paperless payment system. It can be used for direct deposit of payroll, health club dues, insurance payments, mortgage payments, etc. Recurring credits or debits can be originated by you to your clients or other businesses via our Internet Banking.
ADVANTAGES TO CONSUMER
- Elimination of time and cost involved in depositing checks.
- Consistent availability of funds on a timely basis, even during vacation, illness, or business trips.
- Elimination of possibility of lost or stolen checks.
- Safe, secure and reliable.
- Convenience of not having to write checks.
- Elimination of postage expense and risk of late payment.
- Avoidance of late or interest charges through prompt, timely payments.
- Establishment of excellent payment and credit records
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ADVANTAGES TO CORPORATIONS
- Reduction of administration and operating expenses.
- Reduction of clerical cost for account reconciliation.
- Elimination of stop payment charges and check reissue costs.
- Reduced remittance processing costs (paper handling) resulting from the absence of the check.
- Accelerated availability of funds.
- Better cash management forecasting.
- Improved business relationships.
- Certainty of delivery.
- Possible reduction of bank service charges.
- 97% of employees that use Direct Deposit are very satisfied.
American Bank of the North offers Cash Management to our Commercial Customers for a small monthly fee.
For more information on this product please call 218-327-2555 and ask to speak to one of our Business Banking Representatives.
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