ACH Services
ACH services provide the convenience of delivering and receiving funds electronically through the Automated Clearing House (ACH) system, eliminating the need to write checks or send invoices. ACH enables you to automate your payroll, vendor payments and other disbursements, as well as streamline the management of your receivables, and gain improved online record-keeping.
In addition to viewing account information and banking transactions, UMB’s business online banking service allows you to originate ACH transactions from the internet through a secure site.
ACH Origination Types
- Direct Deposit (Credit): Make a variety of consumer payments, including payroll, expense reimbursement, pension, bonuses, and dividends. Benefits include reduced costs associated with account reconciliation, check production and postage expenses for distribution, improved relationships with clients/employees due to timely payments, and enhanced ability to predict cash flow.
- Vendor Payments/Disbursements: Pay suppliers via CCD+ and CTX formats for providing payment related information such as invoice number, date, and discount.
- Consumer Direct Debit: Collect one-time and recurring payments from your customers electronically. Payments include utilities, donations, membership fees, loan payments, insurance premiums, newspaper subscriptions, rental fees and more. Benefits include reduced expenses for billing/collection cycles, a shortened collection time, and a low cost alternative for collection of recurring payments from customers.
- Corporate Direct Debit: Collect payments from suppliers via CCD+ and CTX formats for providing payment related details such as invoice number, date, and discount.
- Cash Concentration: Use ACH to consolidate funds from your company’s accounts in multiple locations to your UMB concentration/operating account. This process enables your company to have closer accounting controls, to take advantage of investment opportunities and meet disbursement needs.
Transmission Options for ACH Originations through UMB are provided via Business Online Banking access for Cash Management Services. Your company will specify in your ACH Agreement/Schedules which company employees will have ACH access rights for ACH file submissions. You will be comfortable knowing that UMB is one of the top originators and maintains staff which includes AAP (Accredited ACH Professional) certified specialists.
ACH Return Notifications You will be notified promptly of any Notification of Change (NOC) and/or Return Item upon receipt by UMB. NOC and Return notices may be delivered via US mail or fax as specified by your company. If any ACH return or NOC is time-sensitive, it will be delivered via fax.
For more information, please call ACH Services at (601)755-1000 or (844)862-4862, ext.7132.