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ACH Origination

ACH is an electronic method of collecting and distributing funds to and from accounts owned by other individuals or businesses. ACH origination privileges allow your business to initiate and control electronic payments and collections. At PyraMax Bank we want to make it easier and more efficient for you to do business. Contact your local banker about ACH origination.

ACH Convenience

Payment and collection solutions from PyraMax Bank are convenient and simple. ACH Origination through PyraMax allows you to create payments, payroll, receivables collection, and transfers to give you the flexibility and control you need to run your business efficiently and successfully. Same-day ACH capability is also available with debits and credits both settling
same-day.

This service is made possible by the Automated Clearing House (ACH), a nationwide network for exchanging electronic transactions among financial institutions within the Federal Reserve System.

Uses

  • Business-to-Business payments
  • Business-to-Consumer payments
  • Direct Deposit of payroll
  • Cash contributions
  • Charitable donations
  • Expense reimbursement
  • Federal tax payments (EFTPS)
  • Dividend payments
  • Membership dues

 

Benefits

  • Reduction of administration and operating expenses
  • Better cash management forecasting
  • Certainty of delivery
  • Reduction of check fraud
  • Accelerates availability of funds
  • More streamlined cash flow
  • Same-day ACH capability

 

 

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