Automated Clearing House
Crossroads Bank offers an Internet-based ACH origination solution. This Internet-based solution allows your company to originate Automated Clearing House (ACH) transactions using your PC. ACH saves you, the business customer, time and money; it can increase productivity for you and your employees, and ease payday stress.
ACH services can perform the following application types:
Cash Concentration/Disbursement- Move money to/from your Crossroads Bank accounts from/to accounts at other financial institutions
Payroll Direct Deposit- Payroll deposits can be made automatically into your employees’ bank accounts. No more lost paychecks, lost time while employees stand in line at the bank on payday, or time spent reconciling all those paychecks when balancing your bank statement.
Consumer Collections– With consent from the consumers, payments can be automatically deducted from their bank account for membership dues, premiums, rent, charitable donations, etc., thus eliminating bill preparation, check writing, postage, and late fees for the consumer.
Consumer Payments– Some vendors will also accept payments via ACH, which can include information such as account number, invoice number, and discounts taken.
State & Federal Tax Payments– Take control of when you make your company’s state and federal tax payments. For many types of tax payments, ACH is now required. With ACH you can control when the payment is sent.
- Files can be transmitted from various payroll/accounts payable software, eliminating duplicate entry.
- Transactions can be created with our program for easy access.
Cost of Service– This service is very economical, saves you time, and eases the burdens of payroll check printing, depositing of checks and more.
Costs: $50 per month for the service. This includes the first 100 transactions. .10 per transaction over 100.