Automated Clearing House (ACH)

For companies who want to get the most out of cash management services, Automated Clearing House collection and disbursement of funds has proven its worth to both buyers and sellers. It is a safe, cost-efficient method of sending and receiving recurring payments.

Use ACH for payables and receivables:

Payroll
Employee benefits
Charitable contributions
Leases
Rent
Maintenance contracts
Memberships/subscriptions
Loan payments
Insurance premiums
Retirement plans
Retainers, professional fees
Utilities
Taxes
Accounts payable

Benefits to companies on both the paying and receiving ends of ACH include:

Better control of cash flow for planning and profitability
Cost savings in checks, mailing materials, postage, staff time
Safe, secure transactions minimize loss and fraud
Timely payments eliminate late charges and follow-up costs

A Business Services Specialist can provide all information necessary to begin realizing the benefits of ACH. Data will then be furnished to Peoples Bank prior to each settlement date. It may be submitted by mainframe transmission or via personal computer. Peoples Bank credits and debits all accounts as specified and issues the appropriate documentation.

Peoples Corporate Online Banking will require a contractual agreement and an appropriate board resolution. Some services may have additional costs and requirements for completion. Service cost associated with Peoples Corporate Online Banking transactions may not be assessed as part of the regular monthly account service cost. Upon request, specific cost information will be provided.