Faster processing. Fewer papers.
Our hands-on approach ensures that you’re never without the resources you need. We provide competitive rates, onsite training, and the support of our Cash Management team.
With automatic and paperless payroll payments, you can save time and money, and prevent lost or stolen checks. ACH origination will charge your account for payroll and credit your employee's account at any financial institution. Your employees or other payees will find direct deposit to be a time saving convenience as well.
Electronic Federal Tax Payment System (EFTPS)
If your business makes electronic tax payments, American Bank can help you set up the ACH Credit option for those IRS payments, as compared to the ACH Debit option, which allows the IRS to debit your account. With EFTPS ACH Credit, you always have an audit trail for each payment. Plus you can review the transaction before it is submitted to ensure that it is correct - and edit it if needed.
You can pay your accounts payables electronically with ACH Origination. Simply set up your vendors as payees, much like a Bill Pay program. All of the payments are delivered electronically to the vendor’s account, which gives you more time to prepare your payables. You also keep your money in your account longer to work for you.
Set up automatic draft payments for your customers on funds due to your business. Automatic Clearing House (ACH) origination will charge an account at any financial institution for payments and then credit your account. The electronic credit to your account is the same as a cash deposit. It will allow you to earn interest or apply the funds toward an earnings credit on the date the deposit is credited to your account.
Electronic Data Interchange (EDI)
With EDI, you can initiate electronic processing of payments and collections. Each transaction is accompanied by the payment information (addenda record) applicable to the transaction. Incoming EDI addenda information is available to identify receivables payments for posting.