ACH Advantage

As a business owner in today’s market, it is vital to keep your business operations on the cutting edge of technology while at the same time reducing operational costs. Each day valuable time is spent preparing your banking transactions and adjusting your cash flow. Whether it is issuing payroll, collecting reoccurring payments from your customers, preparing and transporting deposits, or collecting on returned checks, Oconee State Bank has an extensive line of ACH Origination services to suit your every need. As an ACH Advantage customer you can greatly decrease the time you spend on your business banking, enabling you to have more time for your most important asset- your business.

Direct Deposit Payroll
• Reduces costs associated with check preparation and special handling
• Reduces company time spent cashing/depositing checks
• Faster reconciliation of payroll account(s)
• Can also be used for expense reimbursements, dividends, and other disbursements
• Gives employees the ability to split deposits between multiple accounts
• Great addition to any employee benefits package
• Employee need not be an Oconee State Bank customer
• High Speed Internet is required

Preauthorized Debits
• Authorizes payments from your customers such as health club dues, utility payments, or any other payment that is reoccurring
• Reduces invoice mailings to customers that are charged the same amount each cycle and not based on usage (Health clubs, Insurance drafts, etc.)
• Improves collection and availability of funds
• Reduces late payments
• Customer need not be an Oconee State Bank customer
• High Speed Internet is required

Accounts Receivable Entries
• Convert check payments received by mail or lock box into electronic items
• Improves collections and availability of funds
• Reduces deposit preparation time
• Eliminates transportation of deposits
• High Speed Internet is required

Check Service Advantage
• Presentment of returned checks electronically
• Returned items can be presented electronically twice
• Predetermine presentment date to a day of your choice to optimize your collection ability (Friday, 15th, 30th)

Telephone Initiated Entries
• Ability to accept payments via the telephone
• Improve collections and availability of funds
• Reduce late payments


Fees:
Originator Set Up Fee - $50.00-$200.00
Annual Fee - $20.00
Per File Fee - $10.00
Per Transaction Fee - $.10 per transaction over 100
Return Item Fee (NSF, Closed Account, Stop Payment) - $5.00
Return Item Fee (Revoked or Unauthorized) - $10.00

Member FDIC © 2014  Oconee State Bank