ACH Origination

Automated Clearing House (ACH) transactions are electronic debits and credits used to efficiently disburse employee payroll through direct deposit, or electronically collect receipts through direct payment from any bank account in the United States.  Upon approval, by our Business Solutions Team, business customer can set up single or recurring ACH transactions, allowing files to be sent every week or month, with little effort on your part.  ValueBank Texas’s ACH Origination is the most cost-effective way to move money!

DIRECT DEPOSIT

Government payments, like federal benefits, company payroll, or pension checks are examples of transactions credited directly to the bank and deposited to customer accounts per an established schedule.

How it Works:

    • Obtain written authorization from your employees to make electronic deposits to their accounts, usually requesting proof of account in the form of a voided check, or bank letter
    • You prepare and deliver the payroll file to ValueBank Texas, two business days prior to the Settlement, or Effective Date of the payroll.
    • ACH Files are transmitted into the ACH network, with the employees accounts credited, and your company’s account debited, on the settlement, or effective date.
    • All data submitted must be in conjunction with NACHA Rules and Regulations.

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DIRECT PAYMENT

Ideal for electronically collecting recurring receipts, such as payments, memberships, dues, and periodic subscription fees.  In either case, the transfer process is automated, convenient and predictable, giving you better control of your funds, at less cost to your company.

How it Works:

    • You obtain written authorization from payors to draw electronic payments from their bank accounts, usually requesting proof of account in the form of a voided check, or bank letter
    • You prepare and deliver collection data to ValueBank Texas two business days prior to the settlement, or effective date.
    • ACH Files are transmitted into the ACH network, with the payor’s accounts debited, and your company’s account credited on the settlement or effective date.
    • All data submitted must be in conjunction with NACHA Rules and Regulations.

BENEFITS

    • Lower Costs: You save money by eliminating much of the manual work associated with your payment and collection processes.  This includes less check printing and processing, lower postal expenses, and fewer losses due to stolen, forged, or lost checks.
    • Improved Cash Flow: Quicker collection of payments, means enhanced liquidity.
    • Simplified Forecasting: You know the exact date of your funds transfers, simplifying daily funding decisions.
    • Enhanced Benefits and Customer Service: ACH Services benefit your employees/customers/vendors by eliminating manual work for them and lessening concern over timely payments.
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