Business ACH
Automated Clearing House (ACH) transfers are electronic bank-to-bank transfers that let you pay out and get paid faster and more securely than with paper checks. They eliminate time-consuming routine trips to the bank, reduce administrative tasks and increase the speed of access to funds. With a ACH you can:
- Direct deposit payroll
- Pay quarterly federal and state tax payments
- Make vendor payments
- Receive payments directly from your customers through our electronic fund transfer system
- Collect funds for recurring charges such as club membership fees and dues
Other Benefits of ACH
- Minimal time to get started
- Reliable transfers in and out of your accounts
- Fast payment setup
- Straightforward processing
- Easy tracking and reporting
- Automatic prenote to Federal Reserve ensures all information is correct. Discrepencies are reported directly to you
- Reduction of paper check printing and posts expenses
SAME DAY ACH
Files transmitted to Lowell Five by 2PM will arrive at the receiving bank account by the end of the same business day.
REGULAR ACH
Allows you to release files by 2PM from one to fourteen business days prior to the Effective Date.
