ACH Debits
Utilizing Bank of Oklahoma's Automated Clearing House (ACH) service, your company may initiate credit/debit entries destined for accounts at financial institutions across the nation. With ACH debits, your company may automatically collect funds from its customers. The ACH Debit service is used largely for insurance premiums, utility payments, loan payments, and dues and subscriptions.
Bank of Oklahoma's NetConnect ACH service provides your company the capability to set up and control ACH transfers quickly and easily via the Internet. This secure system provides a convenient and inexpensive way to integrate ACH applications into your treasury management system.
Benefits
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Reduces costs to your company by eliminating invoice preparation and mailing, incoming mail handling, and deposit preparation.
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Your cash manger will have greater control of cash because the payment date is predetermined and the funds may be utilized on the specified settlement date.
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Your customers will be able to anticipate payment deduction from their checking or savings accounts on a specific date and have the assurance that their accounts at your company will receive credit when their bills are actually due.
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Financial Position Update |
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