Simplify Your Payment Process
Automated Clearing House (ACH) Origination offers businesses the ability to manage accounts payable/receivable and payroll processes more effectively by moving funds electronically through the ACH network. Utilizing ACH Origination reduces account number exposure and simplifies the payment process for both payer and payee. ACH Origination is available through Online Banking and is fully supported by our experienced Online Banking team.
How It Works
- Obtain authorization and gather bank account information from your vendors, employees, and/or clients who wish to be paid or pay you via the ACH network. Sample authorization forms can be provided by your Signature Bank representative.
- Enter or upload the bank account information for your vendors, employees, and/or clients via Online Banking.
- Recurring ACH Origination capabilities are also available.
- Both Same Day and Next Day ACH Origination are available.
- Cutoff Times
- Same Day ACH Origination: 12:00 PM ET. Payee will receive funds the same business day as transaction origination.
- Next Day ACH Origination: 5:00 PM ET. Payee will receive the funds the next business day after the transaction is originated or on the effective date you select.
Next Steps
- Determine which authorized Online Banking users will have ACH Origination capabilities.
- Discuss whether dual control of the ACH Origination process is appropriate for your accounting environment.
- Meet with your Signature Bank representative to discuss your specific ACH Origination needs.
- Review and sign the ACH Origination Agreement.
- Once the ACH Origination agreement is signed, our Online Banking team will arrange training for your authorized Online Banking users.
