ACH Cash Disbursement

How does ACH Cash Disbursement work?

• You obtain written authorization from vendors or employees to make electronic payments to their accounts.
• You prepare and deliver payment data to Broadway two days prior to the settlement date. Data may be submitted via an authorized third party vendor or through iBIZ Online Business Banking.
• The ACH files are transmitted into the ACH network.
• Your account will be debited and the payees’ account will be credited on settlement day.

Related Links

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Zero Balance Account

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Positive Pay

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The benefits of ACH Cash Disbursment?

It lets you:

Lower Costs
by eliminating much of the manual work associated with your payment and collection processes.

Reduce expenses
related to check printing, processing, and postage.

Reduce losses
due to stolen, forged or lost checks.

Simplify accurate forecasting.
Know the exact date of your funds transfers, which simplifies daily funding decisions.

Enhance benefits.
ACH services benefit your employees and vendors by eliminating manual work for them and lessening concern over timely payments.