Reduce paperwork and control cash outflow.
Let Broadway Bank help you pay vendors and employees electronically using Automated Clearinghouse (ACH) Cash Disbursement Services. They’re ideal for making payroll and other types of recurring payments. The transfer process is automated, convenient and predictable, giving you better control of your funds at less cost to your company.
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.
Zero Balance Account
Automated Wire Transfers
Explore other Treasury Management Solutions.
The benefits of ACH Cash Disbursment?
It lets you:
by eliminating much of the manual work associated with your payment and collection processes.
related to check printing, processing, and postage.
due to stolen, forged or lost checks.
Simplify accurate forecasting.
Know the exact date of your funds transfers, which simplifies daily funding decisions.
ACH services benefit your employees and vendors by eliminating manual work for them and lessening concern over timely payments.