Electronic Payments (ACH)
Decrease your check processing expenses and simplify your account reconciliation by paying your employees, vendors or taxes electronically. In addition to the cost savings, ACH transactions offer a host of cash flow benefits, better control of payment timing, greater payment reliability and more accurate cash forecasting.
Below are a few common ways businesses are using ACH.
Direct Deposit. Your business will see reduced costs and simplified account reconciliation. Instead of reconciling each individual check that clears on the account, you make one ledger entry on your books for one sum net pay amount that you will see deducted on your Pinnacle statement. It's easy to set up and can simplify the labor time and processes involved in paying your associates.
Bill Payment. ACH disbursements provide predictable transaction settlement and lower cost alternative to wire transfers. This service is frequently used for recurring bill payments because it gives clients control over when the cash leaves your account. You never have to worry about a lost check causing you to miss a due date.
EFT Tax Payments. EFTPS (Electronic Federal Tax Payment Service) allows you to send funds for federal and state tax payments straight to the Internal Revenue Service.
Pinnacle is dedicated to providing clients with distinctive service and effective advice. We do everything in our power to protect our clients from fraudulent activities through online services. Here are some things you can do to protect yourself.
For more information about our services, call your Pinnacle financial advisor or contact one of our treasury management advisors.