 |
Automated Clearing House (ACH) is a service that businesses can use for direct payment of payroll, tax payments, and dividend and interest payments. Businesses can also use this to directly collect items such as fees, dues or donations. Basically, it is the system by which electronic transactions are processed between financial institutions. It differs from automatic payment because with ACH, funds are transferred between accounts with different ownerships.
ACH services are available on AnchorBank's Commercial Checking, Basic Plus Business Checking and Non-Profit Checking accounts. They are subject to credit approval.
Talk to an AnchorBank business banker at 1-800-25 ANCHOR (252-6246), option #7, or visit us online for more information on ACH.
|
 |
 |
