ACH Origination

Automated Clearing House (ACH) Origination is a smart, efficient solution that allows businesses to send and collect electronic payments, helping streamline accounts payable, accounts receivable, and payroll while helping reduce certain risks associated with paper checks and manual processing. ACH Origination moves funds electronically through the ACH network, reducing account number exposure and simplifying the payment process for both you and your payees.

ACH Origination is available through Online Banking and is fully supported by our experienced team.

How It Works

• Authorizations: Obtain authorization and banking information from vendors, employees, and/or customers to whom you will send payments or from whom you will collect payments via ACH. Sample authorization forms are available from your Signature Bank representative.
• Create and Submit Payment Information: Enter or upload the bank account information for your vendors, employees, and/or clients via Online Banking.
• Set Up Recurring Payments: Recurring ACH Origination options are available for payroll, vendor payments, and other routine transactions.
• Submission Deadlines:
  • Same Day ACH: Cutoff time is 12:00 PM ET. Funds are received the same business day.
  • Next Day ACH: Cutoff time is 5:00 PM ET. Funds are received the next business day or on the effective date you select.

Next Steps

• Meet with your Signature Bank representative to review your ACH Origination needs.
• Determine which authorized Online Banking users will have ACH Origination access.
• Discuss whether dual control is appropriate for your accounting and internal control environment.
• Review and sign the ACH Origination Agreement.
  
• Once the agreement is complete, our Online Banking team will provide training for your authorized users.