Direct Deposit and ACH Origination
Business owners, we bet you've heard the phrase, "time is money," and we'd like to help you save both.
ACH Origination and Collections
An ACH (Automated Clearing House) Origination allows you to create electronic payments and deposits by giving Security Federal permission to debit directly from your account. This helps you effectively manage your payables and receivables process in a convenient, secure way.
Benefits:
- Give your customers a wayto make recurring payments to your organization (ACH Collections)
- Reduce administrative costs for your business
- Improve cash flow and financial forecasting
- Save time for you or your staff by automating the payment process
To be eligible for ACH, your business can apply for Cash Management through Security Federal. Please call, stop in, or send us a message if you have questions.
Direct Deposit
The most efficient way to pay your staff is by encouraging them to enroll in Direct Deposit, our fully-automated payment option. You'll no longer need to print or mail out paper checks!
When a staff member agrees to be paid via direct deposit and you set them up in Cash Management through Security Federal, neither you nor your staff member will need to visit the bank to transfer the money.
Benefits:
- Saves you time and money by not having to print or mail out paper checks
- Your staff members get paid faster by electronically depositing their check into a savings or checking account
How does it work?
To be eligible for Direct Deposit payments to your staff, your business can apply for Cash Management* (CM) through Security Federal. Once enrolled, you'll upload your staff's info to get their Direct Deposit established. It generally takes 1-2 payment cycles before the first check is directly deposited into their account.
Contact us and we'll be happy to set up a complimentary Cash Management demo for you.
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