Faster ACH Payments With Same Day Processing
Improve your cash flow, saving you time and money with Same Day ACH origination. Sending a Same Day ACH payment, is not only fast, but can be more affordable than using a credit card and is often more satisfactory for the recipient. Businesses of all sizes and industries have embraced Same Day ACH as part of a faster payments strategy.
Same Day ACH can benefit your business in several ways, including:
Same- Day Payroll - Submit payroll payments faster for hourly or temporary pay, bonuses and emergency payments
Supplier Payments/ Bill Payments- Pay your suppliers and invoices on the due date Take advantage of vendor discounts Accelerate release of goods
Urgent Claim Payments and Refunds- Generate quick payouts of insurance claims and refunds
Contact our Treasury Services Team at 918-392-7449 or send us an email us at TreasurySB@firstoklahomabank.com
Additional Same Day ACH processing benefits:
- Accelerate funds transfer between your company bank accounts or business units
- Strengthen business continuity with a back-up option for the time-sensitive payments
- Improve staff productivity by verifying accounts more quickly and speeding up the returns process
- Submit late or emergency payrolls and missed deadlines
- Expedite bill payments using ACH credits and debits to make supplier payments on due dates, and provide faster crediting for late payments.
- Accelerate the release of goods with your trading partners with faster settlement of invoice payments
- Move money faster among various accounts owned by a single organization or consumer with faster account to account transfers.
When utilizing Same Day ACH, you can choose to submit ACH transactions, up to $100,000 to settle on the same day they are originated. Reference our Frequently Asked Questions below for more information or contact your Treasury Services Representative for more information about how you can utilize Same Day ACH for your business!
Contact our Treasury Services Team at 918-392-7449 or email us at TreasurySB@firstoklahomabank.com
Frequently Asked Questions
Are ACH Origination services a prerequisite to signing up for Same Day ACH service?
Yes, you must first be set up with an ACH Service Agreement in order to utilize Same Day ACH services online.
How do I start sending Same Day ACH?
If you are a current ACH customer, the Same Day ACH feature is already available within your Business Online Banking Service. You may contact our Treasury Sales team for assistance on how to utilize.
Do I need to sign up to receive Same Day ACH transactions?
No, receiving Same Day ACH items does not require any service activation.
Are there transaction limits for Same Day ACH?
Yes, there is a $100,000 limit per transaction.
Are there file limits for Same Day ACH?
No, the $100,000 limit is per transaction. The limit would apply for each transaction within a file.
What is the cutoff time for submitting Same Day ACH transactions?
Any transactions with a Same Day effective date must be submitted, approved & verified to First Oklahoma Bank by 11:00 AM.
Can I send payments and collections using Same Day ACH?
Does Same Day ACH allow you to receive debit and credits?
Will Same Day ACH transactions carry remittance information?
Are there additional fees for submitting Same Day ACH transactions?