An ACH (or Automated Clearing House) transaction is a batch-processed electronic transfer between two banks or financial institutions. ACH transactions can be credit, which include direct payroll deposits, or debit, such as loan payments.
INB gives companies more reliability and convenience with ACH transactions. Your company can initiate ACH transactions online on a schedule that fits your needs. Funds from different stores or locations can be consolidated into one account.
Using ACH Cash Concentration with INB allows your company to:
- Save money with decreased costs for postage, check printing and reconcilement.
- Eliminate issues associated with other methods of consolidation
- Reduce manual processing and increase efficiency.