How Your Company Benefits
With 1st Mariner ACH Origination you can:
- Reduce processing costs for payables.
- Automate payables and distributions through credit origination.
- Get accurate and timely posting, eliminating outstanding checks in your account.
- Reduce in-house expenses associated with paper processing and storage.
- Eliminate mail and processing float associated with paper checks.
How It Works
Here’s another way to streamline your financial tasks: Pay your vendors electronically. ACH, the same transaction-clearing network that facilitates Direct Deposit for your employees, allows you to automate your accounts payable process to post payments to your vendors with accounts at other banks.
If your customers agree to an automatic credit to their bank accounts, you can submit files to send payments to them electronically. Our online transaction initiation system, 1st Online, enables you to initiate ACH payments which can send funds directly to your customers' accounts. No more paper checks, postage costs and time spent on processing.
Remittance information can be appended to each transaction as needed. With ACH Origination service, you take control of your payables process while improving cash forecasting.