Prearranged Payment and Deposit Entry
Preauthorized Bill Payment – Companies can streamline bill payments through ACH direct debit. Consumers authorize periodic account charges as bills come due. This electronic transfer system lets billing operations efficiently collect payments. Participating businesses tap into a seamless, automated process. Standing authorizations let companies debit accounts. This boosts cash flow and cuts payment delays.
Direct Deposit – Funds flow into a consumer’s account through a credit application. These deposits come from diverse sources: wages, interest, pensions, dividends, and more. This financial influx represents various income streams, each boosting the account balance.