MOVE MONEY QUICKLY, SECURELY WITH ACH.
With Automated Clearing House (ACH) services, your company can save money on processing costs by making payments and
transfers without a check or wire. ACH transactions are handled electronically to speed money along with maximum efficiency.
What’s more, ACH Payments are also 50% less likely than checks to be a target for fraud, potentially reducing your exposure to
financial losses.*
You can initiate transactions such as direct deposits, direct debits, and cash concentration right from your office computers – saving
you time and offering you more control. First Tennessee is among the top fifty ACH originators by volume in the country,** so you
can be confident that we have the experience needed to process your transactions securely and efficiently.
ACH SERVICES AVAILABLE FROM FIRST TENNESSEE
ACH Direct Deposit (Payroll/Expense Reimbursement)
Send First Tennessee transactions by flexible entry methods, including our Business Banking Online ACH Module. You’ll enjoy:
PP Predictable cash flow and prompt delivery of payment
PP Flexible processing schedules to accommodate almost any payroll schedule
PP A new employee benefit to offer your workforce
ACH Direct Debit (Customer Payments)
Receive one-time or recurring payments faster by directly debiting your customers’ accounts when they enroll with your company.
PP Maximize cash flow while minimizing float associated with receivables
PP Receive collections on the specific due date
PP Offer your company’s customer an efficient payment method
ACH Vendor Payments
Make one-time or recurring payments to your vendors by sending credits electronically through ACH.
PP Send payments for a specific due date
PP Avoid high costs of issuing checks
PP Lower your risk of fraud
* 2015 AFP Payments Fraud and Control Survey
** Largest Financial Institution Originators for 2014, NACHA 2015
ACH Cash Concentration
Ideal for companies with multiple locations that use a local depository bank, but need to quickly concentrate receivables into one
cash pool. Service offers:
PP Funds moved to a single account for ease in investing decisions
PP Flexibility of connecting with depository accounts at any financial institution within the ACH Network
PP Daily and monthly reports provided to simplify daily cash position monitoring
Same Day ACH Credit Origination
NACHA and the Federal Reserve have approved rules regarding Same Day ACH transactions, starting with ACH credits,
to be effective September 23, 2016. While all financial institutions will be required to receive same day ACH transactions,
First Tennessee will also offer same day origination allowing your business to make payments faster. What this means to you:
• Any qualifying ACH credit transactions meeting NACHA rules which are sent with a “today” effective date will be
processed for same day settlement.
• Same Day ACH will be a First Tennessee optional premium service and per transaction fees will apply for any ACH
transactions which are initiated with today’s effective date.
SAVE TIME AND MONEY WITH ACH
For more information on First Tennessee’s ACH Services and how they can help simplify your business financial processes,
contact your First Tennessee Relationship Manager or Treasury Management Sales Officer today.
©2016 First Tennessee Bank National Association. Member FDIC. www.firsttennessee.com REV 06/16