Lake Region Bank’s ACH Manager, our business ACH transfer tool, helps businesses automate payments, improve cash flow, and reduce processing fees by securely transferring funds directly between bank accounts. Simplify accounts receivable, vendor payments, and payroll while saving time and boosting efficiency.
If this year is the year you stop chasing payments and start increasing your accounts receivable, the Lake Region Bank team is here to help!
Our business ACH transfer program isn’t just for paying your employees through direct deposit. You can initiate auto debits for your accounts receivable to help improve your bottom line. This valuable service and the business bankers at Lake Region Bank can help you make it a profitable year.
What Is ACH Transfer?
ACH transfers are secure, automated, electronic, bank-to-bank transactions. Businesses can use them to collect payments, make payments, and payroll. ACH transfers help you automate your accounts receivable and accounts payable and are often free.
Once set up securely through Lake Region Bank, ACH transfers deposit funds from your customers directly into your account. You can also set up ACH transfers to make direct payments to vendors or to pay your employees.
How ACH Transfer Can Increase Your Accounts Receivable
Automating your accounts receivable with ACH transfer has several benefits. With ACH transfer, you can set up a single automatic transfer for a single transaction or recurring transfers for an ongoing project, membership, or subscription. You don’t have to depend on a customer to write you a check or make a credit card payment or wait for those transactions to clear.
Another benefit of using ACH transfer with your customers is that you avoid credit card and wire transfer processing fees. These fees can really add up over time, especially if you offer high-cost products or services. ACH transfers are often free, making them ideal alternatives to credit card and wire transfer payments, which incur fees.
By automating your customers’ payments to you and avoiding costly processing fees, setting up ACH transfer for your business can increase your accounts receivable and your profits this year.
Meet Lake Region Bank’s ACH Manager
Lake Region Bank is proud to offer business banking customers access to secure and convenient ACH transfers through the ACH Manager tool in our business banking suite. With ACH Manager, you can initiate auto-debits from customer accounts for automatic payments. All you need is signed approval from your customers to set up the transfers.
ACH Manager also allows you to build, save, and retrieve ACH templates to reduce data re-entry and make transfers much easier and more efficient.
Don’t Forget ACH for Payroll
Direct deposit for payroll is almost a requirement these days. You can use our ACH Manager to transmit payroll automatically to your employees. Import your payroll files from your accounting software, get signed approval to make the direct payments into employee accounts, and put payroll on autopilot. ACH transfer can help you increase accounts receivable at your business. Our friendly, knowledgeable, and local business bankers can show you how. Contact us today to learn more.
ACH Transfer FAQs
What is an ACH transfer?
An ACH transfer is a secure, electronic bank-to-bank transaction that businesses can use to collect customer payments, pay vendors, and process payroll automatically.
How can ACH transfers improve accounts receivable?
ACH transfers allow businesses to set up one-time or recurring automatic payments, reducing delays, improving cash flow, and minimizing the need to chase payments from customers.
What is ACH Manager and how does it help businesses?
ACH Manager is Lake Region Bank’s business banking tool that allows you to create automatic customer debits, build reusable payment templates, and streamline payment processing with signed customer authorization.
Can ACH transfers be used for payroll?
Yes, ACH transfers make it easy to automate payroll through direct deposit by importing payroll files from your accounting software and securely paying employees on time.
