ACH Manager Service
Our ACH (Automated Clearing House) Manager Service provides a fast, reliable, secure and cost-effective system to manage your receivables and payables using electronic debits and credits to send or collect dollars from any financial institution in the United States.
- Originate ACH debits for Accounts Receivables
- Originate ACH credits for direct deposit to employees (allow 2 business days)
- Originate ACH credits for Accounts Payables
- Secure integration
- One-step entry efficiencies
- Auto-fill fields minimize keystrokes
- Collections control and efficiency
- Custom reporting features
- 1 pm cutoff considered current business day
- Expedite turnaround on Accounts Receivables
- Improve cash flow forecasting and management
- Reduce account reconciliation and risk
- Reduce operating costs
- Improve your payment processing efficiency and accuracy
- Reduce risk of fraud
Bank of the James is committed to providing state-of-the-art fraud protection services to keep our customers' funds and transactions safe and secure. Our Positive Pay service helps significantly reduce your exposure to check fraud by allowing you to view potentially fraudulent items before they clear the bank. Our matching and validation process allows you to quickly identify checks that are inconsistent and, in turn, provide you the opportunity to review suspicious items efficiently and make timely payment decisions. We'll only clear checks you've authorized.
How it works
- Each time you issue checks from your accounts payable system, you will have the option to upload a data file or manually enter check information into our online system.
- Using the check issuance data you create and report to us, Bank of the James will match all checks being presented for payment against your issuance information.
- If a check serial number and dollar amount match an issuance record, we will pay the check automatically.
- If there is a discrepancy, we will report the check as an "exception." Based on your review, "exception" checks will either be honored and paid or rejected and returned.
With our Online Remote Deposit Service you can save time by depositing checks into your business checking account, right from your office! Using a desktop scanner the size of a toaster, scan your checks for deposit and submit the scanned images for electronic deposit to your Bank of the James Business Checking Account. You will instantly receive a confirmation for your transaction and deposits can be made up until 5:00pm for same day credit.
- Scan your checks on the desktop scanner
- Make multiple deposits daily
- Process 20-30 checks at a time
- Copies of fronts and backs of checks provided with transaction confirmation
- All data is encrypted for secure transmission
- On-site scanner installation and training
- Ongoing support and maintenance
- Various user levels, approval limits and management review.
- Accelerates your cash flow: deposit checks as soon as you get them, any time, any day
- Deposit up to 5 pm for current day
- Operate more efficiently
- Eliminates the need for a courier or employee to go to the bank
- Low monthly fee