Automated Clearing House Payables
Say “good-bye” to paper-based transactions. Instead, get the most from your payables with efficient, electronic Automated Clearing House (ACH) payment processing.
ACH is a nationwide electronic processing and delivery system. Participating banks, including Fifth Third Bank, exchange transactions through a nationwide system of automated clearinghouses.
Here’s how Fifth Third Bank ACH Payments work:
- You electronically send payment information via Fifth Third DirectSMour Internet portal, or a direct transmission. No more sending checks.
- We automatically process items.
- Using a single debit to your account, we fund payees’ accounts.
- Better management of daily cash flow
- Your funds are available until the moment they are needed.
- Improved fraud control
- Better forecasting
- Improved access to payment information
Save the time and expense of writing, processing, mailing, and reconciling checks. ACH is ideal for repeat payables such as payroll, reimbursements, dividends, interest, pensions, taxes, and child support