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Automated Clearing House (ACH) Debit Origination
With Franklin Bank's Automated Clearing House (ACH) Debit Origination service, you can completely automate your collection process, making it quick and easy. Once your customers agree to have their recurring payments debited from their accounts, you simply generate an electronic file and transmit it to Franklin for processing. Collected funds are then deposited into your Franklin account. With Cash Concentration services, you can electronically transfer funds between accounts, even if they are with different financial institutions.
Powerful
Franklin' ACH Debit Origination guarantees accurate payments from your customers and enhances your credit management process. This service also ensures the timely receipt of those payments, so you can improve your ability to forecast cash flow. Cash Concentration allows you to maximize funds across multiple banks to increase earnings potential.
Cost Effective
ACH eliminates the administrative time and expense normally associated with processing paper-based receivables, manual transfers or wire transfers.
Efficient
ACH services can speed the collection process and simplify your accounts receivable management. There's no need to mail invoices or wait for checks to be returned by mail. You will also have the ability to resolve account disputes before the payment date.
Subject to credit approval.
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Automatic Clearing House (ACH)/Direct Deposit
ACH Direct Deposit offers several distinct benefits for your company and your employees. With direct deposit, you can make life a little easier for your employees by eliminating the need to visit the bank to cash or deposit payroll checks. For your company, it saves you the time and expense of producing paper checks for payroll, expense reimbursements, stock dividends, company bonuses, pensions, annuity, and interest payments.
Powerful
Direct Deposit significantly reduces the risk of check fraud for your company, and eliminates the risk of check loss or potential fraud for your employees.
Cost-effective
You know the exact clearing date and amount, so you can maximize your investment potential. You'll also decrease the need for stop payments and minimize account reconciliation tasks. Your employees will enjoy having access to payroll funds at the opening of business at their bank.
Efficient
Your office can eliminate the time-consuming and tedious task of check printing and check storage. Direct Deposit makes it easy for your employees - they won't have to leave work to cash or deposit checks. Employees can also use Direct Deposit to automate recurring deposits to multiple accounts. For example, they might choose to have a portion of their payroll checks directly deposited to a savings or money market account.
Subject to credit approval.
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