The Automated Clearing House is a nationwide electronic network that processes large volumes of financial transactions in batches. ACH credit transfers include direct deposit payroll and vendor payments. ACH debit transfers include regular monthly collections, such as for rental and contribution collections.
Drake Bank brings the power of this network to your business through our internet banking Cash Management product. Through your existing business checking account we can use the network to issue payments or collect receivables.
A very common and productive use of ACH is reducing payroll costs by keeping payroll in-house and paying your employees electronically. We can arrange for the security you want in payroll administration while providing your business with greater control over your cash flow. ACH means less paper and more savings.