With the Business ACH widget, you can electronically send and receive funds, making these types of transactions quicker, safer, and easier. ACH transactions are commonly used for things like payroll direct deposit, invoice payments, and recurring bill payments. You can also create templates for recurring payments or collections.
Setting Up Business Users to Initiate and Manage ACH Transactions
Refer to User Management, Roles, & Authorizations (Business Admin widget) for information about roles.
Please note the following with regards to ACH limits:
- Businesses can perform ACH transactions up to $50,000 daily, $100,000 in a rolling seven days, and up to $200,000 in a rolling 30 days.
- Authorized users can be assigned different limits based upon transaction needs for your business. Refer to the Business Admin widget in Internet Banking for more information.
ACH Cutoff Times
ACH requests must be completed and received by 2:00 pm ET, Monday through Friday, for same-day processing. ACH requests completed and received after 2:00 pm ET, Monday through Friday, or on a Saturday, will be processed on the next business day.
Payees and Payment Methods
- A business user must be logged into Internet Banking to add a payee and/or create an ACH template.
- Before a business ACH template can be submitted, a business user must set up Payees. Business users who are assigned the Manage Payees permission can add, edit, and delete payees.
- Once a payment method is added to a payee, that payee will then be eligible for payments related to the added payment method.
ACH Templates and Payees
- An ACH Template is a set of instructions, that once created and saved, can be used in the future as the starting point from which to send payments, saving time and reducing processing errors.
- ACH Templates and Payees are created, modified, or deleted by accessing the Payees tab, located within the Business ACH widget.
- ACH Templates cannot be edited or deleted using a mobile device.
- The Business ACH widget allows business users to submit ACH debit and credit template requests.
- Below is an overview of the functionality available within ACH Templates:
- Create an ACH Template: This feature enables authorized business users to create new ACH templates.
- Copy an Existing ACH Template: The copy feature allows users to copy existing ACH templates.
- Edit an ACH Template: Allows business users to edit the Name of the template, Company Entry Description, Offset Account, and the Access Level. Edits cannot be applied to templates pending authorization, authorized templates, or future-dated templates.
- Delete an ACH Template: Allows permitted business users to delete ACH templates. Deletion is not applied to templates pending authorization, authorized templates, or future-dated templates. Note: To cancel a future-dated template, click the Scheduled tab and click the Cancel button to cancel the template to prevent it from being processed.
- ACH Template Payees: Before a business user can add payees to a template, the business user must have one or more payees with ACH payment methods and must be assigned to a role with the Manage Template Entries permission. Note: ACH Template Payees cannot be deleted using a mobile device. Business users can add payees or edit ACH Template Payee amounts and statuses using a mobile device.
- Edit a Payee in an ACH Template: The edit payees feature allows business users to edit payee records in a template. Note: Changes to payees are not applied to templates pending authorization, authorized templates, or future-dated templates.
- Remove a Payee from an ACH Template: The remove payee service allows business users to remove payees from a template.
- When submitting an ACH Template, the Deliver By date represents the date the template transactions are expected to settle with the payee’s (credit templates) or the business’ (debit templates) account.
- The Scheduled ACH Payments feature displays today and future-dated ACH submissions. Business users may search for scheduled ACH templates, view details, and cancel future-dated templates. Note: Scheduled ACH payments cannot be edited or canceled using a mobile device. Business users can only view scheduled ACH payments on a mobile device.
- Business users cannot edit a scheduled ACH template; they must cancel the ACH template request and submit a new request.
Authorizing ACH Requests
- If an ACH transaction or ACH template change requires secondary authorization, the transaction/change must be authorized by another business user in the Business Admin widget.
- Any template submissions above the single limit will require secondary authorization. For the single limit to be used effectively, the master user and at least one authorized user must have access to the Business Admin widget.
- Business ACH submissions in a Needs Authorization status that have not been authorized prior to HVCU's ACH cutoff time (2:00 pm ET, Monday through Friday, for same-day processing) are automatically marked Expired and cannot be processed. A new ACH request must be submitted.
Business ACH Widget Navigation
There are three main tabs to use when navigating throughout the Business ACH
widget: Templates, Scheduled,
- Templates Tab: The Templates tab displays Template Details and Template Payees to create, edit, and schedule an ACH template (submission) for HVCU to process.
- The Scheduled Tab: The Scheduled tab displays future-dated ACH submissions that have not yet been processed. In Internet Banking, select the Show Search button to search and view fields for scheduled ACH submissions, view scheduled ACH submission details, and cancel future-dated ACH submissions using specified search criteria. Note: Mobile Banking only provides business users the ability to view scheduled ACH submission details.
- History Tab: The History tab displays pending batches and submissions that have been processed or rejected by HVCU, rejected when in a needs authorization status, or canceled by a business user.