Automated Clearing House (ACH) Services

Increase Efficiency and Convenience with ACH Transactions

The Automated Clearing House (ACH) system is a nationwide electronic payment and collection network that allows transactions to be posted electronically to accounts at virtually all U.S. financial institutions. At First Citizens, we've made it easy to use this system to streamline your payments and receivables.

Your company generates a specially formatted ACH transaction file and sends it to First Citizens. We will then carry out the transactions electronically, according to the instructions on your file. On the effective date, all transactions will post at both First Citizens and the receiving institutions.

The ACH system lets you originate various types of transactions.

Consumer/Commercial Payments

An efficient way to reduce the time — and costs — of distributing paychecks, expense reimbursements, dividends, interest, annuities, pensions and vendor payments. Benefits include:

  • No more check purchasing and processing expenses.
  • A complete audit trail of payments.
  • No more worrying about lost or stolen checks.
  • Employees will not have to deposit or cash checks during working hours.

Consumer Pre-authorized Collections

With Consumer Pre-authorized Collections, you know that funds for insurance premiums; utility, mortgage and rental payments; contributions and dues; installment loans; and merchant bills will always be available on their due date. Benefits include:

  • The ability to collect both variable and fixed-rate payments.
  • Lower bill preparation, mailing and processing costs.
  • Less time and money spent updating accounts receivable.
  • Fewer returned checks.
  • Improved cash flow and forecasting.

Commercial Cash Concentration

With Commercial Cash Concentration, you can easily transfer funds deposited in other bank accounts directly into a central First Citizens Concentration account. Benefits include:

  • Faster collection of funds, so you can meet disbursement needs or take advantage of short-term investment opportunities.
  • Better information gathering and reporting.
  • Elimination of costly wire transfers to consolidate funds.

To discuss ways to make your payments and collections more efficient and convenient, contact the First Citizens Cash Management Division at 1-866-733-2501 Monday through Friday, 8:30 a.m. to 5:00 p.m.


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