Deposit funds faster with First Citizens Automated Clearing House (ACH) services. This service allows you to electronically deposit funds to your employees and customer accounts in a safe and convenient way. Our ACH Direct Deposit service requires your customer to grant you authority to deposit funds into their account. Disburse your credit payments securely online through easy-to-manage websites or our secure file transfer protocol system.
Benefits of ACH Direct Deposit
Accommodates one-time and recurring deposits for payroll, reimbursements, tax and other refunds, annuities and interest payments
Eliminates the cost of generating checks, mail and postage
Offers customers a convenient way to have funds deposited into their account
Expedites availability of funds deposited for your customers
Provides detailed reporting for any credit returned or incorrect information
How the Service Works
It's easy to move funds and send money using Automatic Payment (Disbursement) Solutions for your direct deposit needs.
Obtain your employee or customer’s authorization to credit their account.
Authorization may be obtained in writing, orally or by other non-written means.
Although an authorization is not required for a reversing entry that complies with the NACHA Rules, you are encouraged to obtain direct authorizations for these entries.
You must retain the original or a reproducible copy of the Receiver’s (employee/customer) authorization for two years from the termination or revocation of the authorization, and must be able to provide your Originating Depository Financial Institution (OFDI) with an accurate copy within the time period required by the ODFI.
Use BOB Advantage to send your ACH transactions for direct deposit. Create and store ACH templates for recurring transactions or to send one-time payments. You can also upload NACHA compatible files directly through BOB Advantage from your accounting software. Learn more about BOB Advantage.