Find answers to some commonly asked questions
Commercial Advantage enables you to manage your First Citizens accounts online. You can view account information, transfer funds between accounts and access other services such as Automated Clearing House (ACH), wire transfer, positive pay and controlled disbursement. It uses state-of-the-art security combined with the simplicity of website navigation. Commercial Advantage makes it easy to manage all aspects of your business finances.
The basic Commercial Advantage package has nominal activity and excess item fees for up to three accounts. It includes previous-day as well as intra-day balance and detail transaction reporting, book transfer and stop payment services. Additional module, activity and excess item fees are added for ACH, wire transfer and some other services. Visit your local branch or call 866-FCB 4BIZ (866-322-4249) between 8 am and 9 pm ET Monday through Friday for more details.
Typically customers can begin using Commercial Advantage as soon as you leave the branch. You'll receive a welcome email to the email address provide at enrollment with your username and a link to activate your account. If you don't promptly receive your welcome email, please contact us at 866-FCB 4BIZ (866-322-4249) between 8 am and 9 pm ET Monday through Friday.
The welcome email will include your username as well as a link to activate your account. From there, you'll set up your password and register for one or more multi-factor authentication options. This link will expire after 7 days.
It's very easy. You don't have to know a lot about computers or even be at your business to handle financial tasks. With just the click of a button you can access most of the available services.
You can make transfers from any of your First Citizens business checking, savings or money market accounts to any of your First Citizens business accounts, including deposit accounts, commercial loans, lines of credit and credit card accounts. You'll have immediate access to your accounts and to your funds if you transfer between deposit accounts (checking, savings and money market). Transfers to your loan accounts will post as payments by the next business day. You can't transfer money to a mortgage account, Investor Services account or commercial leasing account. You can advance funds from a standalone line of credit account (excluding Capital Line) but not from other credit accounts.
You can download your account history using comma-delimited, tab-delimited or BAI format. You can also download account history into Intuit® QuickBooks® and Quicken® accounting software using Web Connect.
You'll be able to view all of your First Citizens business checking, savings and money market accounts, loans, lines of credit and credit card accounts. You can't access a commercial leasing account. Depending on the number of accounts you choose to access, there may be an additional charge.
Initially, you must designate a Company Administrator who will then be responsible for setting up access for other employees.
Yes. Your Company Administrator controls access at the service level: balance reporting, stop payment, book transfer, etc. The Company Administrator also controls employee account access.
First Citizens is dedicated to maintaining the highest level of online security. That's why we've made a commitment to protecting your company's financial information with some of the top internet security technology in the industry. Commercial Advantage is protected by multiple layers of online security to help protect all of your account data.
Visit our Privacy and Security for more information on how you can protect your account information.
Contact us at 866-FCB 4BIZ (866-322-4249) between 8 am and 9 pm ET Monday through Friday if you have questions or need assistance with Commercial Advantage, including ACH, wire transfers and Positive Pay.
For help using Commercial Advantage, click on the Help icon within Commercial Advantage. Or you can visit the Message Center from the Commercial Advantage home page to create a message.
Yes. As long as the payment is still in a pending status, you have the option to edit or stop the payment. Once the payment is processing, we don't have the ability to cancel or edit the payment. If a paper check was issued, you have the option to place a Stop Payment on the check.
Bill Pay will be available next business day after end of day processing.
The administrator will need to enable the Bill Pay permissions at the cross and per account level under Admin > Users > user to be modified> Permissions. This will enable the user to view the Bill Pay tab. Users permissions, such as, approval and limits can be modified by navigating to Bill Pay > Other > Manage Users.
The administrator has the ability to assign a starting check number for each account set up for Bill Pay by navigating to Bill Pay > Options > Manage My Accounts. The default check number currently assigned to all accounts is 10000. To prevent duplicate check numbers, Positive Pay customers should enter a five digit starting check number.
The check number will display once the payment has been submitted for processing. You can view the check number on the confirmation page or under Scheduled Payments.
Payments will be sent either electronically or by paper check. The delivery method will be displayed next to the Payee name prior to submitting the payment.
You can select your default page by navigating to Payments & Transfers > Bill Pay> Other > Personal Profile and clicking Default Page. Selecting ShortCut and saving your changes, loads the Payment page the next time you access Bill Pay.
Power User will display 50 payees on a single page for selection.
Customers receive notifications until the payment has been approved. Alerts are sent at 2 am, 6 am, 10 am, 2 pm, 6 pm and 10 pm.
Navigate to Options > Manage Bill Pay Accounts and click the Bill Pay Accounts tab. Click the edit link for the account to be notified.
Reports are available under the Option tab.
If you created special categories in the previous version of Bill Pay and no longer see those as a selection, you'll need to create those categories in Bill Pay.
The documentation you need to open a business account will vary based on your business type and business needs. Our Business Account Requirements provides a good place to start understanding what documents you will need during the account opening process.
The documentation you need to open an account will vary based on your business type and business needs. The Business Account Requirements should provide a good place to start thinking about the documents that we'll ask for during the account opening process.
A money market savings account delivers a higher interest rate on your liquid funds. And because our Premium Money Market Savings account offers tiered interest rates, the higher your balance, the more you earn.
We offer a variety of CDs, all with competitive interest rates. Premier Business Checking and Professional Business Checking customers earn preferred rates on CDs with a minimum deposit of $5,000. For current interest rates, contact your local First Citizens banker or visit your local branch.
Equipment Finance and Leasing
We offer a variety of commercial equipment leasing and financing options, which you can learn more about when you talk to a banker.
For most commercial business owners, the top two benefits are the ability to maintain cash flow and secure 100% financing. If you move forward with our program, the third benefit is that financing may be structured in a variety of ways to meet your tax and accounting needs.
Yes. A term loan or a capital lease allows you to depreciate the cost of the equipment. One of our Equipment Finance and Leasing Officers can review our commercial equipment leasing and financing options in detail with you and your accountant.
Yes. A business equity line allows business owners to tap the equity of their owner-occupied commercial property to meet both short- and long-term business needs. These needs might include the purchase of new property, additions and improvements to existing properties, and unexpected repairs or opportunities.
A commercial line of credit lets you borrow up to a certain limit and pay interest only on the borrowed amount. With a First Citizens revolving line of credit, you can borrow and repay funds again and again, as long as you don't exceed your credit limit.
Your personal guarantee may be needed depending on the size and type of your commercial credit request.
A term loan provides financing for capital expenditures (such as vehicle or equipment needs or fixed assets) that are regularly amortized over a period of time. A commercial line of credit allows you to easily access funds whenever you need them for short-term financing needs. A lease can help you with vehicle and equipment financing and has potential tax benefits.
If you prefer knowing what your interest rate and payment will be throughout the life of your loan, you should consider a fixed rate loan. In contrast, a variable interest rate loan may give you a lower rate and payment amount initially, with the chance that the rate and payment may rise or fall in the future.
Yes. We have various lines of credit to meet your commercial business's cash flow needs and will work closely with you to determine what line of credit is best for you. Talk to a banker to get started.
As part of your ACH Agreement with First Citizens, you're required to stay abreast of industry changes. We recommend you become a member of your local ACH Regional Association (E Pay Resources on the east coast) or visit Nacha.org for ACH rules changes. Often, when changes occur that significantly affect your ability to originate your ACH file (payroll, taxes etc.), we'll notify you.
You must receive authorization from your employees or customers to obtain the information needed to deposit funds into their checking and savings accounts for payroll, employee expense reimbursement, government benefits, taxes, other refunds, annuities and interest payments. Please reference the National ACH website (Section VII Appendices) for Sample Authorization for Direct Deposit through ACH (Credits) for more information.
The ACH Activity report provides details of transactions that have been returned to you with a reason for the return or Notifications of Change that require your attention. These reports are available for 65 business days for you to review. We encourage you to subscribe to the ACH Return or Notification of Change alert to receive an email when action is required by you.
Your company may submit a reversing ACH transaction. The reversing transaction may only occur if the error is due to an invalid or incorrect dollar amount. An ACH reversal must be submitted within 5 days of the settlement date of the original erroneous transaction. Reversals aren't guaranteed.
Yes. A Pre-note transaction may be submitted as a test. A Pre-note is a zero dollar transaction with unique transaction codes. Its intention is to verify both the transit routing and account number of a transaction. If either is incorrect, you'll be notified by a Return Resolution Report. It's recommended that you initiate a Pre-note transaction 3 days in advance of a live dollar transaction for first-time accounts.
Yes. To ensure items post in a timely manner to reach the receivers account for posting, we should receive:
- ACH Credit files (for Direct Deposit) at least 2 business days in advance of the effective (deposit or payroll) date
- ACH Debit files (for Automatic Drafting) at least 1 business day in advance of the effective (due) date
All ACH transactions submitted prior to 10 pm ET will be processed at First Citizens the same day for the delivery to your customer’s bank. Transactions submitted after 10 pm ET will be processed at First Citizens for delivery to your customer’s bank the next business day.
- If you send your Direct Deposit transaction the same day the payment is due (effective), your employees will not have access to their funds on time.
- If you send your Automatic Draft transaction the same day the payment is due (effective), you won't receive your deposit until the next day (settlement day).
- Same-day ACH transaction processing is available for same-day settlement.
No. Don't use deposit tickets as they have internal information on them that will not process through the ACH system.
An ACH Return report provides details about ACH transactions you have initiated that have been returned by the receiving bank. The report includes why the transaction was returned (Return Reason), account number, name, individual ID and dollar amount associated with the returned transaction. You may also receive a Notification of Change (NOC) report, which is sent by the receiving bank requesting that future entries contain the correct information. The correct information is provided to you in the NOC report. We encourage you to subscribe to the e.Statements/ACH activity alert to ensure you are aware if an ACH return or NOC report requires your attention.
Although we recommend submitting your Direct Deposit file 2 days prior to the employee payday to ensure timely delivery, ACH credit and debit files can be submitted 1 day prior to the effective date. Business clients can also enroll for Same Day ACH processing. An additional per-item fee may apply for Same Day ACH processing.
You can submit an ACH transaction reversal using Commercial Advantage. An ACH reversal must be submitted within 5 days of the settlement date of the original erroneous transaction. To access the ACH reversal function, locate the erroneous transaction in the completed section on the ACH Summary page. Select View for the transaction. Detailed information for the selected transaction is displayed. A Reverse option will also display. To submit a reversal, choose Reverse. If you need additional assistance, select Inquire for the transaction. Enter your question and then Send.
A customer service representative will respond to your inquiry within 1 business day. If you're sending files through DES FTP transmission, simply send the reverse entry in a NACHA format. Digital Banking for business customers should contact Business Support, 866-FCB 4BIZ (866-322-4249).
The bank will move the effective date to the next business day following the weekend or holiday. It's important that you consider weekends and holidays when determining your effective date so as not to cause your transactions to post later than you desire. For example, if your effective date is typically the 1st of the month for payroll transactions, and the 1st of the month falls on a Saturday, you'll likely want to change the effective date to the 30th or 31st of the previous month. Then, submit the transactions a day or two sooner, accordingly. In this example, failing to consider that the 1st falls on a Saturday would result in the effective date being moved forward to the next business day, the 3rd.
Financial institutions vary on how they handle transactions submitted on a non-business day. We'll process the transactions on the next business day following the weekend or holiday.
After a payment has processed and cleared, you can't make changes to that transaction. Detailed steps on the different ACH transaction types can be found in our Digital Banking for Business User Guide. You can learn more by watching the ACH payments and ACH templates videos on our Video Tutorials page.
If you're assigned the Manage Template and Recipient rights, you can edit or delete a recipient template. Detailed steps on the different ACH transaction types can be found in our Digital Banking for Business User Guide. You can learn more by watching the ACH payments and ACH templates videos on our Video Tutorials page.
An ACH number is similar to an ABA routing number. The difference is that an ACH number is used for electronic transactions.
An ACH payment is a type of electronic credit or debit payment initiated through the Automated Clearing House Network. The payment can be initiated between two banks or between two bank accounts that are held by the same bank.
Same Day ACH
Same Day ACH allows both credit origination (Payables) and debit origination (Receivables) transactions to process and settle same day. ACH transactions processed as Same Day will be available by the end of our processing day.
Almost all types of ACH Payments, including Credits, Debits, Tax Payments and non-monetary transactions such as Notifications of Change (NOC). Remittance Information (CCD, CTX) are also eligible for Same Day processing. However, International Transactions (IATs) and transactions above $1,000,000 won't be eligible for Same Day ACH.
Once you're enrolled in the service, First Citizens Bank must receive ACH batches submitted through Commercial Advantage or Digital Banking for business by 3:30 pm ET Monday through Friday for ACH Same Day processing.. ACH files submitted through our Data Exchange Service, or DES, will be processed that day if received by 4 pm ET.
We don't charge additional fees for our customers to receive Same Day ACH transactions. A fee of $1 will be charged for each originated Same Day ACH credit and debit transaction.
Existing ACH Originators should call 866-322-4249 to enroll in Same Day ACH. It's recommended that Originators review their systems to verify that they can create ACH files with the correct or intended effective date to accommodate Same Day ACH. All new Digital Banking for business customers that enroll in First Citizens ACH Service will automatically have access to Same Day ACH. Additional fees may apply.
Accounts payable get reconciled in a full cycle process that involves invoice capture, invoice approval, matching invoices to purchase orders, payment authorization and posting payments.
Accounts payable solutions help to organize your business's bill paying operations. An accounts payable workflow maps the end-to-end transaction process from purchasing to payment through with the aid of automation technology. The workflow process reduces fraud, resolves errors, and saves time and resources.
The procure-to-pay process is also known as purchase-to-pay and P2P. It refers to the entire purchase and payment process for billable goods and services purchased by a company.
Accounts payable automation, or AP automation, refers to the digital process and use of software to simplify, collect data and reconcile accounts payable. The AP automation process provides transparency, accuracy and more control in the cash conversion cycle versus traditional manual processing.
Automated Payables automates and streamlines the invoice and payment process from beginning to end. From an affordable, cloud-based platform, it gives you command of cash flow by integrating securely with your current accounting software and provides visibility for timely payments. For all electronic payments, remittance details are automatically sent to vendors. It has the ability to use virtual or corporate credit cards to help you earn rebates and cash back.
Yes. Automated Payables has the ability to import and export .csv files. We're happy to show you how this process works.
If you choose to issue ACH payments, we set up the ACH origination for you. You then issue ACH transactions using Automated Payables, or any other delivery channel.
While business bill pay through Commercial Advantage is convenient, it doesn't provide invoice processing and full control over payments. Automated Payables provides a secure invoicing workflow with customized controls and segregation of duties to protect against fraud—all in one application.
Your vendor receives a secure email containing the card data needed to complete the payment. Once the transaction is completed, you’ll see the transaction within Automated Payables service, on your card statements, and all rebates or rewards will apply. It’s a great way to take advantage of card rewards within your account payable process.
If you have a First Citizens Visa Purchasing card, you can easily add card payments to the payments used with Automated Payables. A single-use card number is sent securely to your vendor to take the payment, and the transaction appears on your card statement. Visa can assist you in identifying and communicating with your vendors to get broader card acceptance.
When you send a check payment from Automated Payables, we send your check data, including signature, as part of the setup to Harland Clarke®. The check is then printed and mailed first class to the vendor address in Automated Payables. An email is sent to the vendor to let them know the check was issued. You have the option of sending checks express mail if you need, however additional postage is required.
Automated Payables tracks any payment delivery method you choose. If you pay a vendor through their online portal, a manual check or with cash, you can manually enter the payment into the payment workflow for approval and tracking.
No. Other payment options available are check, virtual card, vendor online portal and manual payment. You can use all or just some payment types and set default payments specific to your vendors. This creates efficiencies and control over all of your accounts payable processes, and provides reporting visibility of your cash flow.
Automated Payables provides you with a dedicated email address that you give to your vendors for sending invoices. If you receive paper invoices, you can scan and send them to that address. Automated Payables extracts the header information and line item details. It's an overnight process, but you can enter the invoice information directly, if you choose.
Automated Payables can help you go paperless with your invoice capture and approval processing. You can have vendors email you invoices. Automated Payables then collects the data directly from the invoices—you'll no longer have to scan them. Approval workflows can be customized at the company or vendor level to process payments much more efficiently.
Yes. You can make a manual check payment while still taking advantage of invoice capture and approval. The payment approval and workflow would still be part of the Automated Payables process, you would just issue a paper check. The approval and audit trail would be within Automated Payables and your accounts payable software.
First Citizens Bank
PO Box 29507
Raleigh, NC 27626
Yes. You can use Automated Payables as a standalone service to help streamline your accounts payable processes. You'll benefit from invoice capture, approval workflows, payment approvals and initiation workflows.
Yes. Other payment options available are check, ACH, vendor online portal and manual payment. You can use all or just some payment types and set default payments specific to your vendors. This creates efficiencies and control over all of your accounts payable processes, and provides reporting visibility of your cash flow.
No. Positive Pay is an optional service that can enhance your current risk management processes by examining checks for fraud. However, using Positive Pay as part of Automated Payables enables you to automatically have your check issue file become a part of the check register that we validate. If there are any checks that don't match the payee, dollar amount and date that you issued, we'll let you know through Commercial Advantage.
The association’s insurance typically includes property and casualty policies for all common area property and equipment. In townhome associations, this usually includes the entire exterior of the structures. In condominium associations, this usually includes the entire structure of the building. It may also include liability and directors and officers policies that cover directors, committee members and volunteers working on behalf of the association. For complete information about your associations insurance coverage, please contact your association directly.
Visit our Property Management Resources page and select the link for the online account you wish to access.
Foreign Exchange Services
FXEnvoy is our online international payments client portal that empowers businesses with a fast, efficient and secure method for facilitating international business from the convenience of their computers. It offers real-time FX rates, FX payment and risk management solutions as well as our new Multi-Currency Accounts in a secure online environment.
Sending an international payment online with FXEnvoy is a simple process that can take less than a minute. Just book your FX transaction online and apply your beneficiary’s payment instructions. Once you book your exchange rate, it’s locked in and will not fluctuate prior to delivery.
Unless the beneficiary has specifically requested US Dollars, generally, it may be beneficial to send your payment in the local currency of the beneficiary. US dollars sent to an account that is denominated in a foreign currency may take longer to be received and may incur higher bank charges than if you send the local currency.
A wire transfer is more efficient than a foreign draft and funds are usually available immediately upon receipt by the beneficiary.
IBAN stands for International Bank Account Number. It’s a domestic account number standard for all retail and commercial payments in the European Union. A growing number of other countries have also adopted this same format for routing domestic payments. IBANs are assigned by foreign banks to their customers and can consist of up to 34 alphanumeric characters.
Our payment platform has a built in IBAN validation that will let you know if the IBAN is not valid.
We utilize multiple layers of security in order to help safeguard your confidential information including two-factor authorization and maker-checker functionality for templates and payments.
Normal bank approval applies.
Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.