Manage working capital and streamline expenses
Deposit funds directly into customer accounts.
Capture invoices automatically to process payments faster.
Get rid of idle balances by depositing available funds.
The right tools to manage your business
A full range of products
First Citizens Bank offers a suite of corporate accounts payable services that allow you to run your business more effectively and efficiently.
Quick, electronic payments
Let clients and employees receive payments faster, eliminate the costs of generating and mailing checks, and mitigate the risk of tampering and loss that can come with using checks. If your company has multiple locations that make deposits into other banks, cash concentration can help you transfer those deposits into your First Citizens account, making all your funds accessible in one location.
Keep tabs on cash
Controlled disbursement services provide notifications each morning for checks that will clear against an account that day. You can then move funds into the account to cover the payment or use excess funds for other purposes.
Deposit money from anywhere
Earn more from your business
People often ask us
The ACH Return Resolution report information is available and accessible through the Business Online Banking Advantage® (BOB Advantage®) by choosing the "Reporting" section. The Return Resolution report is a critical part of being able to process our Direct Deposits. On a daily basis, these reports will detail any transaction that was returned to you and you have not received your credit. It will also show any account information that has changed or is no longer valid. To access the report, select either the Standard or Custom ACH Report option located under Bank Reporting on the Account Management Reports page. Your Return Resolution and Notification of Change Reports are accessible for 14 calendar days.
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 reference Nacha.org for ACH rules changes. Often, when changes occur that significantly affect your ability to originate your ACH file (payroll, taxes etc.), a notice will be posted on BOB Advantage.
First Citizens adheres to our ACH Operator processing guidelines which are recommended to ensure timely delivery. Business clients can enroll for same day ACH processing.
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 Return Resolution Report details significant information about your transactions. The most important information includes, but is not limited to, why the transaction was returned (Return Reason), account number, name, individual ID and dollar amount associated with the transaction.
Normal bank approval applies.
Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.