Automate your accounts and make funds available faster
Convenience and Cash Flow
Offer convenience and improve cash flow with ACH receivables.
Reduce billing expenses with less paper, printing and postage.
Outsource the collection, processing and posting of payments.
Better cash flow means better business
A full range of products
First Citizens corporate accounts receivable services provide flexible payment solutions to accelerate cash flow and optimize your business.
Get paid faster
Replace paper invoicing with electronic bill presentation and payment. ACH receivables offers convenience to your customers and reduces their costs to make payments while allowing you to collect payments quickly and securely.
Digital and electronic payment services such as lockbox processing, check recovery and eReceivables allow you to outsource the collection, processing and posting of payments, making funds available faster. Save time and money, improve security and accuracy, and deposit checks faster with commercial image cash letter and remote image deposit.
Deposit money from anywhere
Earn more from your business
People often ask us
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.
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 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 It will also show any account information that has changed or is no longer valid.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.
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'll not receive your deposit until the next day (settlement day).
- Same day ACH transaction processing is available for same-day settlement.
Normal bank approval applies.
Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.