DISBURSEMENTS
Reliably Make Payments, So the Work of Doing Business Doesn’t Seem Like So Much Work
WHAT ARE YOUR BUSINESS GOALS?
- To save time and wire money online from the convenience of your computer?
- To streamline and consolidate your accounts payable process — from origination to reporting?
- To improve your accounts payable process from payment origination to reconciliation?
- To see how much time and money your business can save by outsourcing payroll?
Whatever your business goal, Vectra Bank® has a Disbursement Services solution to match your payables needs, including the options shown below.
ACH CASH DISBURSEMENTS
Automated Clearing House (ACH) Origination[cite::78::cite] lets you distribute funds to your own accounts, your vendors’ accounts and your employees’ accounts.
FEATURES AND BENEFITS
- Helps reduce administrative costs, potential interest or late charges on payments
- Reduces check stop-payment charges and reissue costs
- Lets you manage your accounts by scheduling ACH transfers and cash disbursements for various types of payments, including vendor payments, federal and state tax payments and employee payments, such as direct deposit payroll, expense reimbursements and pension payments
- Lets you monitor daily ACH activity online through the Anytime Gateway® service
- Same-Day ACH: Same-day settlement capability giving businesses an option to send and receive payments faster. See Same-Day ACH information below for more information.
NEED HELP FINDING OTHER ACH SOLUTIONS FOR YOUR BUSINESS?
Do you have questions about ACH Cash Disbursements or other ACH services? Vectra Bank is here to help. To speak to a banker to enroll in a new service, call 800–341–8156 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-232-8948.
SAME-DAY ACH
It’s an exciting time in the payments industry with several innovative initiatives underway designed to move payments faster. One of these initiatives is NACHA’s “Same-Day ACH Rule” which builds upon existing ACH Network next-day settlement capabilities and establishes a new same-day settlement capability giving businesses an option to send and receive payments faster.
FEDERAL GOVERNMENT
The federal government didn’t participate in phase one of the same-day ACH credit implementation. Therefore, any entry originated from, or received by, the federal government today, isn’t eligible for same-day settlement and is being settled on a future date. For example, federal tax payments don’t currently qualify for same-day ACH settlement.
NEED HELP FINDING OTHER ACH SOLUTIONS FOR YOUR BUSINESS?
Do you have questions about ACH Cash Disbursements or other ACH services? Vectra Bank is here to help. To speak to a banker to enroll in a new service, call 800–341–8156 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-232-8948.
ONLINE WIRE TRANSFER SERVICES
These benefits and features apply to both domestic and international wire transfer services.
- The Anytime Gateway® online business banking module provides a direct internet link to the Vectras Bank® Wire Department, giving your company the flexibility to send wires from anywhere with access to an online connection
- Includes expanded security controls, including personal identification numbers and maximum dollar limits on an account and/or individual basis
- Establish convenient prearranged wire instructions for repetitive transfers
- Schedule future-dated online wire transfers. Funds aren’t removed from the account until the wire settlement date (can’t exceed 90 days)
- Initiate drawdown requests to transfer funds from your or another party’s account at a different bank. With proper authorization on file at the receiving bank, funds are transferred to your account through incoming wire transfer
- Transfer funds to banks in from numerous foreign countries
Do you have questions about online wire transfer service? Vectra Bank is here to help. To speak to a banker to enroll in a new service, call 800–341–8156 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-232-8948.
Agreement applies. Fees may apply. See a financial representative for details.
OUTSOURCED DISBURSEMENT
An automated solution to consolidate your company’s payables using ACH payments. Process your check, ACH and credit card payments from a single file upload.
- Outsourced check printing allows for a more efficient distribution of checks
- A secure web site allows for easy management of printing jobs
- Better security through Positive Pay and controlled check stock
- Reduced processing and reconciliation time
- Customized solutions to meet your specific payable needs
Contract may apply.
PAYROLL CARD
Payroll card offers an electronic payroll for employees without traditional banking services or who simply want more options.
The Skylight ONE Card is a Visa® branded payroll card that provides access to funds at millions of ATM and retail locations — even online and over the phone.
- FDIC-insured
- More protection from fraudulent activity
- Seamless integration with employers’ current payroll systems
- Portable when changing jobs
- Instant issuance
- Worldwide acceptance
- Convenience checks to draw on funds
- Real-time funding
- 24/7 account information access
Agreement applies. Fees may apply. See a financial representative for details.
CORPORATE FOREIGN EXCHANGE
Discover multiple ways to make payments worldwide.
- Access reliable payment options when sending money to more than 60 countries
- Access an option for initiating foreign wire transfers that meets your company’s international payment needs — whether through your local branch, Treasury Gateway or the ZIONSFX® payment platform
- Receive competitive prices with real-time streaming exchange rates from multiple liquidity providers
- Initiate payments anytime from Monday at 8:00 a.m. to Friday at 5:00 p.m. ET with the ZIONSFX payment platform
- Access foreign currency accounts, hedging strategies and forward contracts to lock in preferential exchange rates and help protect your profit margin
- Use foreign drafts when you need a convenient, cost-effective way to make small payments in foreign currencies
Do you have questions about corporate foreign exchange? Vectra Bank is here to help. To speak to a banker to enroll in a new service, call 800–341–8156 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-232-8948.
Agreement and restrictions apply. Fees may apply. See a financial representative for details.
CONTROLLED DISBURSEMENT
Disbursements eliminate idle balances in your accounts and use your funds more efficiently.
By making collections with Controlled Disbursements, early each morning, checks presented to post that night are intercepted at a Federal Reserve location, and totals are reported to the web-based balance reporting service.
- Eliminates the need to forecast when checks will clear your account
- Eliminates idle balances to let you maximize interest income on deposits or minimize interest expense on loans
- Works with Positive Pay to improve control and security of your account
- Offers optional account reconciliation
- Includes image services to enhance and ease research
REACH OUT TO A TREASURY MANAGEMENT OFFICER
If you need assistance determining which products are right for you or have any questions please call 800-341-8156, email tmsupport@vectrabank.com or complete the form below.