Florence Bank Business Online Banking

ACH Origination – Overview An Automated Clearing House (ACH) transfer is the electronic transmission of a file which contains pertinent information to the movement of funds between accounts. An ACH transfer is commonly used to expedite direct deposit of payroll, pay bills, concentrate funds from other financial institutions or collect membership dues. An ACH transfer generally consists of multiple transactions and is referred to as a “batch”. The next pages cover: > Participants > Batches

> Approve/Activity > ACH Pass-Thru > ACH File Import

At the Company’s option, ACH batches may be sent on the authority of a single User or require dual control where one User initiates the batch and a second User approves it. Batches initiated under a single User’s authority will be processed immediately — no approval is required. If the batch requires dual control or it exceeds the User’s transaction and/or daily limits, it is given a status of Pending. A User with approval authority must then approve the batch under the Approve/Activity function.

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