Electronic processing of transactions provides additional options for you, your employees, customers, and vendors while increasing efficiency. Our ACH Origination Services may be used to pay your employees and vendors, collect receivables or control cash flow between your company’s accounts at multiple financial institutions.
Spotlight on Direct Deposit
Direct Deposit has been available for over 40 years and continues to grow in popularity for one very simple reason – it makes good sense. First Utah Bank allows you to electronically deposit your employee’s net payroll into their bank account using ACH Origination Services. Employees quickly see the benefits of improved safety, simplicity and efficiency and you realize lower payment costs from reduced check issuance and cash handling. Need even more reasons to get started?
- Studies have shown that the average employer saves approximately $3.00 per payment by offering Direct Deposit instead of checks.
- Businesses of all sizes can offer Direct Deposit
- Employees who have their payroll deposited through ACH can access money in their accounts at their financial institution’s opening of business on payday. They never need to go to the bank during business hours to deposit their paychecks.
- Problems with Direct Deposit are rare – we have a team of people who will work with you to get things set up correctly and help structure an efficient and effective process based upon the unique needs of your business.