ACH Payments

Automated Clearinghouse (ACH) Payments, allows your business to make payroll, disbursements, suppliers or tax payments, and submit collections transactions, among other types ACH payments.

Benefits:

• ACH Payment instructions can be delivered to the Bank through Scotia On Line for Business or transmitted directly via an automated file transmission.
• ACH Stop Payment capabilities
• ACH Validation Report is available on-line to view the status of your submitted ACH files, including ACH Return information.
• Scotiabank customers subscribed to ACH Payments may now be eligible for origination of Same Day Payments.

Collections – Simplify and streamline your receivables processes with pre-authorized payments.

Our Collections service speeds up your collections by allowing your company to collect regular, recurring receivables such as bill payments, tuition or subscription fees, by automatically debiting your customers' accounts.

With quick and efficient collections, your business can benefit in a number of ways by:

• Saving administration time
• Eliminating processing and collecting costs, and
• Enhancing the predictability of your cash flow

Direct Deposits – With our Direct Deposit service your payroll is electronically deposited into each employee's designated account.

• Save time and money by avoiding the costs of check handling, printing and reconciliation
• Increase productivity since employees won't have to visit their bank branch during working hours to cash checks
• Enhance security for your company and your employees by eliminating the possibility of lost or stolen checks
• Direct Deposit may now be eligible to be received by the beneficiary on the same day originated. Contact us to find out more information about Same Day Origination of ACH Payments.

Disbursements – An efficient way to pay your local suppliers and vendors.

Scotiabank's Disbursements service provides a quick and simple way to pay your local suppliers or business vendors electronically from your computer.

The Disbursements service can save your business money by eliminating check-issuing charges, reducing storage/handling fees and financial losses related to fraud. With this service, you control your payments, so you can manage your business cash flows more effectively and improve cash forecasting.

Disbursements may now be eligible to be received by the beneficiary on the same day originated. Contact us to find out more information about Same Day Origination of ACH Payments.