ACH Credit allows business owners to transfer funds electronically. ACH Credit entries occur when a business owner initiates a transfer to move funds into a receiver’s account.
This service is useful for paying such things as bills, vendors, dividend or interest payments, and payroll for employees. Money can be credited by either uploading a file to or creating templates on your online banking page.
ACH Debit allows business owners to transfer funds electronically. With ACH Debit transactions, funds are collected or pulled from another person’s or institution’s account and transferred to the originator’s account.
This service is useful for businesses that collect recurring payments from their payers. Money can be debited by either uploading a file or creating templates on your online banking page.
All ACH transactions initiated before 6:00 pm will be processed the next business day.
For more information about Bank of Utah’s Business online banking, contact a Treasury Management Relationship Manager.