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Started By
Message
How typical is it for banks to use checks for business account payments instead of ACH?
Posted on 9/20/23 at 8:44 pm
Posted on 9/20/23 at 8:44 pm
So we went with a smaller bank for our business account. When I stated to add payee accounts for invoice payments I noticed that it you couldn't input all the banking info. I called the bank and they said they try and locate the account but if they can't find it they send a hard check but normally it is sent via ACH.
Well they are sending hard checks every time which is causing issues being that most companies we deal with run everything electronically.
Is this normal because I am ready to switch banks over this BS.
Well they are sending hard checks every time which is causing issues being that most companies we deal with run everything electronically.
Is this normal because I am ready to switch banks over this BS.
5
Posted on 9/20/23 at 8:53 pm to GREENHEAD22
In my experience, small banks and credit unions aren’t up to speed on technology.
Unless you have a great relationship with a higher up who can get you things you won’t be able to otherwise, I’d switch to a larger institution or it’ll just keep causing issues down the line. Because now you are a business that “doesn’t do ACH….”
Unless you have a great relationship with a higher up who can get you things you won’t be able to otherwise, I’d switch to a larger institution or it’ll just keep causing issues down the line. Because now you are a business that “doesn’t do ACH….”
Posted on 9/20/23 at 9:08 pm to horsesandbulls
Yes which isn't acceptable in our industry.
Posted on 9/20/23 at 9:21 pm to GREENHEAD22
Why wouldn't they want float? Given choice if I was bank would want to do check every time.
We are exploring ACH payment but not far enough along to add value here.
We are exploring ACH payment but not far enough along to add value here.
Posted on 9/20/23 at 9:49 pm to GREENHEAD22
We live in the year 2023, last I checked. If the bank doesn't want to do ACH, I'd be at a different bank tomorrow. My company, and the vast majority of companies, literally couldn't function without ACH transfers. Hell, how does your bank direct deposit into employee bank accounts?
Posted on 9/21/23 at 5:38 am to BottomlandBrew
Been in banking 25 yrs. This is insanity and really banking 101 these days (consumer or commercial). Sounds like they’re treating more like regular old school bill pay vs a true ACH function. I’d run quickly.
Posted on 9/21/23 at 6:43 am to GREENHEAD22
I am commercial banker for a community bank in Baton Rouge. It sounds like you are using bill pay vs a standard ACH. Ask the bank you are working with if they have a commercial platform where you can upload ACH payments and they will send those as a batch through ACH system.
If they cannot reach out to me and I will help you for sure.
If they cannot reach out to me and I will help you for sure.
Posted on 9/21/23 at 1:17 pm to GREENHEAD22
Where are you? We're a smaller community bank and we'd set you up with our Treasury Management department for something like that. Not sure how small of a bank you're with, but we're ~$800M and have it. Sounds like the bank you're with is pretty conservative and hasn't found the value in adding ACH or they're being extremely risk-adverse.
Posted on 9/21/23 at 6:38 pm to GREENHEAD22
ACH payments on the receiving end dont work
All you see on your acct is a deposit with no invoice , name adreess or reference number
The bank sends an email to you stating they have paid ACH and you have no idea when ach will depisit it to your acct
So when you have say 10 deposits showing on your bank acct, you have no idea which invoices they were for
ACH is a piece of shite if you use it for AR's
All you see on your acct is a deposit with no invoice , name adreess or reference number
The bank sends an email to you stating they have paid ACH and you have no idea when ach will depisit it to your acct
So when you have say 10 deposits showing on your bank acct, you have no idea which invoices they were for
ACH is a piece of shite if you use it for AR's
This post was edited on 9/21/23 at 6:42 pm
Posted on 9/21/23 at 7:58 pm to soupboy10
You are correct I talked with them today and they are going to get me set up with ACH through the bank instead of through BillPay which is a 3rd party company.
Why they don't do this from the start Inhave no idea.
Why they don't do this from the start Inhave no idea.
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