All businesses have expenses. The key is to make payments as efficiently as possible.
Use direct deposit for payroll or dividends
Cover bills with electronic payments
Send wire transfers from your desktop
You want your assets working for you every possible minute. But when you send paper checks, you tie up money in bank accounts while waiting for checks to clear. Whether you’re paying employees, vendors or shareholders, moving money electronically is more efficient. It stays in your account until the last possible moment. And avoiding the mail reduces the chances of check fraud.
ACH Disbursement Services
Automated Clearing House (ACH) is an electronic network that handles large volumes of credit and debit transactions by individuals and businesses. Union offers business customers these ACH services.
- Use direct deposit for payroll, dividends, annuities or paying employee expenses
- Specify exactly when the funds are to be transferred
- Pay vendors and make regular utility payments with ACH funds transfer
- Meet payment schedules without tying up funds in the ordinary check-clearing process
Wire Transfer Services
You can initiate domestic and international wire transfers right from your office computer. Here are some of the benefits of Union’s wire transfer services.
- Benefit from multiple layers of security; specify exactly which employees are permitted to send transfers
- Move money quickly to domestic and foreign locations
- Set up transfers for a future date and repeating transfers
- Analyze your transfer history
- Save money by initiating wires through Advanced Business Online Banking