Streamline your payables processes and save time.
Electronic payments can be used to disburse funds such as direct deposit of payroll, expense reimbursement, royalty payments or vendor payments.1
With electronic disbursement payments, you maintain control of available funds until the moment you need them to cover disbursements. When you provide the information electronically, you also reduce the time and expense of writing, processing and reconciling checks.
The items are processed automatically and the payees’ accounts are funded by a single debit to your First Bank account.
- In most cases, electronic transactions are less expensive to initiate and reconcile than paper instruments
- Eliminates costs associated with a paper-based payment system, including printing and storing of checks, as well as preparation and postage expenses
- Reduces check fraud losses
- Submit transaction information directly through our online banking system
Consider this service if your company:
- Pays payroll, pensions, expense reimbursements, annuities, dividends, interest, royalties or tax payments
- Has vendors interested in electronic payments
1. Subject to credit approval.