Automated Clearing House (ACH)
Automated Clearing House (ACH) is a computer-based clearing and settlement facility established to process the exchange of electronic transactions between participating depository institutions. ACH is ideal solution for improving your business cash flow and forecasting by possibly accelerating the transfer of funds at a low cost. You can take control of your transactions with accuracy and convenience. ACH transaction records will be available for monitoring and reconciliation to further assist you with managing your transaction activities.
Make Payments with ACH Credit Origination
Your business can use ACH Credit Origination to provide direct deposit to employees and vendors with just the receiver’s bank routing and account numbers. Whether it’s a one-time or recurring payment, the service will give your business the flexibility to transfer payments online securely to your personal and business recipients. For larger businesses, Bank of Hope offers corporate trade via CTX formats and an email notification system to accommodate your trading partners need for ACH payment details such as invoice number, date, and discount information.
Benefits of ACH Debit Origination
- Transfer electronic payments directly to your recipient’s bank account
- Decrease time devoted to invoice & payment processing
- Reduce exposure to potential fraudulent transactions
- Reduce processing costs with electronic funds transfer
- Reduce exposure to check fraud by eliminating paper checks
ACH is governed by NACHA. Current rules and regulations regarding ACH can be accessed via www.nacha.org.
Business Payroll & HR Solutions
Manage your time and employee attendance, human resources administration, tax reports, and more in one online integrated suite. Whether you are looking for an easier way to pay employees or to maintain compliance with your state’s HR laws, Bank of Hope has partnered with Heartland to provide payroll services with customizable solutions for businesses large and small. Features include:
- A dedicated single point of contact supported by a team of specialists who understand your business
- Integration with multiple time clocks and POS systems
- Federal, state and local tax filing and payments included in standard solution
- Secure 24/7 online access
- Simple pricing
To learn more about Business Payroll Solutions please call (800) 788-4580.
While Bank of Hope makes every effort to present accurate and reliable information on this site, Bank of Hope does not endorse, approve or certify such information, nor does it guarantee the accuracy, completeness, efficacy, or timeliness of such information. By providing the above information about Heartland Payroll Services, Bank of Hope does not guarantee the services provided and is not liable for any failure of products or services provided by Heartland Payroll Services. Bank of Hope does not have control or responsibility for the products and services provided by Heartland Payroll Services and assumes no responsibility for consequences resulting from use of the information or services contained herein. Bank of Hope is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, reliance on, or performance of such products or services.
Safeguarding your funds could be crucial for your business. Positive Pay is one of the latest fraud prevention solutions in banking to help your business fight against fraud. Whether it is checks or electronic debits, Positive Pay will help you control and manage transaction parameters before it posts to your business accounts.
Payee Positive Pay for checks
Import your business check issue file to the Payee Positive Pay system and set default parameters for your checks. Before the checks post to your business account, the Payee Positive Pay system will compare the checks as they come in to your check issue file for verification including, check number, amount, and payee name. Depending on the parameters you set, you can choose which checks to pay and return without them ever posting to your account.
Bank of Hope’s teller system works with Payee Positive Pay to detect fraudulent and altered checks at all branch teller lines. If a teller notices a check does not match or suspect fraud, your business will be contacted for verification.
ACH Positive Pay for electronic debits
Just like Payee Positive Pay, ACH Positive Pay works specific to ACH transactions. Bank of Hope offers ACH Positive Pay with Debit Block and ACH Filters to alert online payments and ACH debits before it posts to your business account. Businesses have only 24 hours to dispute any unauthorized ACH debit per NACHA rules and it is difficult to notice fraudulent electronic debits unless your account is reconciled daily.
- Place complete Debit Block on account thereby preventing any unauthorized access to the funds
- Place ACH Filters for trading partners with restrictions for amount, frequency, and time
To read more about Fraud Protection Solutions please see below PDF file.
Fraud Detection & Prevention
Online Wires Transfer
A wire transfer is an electronic payment service used to transfer funds through the SWIFT and/or Federal Reserve Wire Network System. Online wire transfers are a quick and reliable method of sending payments in speedy and securely manner at your convenience both domestically and internationally. Save trips to the bank and transmit payments request via online.
Bank of Hope offers same-day settlement for online wires, if processed within the cut off time, so that funds can arrive to a beneficiary bank within 1-2 business days.
For more information, please visit your nearest branch or email us at TMS@bankofhope.com.