Table of Contents

Online Glossary

Commercial > Single Payment

• Page Review: Making a Single ACH Payment
• When will my account be debited to fund this payment?
• What if I pick a payment date that is a processing holiday?
• If I create a recurring transaction and one or more of the recurring payments are on a processing holiday, what happens?
• What if I don’t like the day to which the recurring transaction was moved?

Page Review: Making a Single ACH Payment

The Single Payment page enables you to easily send money to a single recipient. See help on Making Commercial Payments to learn your other options for creating single, batch or file-based payments.

Creating an ACH Payment
To save a recipient and add a payment template for the recipient, follow these steps:

1. From the ‘Single Payment’ menu, choose the recipient for the ACH Payment, by:
• Selecting a recipient from the list. If none are displayed, you have not saved any recipients or payments. Please see help on Managing Recipients and Managing Payment Templates.
• To edit or override the pre-populated recipient information simply type the new value into the boxes provided on the page.
• For free-form entry of a new recipient, choose the “No Recipient” option in the list and manually enter the pertinent information. See help on Making Commercial Payments to learn the different ways to enter payment information.
2. If the transaction is to be made against a subsidiary company you have created, select the subsidiary from the "Pay From" drop-down menu. If no subsidiary is selected, the main company information will be used to make the payment. Also see help on managing subsidiary companies under Preferences>Subsidiaries. (This functionality is currently not available).
3. Choose the online account that the funds will be withdrawn/debited from for the payment.
4. Choose the effective date of the ACH payment. The effective date must occur sometime in the future.
5. Confirm the default amount or enter a new payment amount. NOTE: Submitting a zero dollar amount will send a pre-note to the recipient account.
6. Choose the type of transaction: PPD or CCD.
• PPD - Prearranged Payment or Disbursement, by definition is a Credit application that transfers funds into a consumer account at the Receiving Depository Financial Institution. The funds being deposited can represent a variety of products, such as payroll, interest, pension, dividends, etc.
• CCD - Cash Concentration or Disbursement, is an ACH debit or credit from or to a Business Account. Like PPD, proper authorization from the owner of the target account is required.
7. Enter the Memo/Addendum text that will be used for the transaction
8. If available, you can create a recurring payment by double-clicking on the ‘Enter Payment Frequency’ panel or single-clicking on the double-carat icon to the right of the panel and completing the recurring payment information. For help setting up a recurring transaction, see help on Creating Recurring Transactions.
9. Click ‘Continue’ to accept the details of the ACH Payment. You will be directed to the Transaction Preview page where you can draft (save), approve or cancel the newly-submitted transaction.
   

Frequently Asked Questions: Making a Single ACH Payment

Q: When will my account be debited to fund this payment?
A: Your account will be debited when we process the payment (the ‘Process On’ date) to meet your scheduled effective payment date. ACH payments are generally 2-day effective which means that they are processed 2 days prior to the scheduled effective payment date.

Q: What if I pick a payment date that is a processing holiday?
A: Our system will not let you create a payment that is scheduled to process on a holiday. You will receive an error message and be instructed to enter a new effective date for the payment.

Q: If I create a recurring transaction and one or more of the recurring payments are on a processing holiday, what happens?
A: As explained above, you will not be able to schedule the initial payment of a recurring transaction on a processing holiday. However, if the recurring instances of the transaction happen to fall on a processing holiday, the system will move that individual instance of the payment forward or back one day, depending on the payment type, to a non-processing holiday. This will occur when the previous instance of the payment has been processed and the upcoming instance is scheduled. Additionally, the user will receive a secure message indicating that an instance of the recurring payment was moved to another processing day.

Q: What if I don’t like the day to which the recurring transaction was moved?
A: You can cancel the rescheduled instance of the transaction via Accounts>Online Activity and create a new transaction to replace that particular instance of the recurring transaction. All future instances of the recurring transaction will remain scheduled based on the initial transaction schedule.