BankWest: User's Guide Online & Mobile Banking Business Edition

5

Getting Started

Transaction Type Overview

Various types of payment methods are offered through Business Online Banking, including wire and ACH transfers. Though they are both quick electronic payments, wires are the fastest way to transfer money between accounts. ACH transactions are done using a batch process, and funds are generally not available until the next business day. Note : BankWest offers Same Day ACH Services for online banking customer using our Classic package of services. This service offers the flexibility to process Same Day ACH activity separately from non-Same Day ACH activity. Contact our Cash Management Services specialists at (605) 224-7391 or (800) 253-0362 for more information. Please call us at 605-224-7391 or 800-253-0362 for a full list of wire and ACH fees or if you have any questions. Business Online Banking Transaction Types

Type

Description

Upload a NACHA-formatted file.

ACH Pass-Thru

ACH Payment

Send a payment to one recipient.

ACH Batch

Send a payment to several recipients.

ACH Receipt

Receive a payment from one recipient.

ACH Collection

Receive a payment from several recipients.

Domestic Wire

Send a wire to a recipient within the US.

Send payroll to several recipients. If a recipient has more than one account, you can split that payment into several accounts.

Payroll

Send federal, state or local tax authority payments.

Tax Payment

Getting Started: Transaction Type Overview