First Citizens Bank Digital Banking for Business User Guide

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Various types of payment methods are offered through Digital Banking for Business for business, including domestic wires and ACH payments. 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. You have the option to originate Same Day ACH transactions. With Same Day ACH, you can initiate credits or debits faster (generally, for an additional fee), and it’s likely less expensive than other payment methods like wire transmission. Please refer to the Fee Schedule for more information about what Same Day ACH transactions cost. The daily cutoff deadline for Same Day ACH transactions is 3:30 p.m. EST. Same Day ACH also has per transaction limits. Please call us at 888-322-4249 for a full list of wire and ACH fees or if you have any questions. Digital Banking for Business for Business Transaction Types

Type

Description

ACH Payment

Send a payment to one recipient.

ACH Batch

Send a payment to several recipients.

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

ACH and Wire Cutoff Times

• ACH Origination: 10:00 p.m. EST • Same Day Origination: 3:30 p.m. EST • Domestic Wires: 6:00 p.m. EST

Move Money (Payments & Transfers): Sending a Secure Message