Northern Credit Union Digital Banking User Guide Business Users

7

Various types of payment methods are offered through the Business Banking platform, including wire and ACH transfers. Though both are quick electronic payments, wires are the fastest way to transfer money between accounts. ACH transactions are processed through a batch process, and funds are generally not available until the next business day. For a complete list of wire and ACH fees or if you have any questions, please call or text 315-782-0155. Wire and ACH fees can also be viewed at www.mynorthern.com/wp-content/ uploads/2020/08/FEE-SCHEDULE.pdf.

Business Banking Transaction Types*

Type

Description

Upload a NACHA-formatted file.

ACH Pass-Thru

Create ACH templates to credit businesses for services and distribute or consolidate funds between business. Create ACH templates to debit business accounts for goods and services. Create ACH templates that can be used to credit consumer accounts for payroll direct deposit, bonuses, refunds and more. Create ACH templates to debit consumer accounts for goods and services. Create ACH templates to accept one-time or recurring payments over the telephone from consumers. Create ACH templates to accept one-time or recurring payments from consumers over the internet.

Business Payments

Business Collections

Payroll

Consumer Collections

Telephone Collections

Internet Collections

Domestic Wire

Send a wire to a recipient within the US.

Send a wire to a recipient in a different country.

International Wire

*Underwriting guidelines will apply for ACH and wires. Call 315.782.0155 to talk with a team member now.

Getting Started: Business Banking Overview