Payments & Disbursements
Send and track payments and disbursements with ease
First Bank & Trust offers one of the most advanced Bill Payment Services for businesses. You can initiate payments to vendors, suppliers, or creditors. Users can setup and or approve a payment, initiate auto pay and setup reminders. If your business has different companies, each company has its own Bill Pay page. And, you can access several custom report types to print or download. Learn more about our business online banking platforms.
Reduce your risk of check/ACH fraud loss. Save time and the expense of manual check review
Positive Pay is a reconciliation service that ensures that the Bank only pays checks or ACH debits that your company has issued. Here’s how:
- Each day you transmit a data file listing the checks that your company has issued
- After checks are cleared, they are matched with the data you provided and if the match is not exact an ‘exception’ is produced by the Bank.
- You review these exceptions and pay or return the item.
- The system checks for serial number differences and amount differences, and payee name – encoding errors are caught right away.
- For ACH when a debit hits the account you accept or return through the Exceptions Manager. You then can set a rule for that ACH to always pay.
- Ability to upload check issue information in a file format you define to match your system
- Online decisioning with image integration; you can see an image of the check(s) that are exceptions
- Various reporting options, including outstanding check issues, decisions made, and stale items
- Month-end Outstanding Checks Report available online
You can initiate and control payments to employees, customers or suppliers by creating an ACH file for transmission directly from our Business Express online banking portal. This service can be used for employee direct deposit. You can upload a NACHA file from your software or we can accept CSV or text file formats to import into a template to be used repeatedly. These electronic payments can settle next day or a month out and can be scheduled to go automatically.
When you need to transfer funds the same day, a wire transfer is a fast, convenient, and low cost option. We accept requests in person, fax, or our website. Through Business Express wire templates can be created saving time and errors. You can also send multiple wires in one day. We also send International wires in foreign currency at very competitive rates.
If your company does business in foreign countries, we can help facilitate transactions outside the U.S. A foreign draft allows you to remit payment in the currency of the country in which you are doing business and limits exchange rate fluctuations.
Call a Treasury Management expert at 1-847-733-7400 or contact us online. We are ready to help.