Business efficiency + fraud prevention.
ACH (Automated Clearing House) origination allows a business to create electronic payments and deposits.
Businesses save the time and the expense of writing, processing, mailing, and reconciling checks. Electronic ACH payment capability is ideal for recurring payables such as payroll, expense reimbursements, vendor payments, pensions, and taxes. ACH is also useful for one-time payments. Electronic payments are also more secure than check payments, which create more exposure to fraud.
Businesses can convert receivables into working capital safely and efficiently with ACH. You can eliminate the slow and time consuming process of collecting and processing recurring payments from your clients. Collecting items through ACH also means fewer errors—and fraud–compared to traditional check payments.
- Make and receive payments electronically
- Expedite the gathering of recurring receivables like payments and monthly fees
- Streamline your payables by reducing your payment processing time and costs
- Reduce the costs associated with vendor payments
- Direct deposit payroll capability for employees
- Eliminate the risks and costs associated with lost or stolen checks
- Improve understanding of your business cash flow
Employee Direct Deposit
Paying or reimbursing your employees is easy and safe with Employee Direct Deposit. You can transfer paychecks directly to employees’ accounts, make one-time payments for reimbursements or schedule recurring payments.
Tax Payment Services
Use one convenient service for your federal payments. Initiate online tax payments to multiple federal entities via our secure website.
Use Your Own Accounting Software
If you use QuickBooks® to run your business, our Business Online Banking service can make it even more convenient by integrating your software with our Business Onling Banking system via Intuit’s DirectConnect. You can now easily integrate your Honor Bank business account with QuickBooks®!
Secure tokens provide an extra layer of security with Multifactor Authentication for ACH transactions. The tokens generate a simple, one-time authentication code that changes every 30 seconds. You will be able to access your accounts online by combining your existing login credentials with the token codes generated by your authenticators. The result is a unique, one-time-use passcode that positively authenticates you and only permits access to your online banking if the code is validated.
- Desktop or Mobile App Token – May be downloaded free of charge at vip.symantec.com
- Physical Token – This is a tangible, transportable item that can be attached to a keychain. The cost is $20 per token.
Control Employee Access
Business Online Banking lets you control how many employees have access to your business accounts. Grant access to several employees or only a select few, while controlling which accounts they can view and manage. You can also make it a requirement for two individuals to complete a transaction with the optional dual authorization feature.