Electronically debit and credit checking and savings accounts using the Automated Clearing House (ACH) network as an alternative to paper checks and wire transfers. Several functions can be performed through the ACH network, including:
- Direct deposit of payroll
- Direct deposit of corporate dividend payments
- Direct deposit of expense reimbursement payments
- Corporate trade payments
- Pre-authorized debits for recurring payments such as insurance premiums
- Electronic tax payments
- Back-end reporting on electronic payments received via transmission, or Web InfoPLU$
M&T offers a full complement of ACH payment origination options including touch-tone phone, personal computer and direct transmission. We can accept input data in multiple formats.
M&T's dedicated installation specialists will assist you with all the technical components of ACH origination. We'll help you get set up, and answer any questions you may have along the way.
What can M&T's Electronic Payment Services do for you?
- Reduce administrative costs
- Easier account reconciliation and fewer check processing charges. Plus, you won't have the problem of damaged, lost or stolen checks
- Confirm the status of ACH payments and benefit from convenient self-service using ACH Monitor
- Improve employee productivity
- Reduce the amount of time spent preparing checks for dividends, reimbursements, routine payments and more. That allows you to focus on more important work issues. You can also warehouse payments for future processing. With direct deposit of payroll, your employees' pay is automatically available by 8am on payday -- no need to go to the bank during work hours. Employees receive a pay stub detailing their payroll payments
- Enhance Treasury Management
- Benefit from predictable cash flows because of uniform settlement dates. This allows for more precise investment timing decisions
In addition, M&T Bank offers an ACH debit filter product which allows users to limit third-party debits on their account to pre-authorized parties.
Additional Information and Resources
To find out more, please send us an email, call 1-800-724-2240 to speak to one of our experienced Commercial Service Team representatives, or contact your M&T Relationship Manager.