ACH Payroll and Payment

Click here for the ACH payroll guide

Can I limit the access of a user I grant permission to my account?

Yes, this is done at the Administrative level in “User Management”

Do all ACH Applications go through an approval process?

Yes, we use an internal Risk Rating system. If your account has been opened less than 90 days we require current financials (last 3 months of bank statements) along with the number of years in business and current business entity documents. Additional information may also be requested and used in evaluating the application.

Do you provide the ACH form for my employees to complete for ACH Payroll?

No, as the business owner entering into this agreement, you are required to provide that document based on your business needs.

Can you export and import files from other accounting systems (i.e. Quick Books)?

Yes. Our system will import any system’s compatible NACHA File, and act as a Pass-Thru ACH to pay employees or vendors.

How are the ACH files delivered?

The file is initially created and submitted by you. Once you submit the file, it will be transmitted to our accounting department. The NACHA file is sent from our institution to the Federal Reserve for processing.

NOTE:

The information you will have to gather for your payroll file is: Employee name; account number and bank routing number for ACH’s
The information needed for an ACH payment is the name of the payee and their bank routing/ABA number

How do I know my business’ ACH approval limit?

The limits are requested by you initially based on your business needs. The request and application will be reviewed for approval based on our policy and procedures. Your approved limit will be discussed with you and provided to you by the Business Treasury Manager prior to set up of your service. If you intend to increase your limit above the approved amount, a two week notice is needed to have the system updated, and a new exposure limit application will need to be completed).

How long does the process take for approval?

The approval process can vary and is based on the completion of the Application and Agreement correctly and return of all required documents before the approval process begins.

Is there a fee for sending my employees’ direct deposit who are NOT members of FCCU?

Yes, there is a fee applied to any ACH transaction internal or external and is $.50 a transaction. It is a great idea for your employees to have their account here for payroll purposes. We have multiple share branch locations that can be utilized for deposit transactions and convenient banking.

Is there a fee for the ACH file?

Yes, the fee is $5.00 per file. Individual transactions vary and are still priced at the tiered pricing level based on number to transactions in your file. The fee schedule is as follows:

Over 25 transactions: $0.15
per 10-24 transactions: $0.35
per Under 10 transactions: $0.50
per. File Fee: $5 per.

What are the fees for the ACH Payroll Direct Deposit services?

The fees vary based on the total of transactions processed monthly. The more you utilize the service the more cost effective it is. The fee schedule is as follows:

Over 25 transactions: $0.15 per
10-24 transactions: $0.35 per
Under 10 transactions: $0.50 per.
File Fee: $5 per.

Who will set up the software for ACH Payroll?

There is no additional software to be installed by FCCU. ACH payroll is available via the online banking website, you may use software in conjunction with the website to process your payroll such as Quickbooks to create your data.

Will taxes be taken out of the payroll file?

No, currently our OLB/Payroll is a direct deposit of an ACH Origination to pay our member’s employees on a scheduled basis. The service does not currently offer the configuration of taxes.

Have additional questions?

Please contact us at help.treasury@fccu.org

Can other companies or third parties send payments to my business account via ACH?

Yes. You will need to provide membership-account number and the routing number for First Community Credit Union. It will post to your account as an “ACH Deposit"

Can business banking utilize bill pay service?

Yes, businesses are able to use the bill pay service to send large amount transactions. We can accommodate this through our commercial online banking system with ACH payroll and ACH payments (approval, setup, and fees will apply).