ACH Services Application
Automated Clearing House (ACH) is an electronic payment delivery system that allows you to pay or collect funds electronically through the ACH network. We can help you take full advantage of the speed, accuracy and efficiency of electronic payments and collections available through ACH, improving control over the timing of payments posting to your bank accounts.
Commerce Bank offers business customers the ability to originate ACH credits and ACH debits through our online banking system.
Direct Deposit
Electronically credit an employee or payee’s accounts for payroll, expense reimbursements or other consumer type payments.
Consumer Debits
Customers can pay you electronically via one-time debits or recurring payments such as utility bills, insurance premiums, mortgage payments and membership dues.
Corporate Trade Payments
Make business-to-business payments, which can include detailed remittance information.
Cash Concentration
Electronically consolidate your funds from various locations.
Procedures
You can either upload or manually input an ACH file in our online banking system. Once the information is entered, the transactions must be approved and initiated with the effective date of the transactions selected. We highly recommend that a person other than the one entering the information approves the transactions for release.
You must contact Commerce Bank to let us know the amount, the number of items, and the effective date of the originated transactions. If we cannot contact you or one of your representatives, your ACH transactions may be rejected for processing by us.
Security
As ACH Origination is a higher risk commercial banking function, we require certain security procedures and highly recommend others, as well as suggest that your company perform your own internal risk assessment and controls evaluation periodically to be sure you are considering all available security options.
Please note that part of your required security procedures are to:
- Review your transaction activity in online banking daily;
- Use a security token to access online banking and any multi-factor authentication system required by the bank;
- Install and maintain up-to-date anti-malware protection on the computers used to access online banking;
- Install and maintain a commercially reasonable firewall solution which is up-to-date on security patches, security definitions and updates;
- Install and maintain an approved Operating System on the computer used to access online banking;
- Keep all Operating System vendor or third-party software on the system used for accessing online banking up-to-date on security patches and updates;
- Maintain appropriate physical security for the computer used to access online banking and any ACH documents.
We require the use of a username, password and token when accessing the system, as well as other security procedures.
Deadlines
The deadline for originations is 2pm Central. If you do not approve and initiate your transactions by 2pm Central, your transactions will not be sent to the Federal Reserve for processing that business day. If you are approving payroll to be paid the next day and you do not approve and initiate by 2pm, your employees will not be paid the next day.
More Information about ACH
More Information on ACH Security
Corporate Account Takeover Business Best Practices
Protecting Against Account Takeover
Have more questions? Call us at (662) 286-5577 and ask for Operations or email us at ach@commerce-bank.com.
What information do we need to get you started?
You will have to sign a contract with Commerce Bank. ACH origination is considered to be an extension of credit by the bank to you and is bound by certain terms and conditions. If you wish to apply for ACH Services, please fill the form out below. Processing of your application may take 7 – 10 business days.