Deposit (ACH) Cash Concentration is ideal for companies with multiple locations that use a local depository bank, but need to quickly concentrate receivables into one cash pool. ACH transactions are created to pull deposits from local banks into First Horizon Bank.
Additionally, the Pre-Authorized ACH Debits service enables you to directly debit your customers on a routine basis when they enroll with your company to approve such a payment method.
NACHA and the Federal Reserve have approved rules that allow the processing of Same Day ACH transactions. The rules have been implemented and enhanced in separate phases over the past five years. This phased approach allowed the industry to acclimate toward a faster payment process and provided financial institutions ample time to make system changes to meet the processing and funds availability requirements.
While all financial institutions will be required to receive same day ACH transactions, First Horizon Bank will also offer same day origination allowing your business to make payments faster. What this means to you:
Improving security is all about adding additional layers of protection. Make your data more secure by leveraging the Tokenization solution from First Horizon and stay in compliance with the NACHA mandate.Learn More
ACH Positive Pay