The Automated Clearing House (ACH) is an electronic payment network used by individuals, corporations, businesses, financial institutions, and government entities. Approximately 98% of the nation’s commercial financial institutions participate in the ACH Network.

Benefits:

• Reduces the costs of electronic fund transfers by allowing the transfer of credit or debit entries to savings accounts, demand deposit accounts, loan accounts, and other accounts.
• Eliminates costly wire transfers

Common Applications:

• Direct deposit of payroll
• Payment of federal tax payments utilizing the Electronic Federal Tax Payment System

Types of ACH Processing

• PPD Prearranged Payment/Deposit
• CCD Cash Concentration/Deposit
• CCD+ Cash Concentration/Deposit plus Addenda
• CTX Corporate Trade Exchange
• PPB Prearranged Book Transfer (intrabank)

How It Works:

• You initiate ACH transactions via our Business Online Banking application or other agreed upon format. Certain addenda may be included with the payment, such as invoice number and date.
• Republic Bank translates and formats your data in order to send to the receiving bank, which then translates and reports the payment and addenda information for your vendor.
• Republic Bank has four “windows” or transmission times: 6:00 AM, Noon, 4:00 PM, and 7:30 PM. (Eastern Time)
• Dual control transaction authorization is available

Requirements:

• Completion of an ACH Application which is underwritten by Republic Bank
• Completion of a signed ACH Agreement

For more information, please contact us at 1-866-534-2341.