| ACH Preauthorized Draft |
| How it Works |
- You submit a data transmission file containing customer account information to BB&T
- BB&T processes drafts through the ACH
- ACH draws payment from your customers' checking accounts
- The total amount is credited to your account on the next day
- Rejected or NSF items must be re-submitted by you in a new ACH file
- Submit a preauthorized request up to 29 days in advance of the due date
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| Nationwide Acceptability |
- Preauthorized drafts are processed through the ACH, a central facility that handles the transfer of monetary transactions between member banks and the Federal Reserve
- The ACH system is the nationwide payment network used to deliver Social Security direct deposits to more than 20 million recipients every month
- Many companies use ACH to provide direct deposit of payroll for their employees or to draft customers' accounts for payments
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| Simplifies Collection |
- Provides a paperless means of collecting receivables and processing customer payments
- Offers a timely method to collect receivables and predict cash flow
- Provides an accurate and thorough record of all ACH transactions
- Provides your customers with the convenience of not having to write checks and mail payments
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| Submittal Options |
Data file submission can be done either using BB&T's MAXX-ACH PC software or through a mainframe transmission |
| Convenience |
ACH Preauthorized draft is suitable for many types of payments, including:
- Homeowner Association dues
- Insurance premiums
- Mortgage payments
- Medical payments
- Day care payments
- Pest Control services
- Security Monitoring services
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