ACH Preauthorized Draft

ACH Preauthorized Draft service process:

1. You submit a data transmission file containing customer account information to BB&T.

2. BB&T processes drafts through the ACH.

3. ACH draws payment from your customers' checking accounts.

4. The total amount is credited to your account on the next day.

5. Overdraft/returned items must be re-submitted by you in a new ACH file.

6. Submit a preauthorized request up to 29 days in advance of the due date.

7. Data file submission can be done through a mainframe transmission.

If you receive recurring payments from your customers, ACH Preauthorized Draft services from BB&T can streamline the process of collecting receivables and processing payments, saving you time and money and improving your cash flow.

• Preauthorized drafts are processed through the ACH, a central facility that handles the transfer of monetary transactions between member banks and the Federal Reserve System
• 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

• 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 - View Reports
• Provides your customers with the convenience of not having to write checks and mail payments

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