Payroll For Your Small Business

Take advantage of payroll services that are designed to cover a wide range of payments and transactions. This includes:

• Credit and debit transactions
• Recurring payments
• One-time transactions
• Government payments
• Vendor payments and similar transactions
• Electronic payroll processing via Cash Manager

The rates for the services you need depend largely on the types of transactions involved. However, we strive to make sure the rates are affordable, allowing you to handle payments quickly and securely at a minimal cost.

What is an ACH transfer?

ACH refers to the Automated Clearinghouse Network, which is a network of banks and other financial institutions working together to handle monetary transactions. When you use ACH transfer, the banks use their network to electronically transfer funds to the designated account.

How long does an ACH transfer take?

Once the transfer settles (which may take a day), you’ll typically have funds transferred within a few business days. However, it ultimately depends on the institutions involved and the type of transaction.

For payroll, you’ll typically use ACH credit transfer, which means you’re crediting funds to your employees from your own business account. The time this takes to process can be one or two business days. Debit transactions, on the other hand, must be processed the same day. Either way, once processed, the institution receiving funds may hold on to them for a period of time in case the transaction is canceled. As such, it can take several days for the transfer to be completed. 

How does ACH differ from a wire transfer?

Wire transfers are handled in real-time on a per-transfer basis. ACH, on the other hand, sends transfer requests in batches. For this reason, wire transfers tend to be same-day transactions, while ACH tends to take a few business days.

Wire transfers tend to cost much more than ACH. For small business payroll, ACH is usually more desirable since time isn’t a pressing concern.