Manage Payables

Streamline processes, expenses and transactions

ACH Payments

Deposit funds to employee and customer accounts safe and conveniently. 

  • Accommodate one-time and recurring deposits for several needs
  • Eliminate costs of generating checks, mail and postage
  • Allow customers to deposit funds into their accounts with immediate access to funds

 

Automated Payables

Take control over cash flow by automating your invoice and payment processing.

  • Capture invoice information automatically
  • Customize invoice and payment workflows
  • Route, approve and process payments faster

Cash Concentration

Centralize and monitor funds from multiple business locations.

  • Eliminate idle balances by depositing available funds
  • Eliminate check writing or wire transfers
  • Funds are available the next business day

Controlled Disbursement

Accurately forecast your daily cash requirements.

  • Get exact dollar amounts of checks that will post
  • Avoid possibility of overdrafts
  • Fund your account from several sources

Purchasing Card

Simplify business purchases, reduce paperwork and monitor expenses with the First Citizens Visa® Purchasing Card.

  • Set your spending controls
  • Reduce administrative costs
  • Analyze spending with online reporting tools

Wire Transfers

Move funds fast—domestically or internationally.

  • Same-day business funds available for domestic wires
  • Same-day business verification
  • Multiple initiation options

Zero Balance Accounts

Money that works for your business.

  • Eliminate manual transfers between accounts
  • Maintain separate accounts for internal auditing and accounting
  • Maintain balances in a single account for efficient utilization

Let us guide you to the right Payables solution

Business Digital Banking

Manage your business on the go

Manage your accounts from anywhere

Send and transfer money using ACH and wires

Receive account and security alerts

Business Digital Banking

Manage your business on the go

Manage your accounts from anywhere

Business Digital Banking

Manage your business on the go

Send and transfer money using ACH and wires

Business Digital Banking

Manage your business on the go

Receive account and security alerts

Purchasing Card

Control business expenses

Simplify business purchases, reduce paperwork and monitor expenses with the First Citizens Visa Purchasing Card.
Business Rewards Visa

Earn more from your business

Make business purchases count with bonus points.
FAQ

People often ask us

As part of your ACH Agreement with First Citizens, you're required to stay abreast of industry changes. We recommend you become a member of your local ACH Regional Association (E Pay Resources on the east coast) or reference Nacha.org for ACH rules changes. Often, when changes occur that significantly affect your ability to originate your ACH file (payroll, taxes etc.), a notice will be posted on BOB Advantage.

You must receive authorization from your employees or customers to obtain the information needed to deposit funds into their checking and savings accounts for payroll, employee expense reimbursement, government benefits, taxes, other refunds, annuities and interest payments. Please reference the National ACH website (Section VII Appendices) for Sample Authorization for Direct Deposit through ACH (Credits) for more information.

The ACH Return Resolution report information is available and accessible through the Business Online Banking Advantage® (BOB Advantage®) by choosing the "Reporting" section. The Return Resolution report is a critical part of being able to process our Direct Deposits. On a daily basis, these reports will detail any transaction that was returned to you and you have not received your credit. It will also show any account information that has changed or is no longer valid. To access the report, select either the Standard or Custom ACH Report option located under Bank Reporting on the Account Management Reports page. Your Return Resolution and Notification of Change Reports are accessible for 14 calendar days.

Yes. A Pre-note transaction may be submitted as a test. A Pre-note is a zero dollar transaction with unique transaction codes. Its intention is to verify both the transit routing and account number of a transaction. If either is incorrect, you'll be notified by a Return Resolution Report. It's recommended that you initiate a Pre-note transaction 3 days in advance of a live dollar transaction for first-time accounts.

Yes. To ensure items post in a timely manner to reach the receivers account for posting, we should receive:

  • ACH Credit files (for Direct Deposit) at least 2 business days in advance of the effective (deposit or payroll) date
  • ACH Debit files (for Automatic Drafting) at least 1 business day in advance of the effective (due) date

All ACH transactions submitted prior to 10 pm ET will be processed at First Citizens the same day for the delivery to your customer’s bank. Transactions submitted after 10 pm ET will be processed at First Citizens for delivery to your customer’s bank the next business day.

  • If you send your Direct Deposit transaction the same day the payment is due (effective), your employees will not have access to their funds on time.
  • If you send your Automatic Draft transaction the same day the payment is due (effective), you'll not receive your deposit until the next day (settlement day).
  • Same day ACH transaction processing is available for same-day settlement.

Normal bank approval applies.  

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Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.