Disbursement Services

what are your business goals?

  • To save time and wire money online from the convenience of your computer?
  • To streamline and consolidate your accounts payable process — from origination to reporting?
  • To improve your accounts payable process from payment origination to reconciliation?
  • To see how much time and money your business can save by outsourcing payroll?

Whatever your business goal, Zions Bank has a Disbursement Services solution to match your payables needs, including the options shown below.

ACH Cash Disbursements

Automated Clearing House (ACH) Origination[cite::53::cite] lets you distribute funds to your own accounts, your vendors’ accounts and your employees’ accounts.

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Features and Benefits

  • Helps reduce administrative costs, potential interest or late charges on payments
  • Reduces check stop-payment charges and reissue costs
  • Lets you manage your accounts by scheduling ACH transfers and cash disbursements for various types of payments, including vendor payments, federal and state tax payments and employee payments, such as direct deposit payroll, expense reimbursements and pension payments
  • Lets you monitor daily ACH activity online through the Anytime Gateway® service
  • Same-Day ACH: Same-day settlement capability giving businesses an option to send and receive payments faster. See Same-Day ACH information below for more information.

Need Help Finding Other ACH Solutions for Your Business?

Do you have questions about ACH Cash Disbursements or other ACH services? Zions Bank is here to help. To speak to an Advisor to enroll in a new service, call 866-299-3334 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-726-7503.

View the ACH Cash Disbursement product sheet for more information, or to learn more about collecting ACH payments, visit the Collections page.

Same-Day ACH

Originating and Receiving Payments Electronically

It’s an exciting time in the payments industry with several innovative initiatives underway designed to move payments faster. One of these initiatives is NACHA’s “Same-Day ACH Rule” which builds upon existing ACH Network next-day settlement capabilities and establishes a new same-day settlement capability giving businesses an option to send and receive payments faster.

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Phased Implementation Approach

Implementation of the “Same-Day ACH Rule” is spread out over three phases that began in September 2016. This phased approach provides an 18-month period over which businesses and financial institutions can manage their implementation efforts. This allows the industry to gradually acclimate to a faster processing environment.

  1. The first phase was implemented on September 23, 2016, and provided for same-day settlement of domestic ACH credit entries of $25,000 or less with funds being available by end of the Receiving Depository Financial Institution’s (RDFI’s) processing day.
  2. The second phase of implementation occurred on September 15, 2017, and enables same-day settlement of domestic ACH debit entries of $25,000 or less. Same-day credit funds availability will remain at the end of the RDFI’s processing day.
  3. Finally, in the third phase, effective March 16, 2018, RDFI’s will be required to provide funds availability for same-day credits no later than 5:00 p.m. in the RDFI’s local time.

Federal Government

The federal government didn’t participate in phase one of the same-day ACH credit implementation. Therefore, any entry originated from, or received by, the federal government today, isn’t eligible for same-day settlement and is being settled on a future date. For example, federal tax payments don’t currently qualify for same-day ACH settlement.

Important Update: The federal government has operationally committed to participating in same-day ACH as of September 15, 2017, beginning with the capability to receive tax and nontax same-day ACH credits.

ACH Originators

If you originate ACH transactions, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

  • Beginning September 15, 2017, domestic ACH debit entries of $25,000 or less, originated by you that meet the following criteria will be processed and settled as same-day ACH transactions:
  • Dated with the current day’s date in the Effective Entry Date field. Please note, stale or invalid dates in the Effective Entry Date field will be processed in the next available window, which could be same day or next day;

                and,

  • Received for processing by 11:30 a.m. MT for Direct Send clients and by 11:00 a.m. MT for Anytime Gateway® clients.
  • To avoid same-day processing, submit your file after the cutoff time referenced above or use an Effective Entry Date in the future.
  • Domestic transactions greater than $25,000 and international transactions don’t qualify for same-day processing.
  • Same-day ACH transactions are assessed an additional per item fee of $1.00. The Same-Day Transaction Fee only applies to transactions going to banks other than ZB, N.A and its divisions.
  • We recommend reviewing and updating the ACH Debit Authorization Form signed by your customers, if necessary, so that it addresses the possibility of same-day settlement.

ACH Receivers

If you receive ACH debit transactions in your account, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

  • Beginning September 15, 2017, domestic ACH debits (up to $25,000) may post the same day as submitted.
  • As a best practice, companies receiving ACH debits should account for anticipated transactions to ensure sufficient funding.

Important Product Changes to Accommodate Same-Day ACH

Financial Electronic Data Interchange (FEDI)

If you use our FEDI service, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

Clients Receiving FEDI Translated Reports Via Anytime Gateway® Or Facsimile

  • Effective August 7, 2017, dependent on your received activity, you could begin receiving a second report each day.
  • You’ll continue to receive the morning report at 7:00 a.m. MT which includes items received up until 2:00 a.m. MT with a settlement date of current day.
  • Beginning August 7, 2017, you may receive a second report at 3:00 p.m. MT which will include any items received from 2:01 a.m. MT to 2:45 p.m. MT with a settlement date of current day. Please note, the second report will only be sent if you have items.
  • There is no additional fee to receive the second report within Anytime Gateway.
  • The standard per-page fee will apply for the second report received via facsimile.

Clients Receiving FEDI NACHA Files Via Direct Send (SFTP)

  • Effective August 7, 2017, dependent on your received activity, you could begin receiving a second file each day.
  • You’ll continue to receive the morning file at 7:00 a.m. MT which includes items received up until 2:00 a.m. MT with a settlement date of current day.
  • Beginning August 7, 2017, you may receive a second file at 3:00 p.m. MT which will include any items received from 2:01 a.m. MT to 2:45 p.m. MT with a settlement date of current day. Please note, the second file will only be sent if you have same-day items.
  • Important information for your IT Department: The afternoon file will contain a date/time stamp in the file name so that the second file doesn’t overwrite your first file.
  • The standard per-file fee will apply for the second file. Please contact our Treasury Management department at 800-726-7503 if you wish to receive only one file per day.

ACH Positive Pay

If you use our ACH Positive Pay service, here are facts you need to know to prepare for upcoming changes to accommodate same-day ACH:

Effective September 15, 2017, we’ll begin loading ACH Positive Pay exceptions twice a day.

  • We’ll continue to load exceptions at 5:00 a.m. MT which includes exceptions from ACH items received up until 2:00 a.m. MT with a settlement date of current day.
  • Beginning September 15, 2017, we’ll also load exceptions at 3:00 p.m. MT which will include exceptions from ACH items received from 2:01 a.m. MT to 2:45 p.m. MT with a settlement date of current day.

If you’ve enabled Email Notifications, you’ll receive notifications at the following intervals to help manage your exception items:

  • At start of decision window 5:00 a.m. MT
  • When same-day ACH exceptions have been loaded
  • 30 minutes before decision window ends
  • So that you have sufficient time to decision your exceptions, the decision window is being extended to 5:00 p.m. MT. If you don’t provide a decision by the cutoff time, your default decision (Pay or Return) that you established at implementation will apply.
  • We recommend decisioning your exception items twice a day, once in the morning after the first exception load and then again after the afternoon exception load. Most of your exceptions will continue to be in the morning load.
  • There is no additional ACH Positive Pay fee for the second exception load or the extended decision window. The standard per-item exception fee and the standard per-item exception return fee will apply.

We're Here To Help

We’ll continue to share more information as September approaches to help you prepare for the next phase of same-day ACH. Please contact our Business Payments and Technology department at 866-299-3334 if you have any questions.

Integrated Payables

A fully integrated invoice-to-pay solution that automates your accounts payable and payment process.
 

Features and Benefits

  • Issue Commercial Card, ACH[cite::6027::cite] and check payments from a single location.
  • Experience the benefits of increased AP efficiency, reduced processing costs and improved internal accounting controls.
  • An active synchronization with your accounting software allows you to save time by reducing manual payment entry and posting. Spend less time on your daily payables and more time growing your business.
  • Create cost efficiencies by choosing when and how to pay your vendors so that you maximize benefits back to your business. Gain extra cash by taking advantage of early pay discounts. And even earn greater rebates by increasing payments made with Commercial Card.
  • A streamlined, predictable AP process with a single actionable view of payments reduces the opportunity for error.
  • Reduce risk of internal and online fraud through advanced security features. Integrates with Positive Pay.
  • Integrated Payables supports most popular accounting systems and has an active synchronization with QuickBooks® (Desktop and Online), Intacct®, Microsoft® Dynamics GP, NetSuite®, and Sage50Bank®.

Learn More

Want more information about Integrated Payables or to discuss other Business Payment and Technology options for your business? To speak to an Advisor to enroll in a new service, call 866-299-3334 or complete the form. For help with an existing service, contact our Customer Support at 800-726-7503.

For additional details, view the Integrated Payables Product Demo or the Integrated Payables Product Sheet.

Commercial Credit Card

An all-in-one purchasing, travel and expense card program designed to consolidate and streamline your payables processes.

Features and Benefits

  • Provides online convenience to issue, close and change cardholder access through the Card Management program
  • Includes controls to authorize purchase types and define credit limits for each cardholder[cite::540::cite]
  • Enables revenue sharing increases with more spending
  • Lets you manage expense reports online and transmit receipts through a mobile picture upload
  • Lets you create an expense program for traveling employees
 
  • Includes fleet expense payment, including at service stations nationwide
  • Has extensive reporting to pinpoint buying trends and preferred suppliers[cite::540::cite]
  • Lets you integrate card transaction data into your accounting system
  • Offers all Commercial Card payments billed through a single source
  • Backed by a dedicated account management team to help you maximize your program’s potential

Learn More

For more information about the Zions Bank Commercial card or to speak to an Advisor to enroll in a new service, call 866-299-3334 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-726-7503.

For additional details, view the Commercial Card Product Sheet.

online wire transfer services

These benefits and features apply to both domestic and international wire transfer services.

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  • The Anytime Gateway® online business banking module provides a direct internet link to the Zions Bank® Wire Department, giving your company the flexibility to send wires from anywhere with access to an online connection
  • Includes expanded security controls, including personal identification numbers and maximum dollar limits on an account and/or individual basis
  • Establish convenient prearranged wire instructions for repetitive transfers
  • Schedule future-dated online wire transfers. Funds aren’t removed from the account until the wire settlement date (can’t exceed 90 days)
  • Initiate drawdown requests to transfer funds from your or another party’s account at a different bank. With proper authorization on file at the receiving bank, funds are transferred to your account through incoming wire transfer
  • Transfer funds to banks in from numerous foreign countries

Learn More

For more details on Zions Bank’s online wire transfer services, view the Online Wire Transfer product sheet. To speak to an Advisor to enroll in a new service, call 866-299-3334 or complete the form at the bottom of the page. For help with an existing service, contact our Customer Support at 800-726-7503.

Agreement applies. Fees may apply. See a financial representative for details.

 

Outsourced Disbursement

An automated solution to consolidate your company’s payables using ACH payments. Process your check, ACH and credit card payments from a single file upload.

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  • Outsourced check printing allows for a more efficient distribution of checks
  • A secure web site allows for easy management of printing jobs
  • Better security through Positive Pay and controlled check stock
  • Reduced processing and reconciliation time
  • Customized solutions to meet your specific payable needs

Contract may apply.

payroll card

Payroll card offers an electronic payroll for employees without traditional banking services or who simply want more options.

The Skylight ONE Card is a Visa® branded payroll card that provides access to funds at millions of ATM and retail locations — even online and over the phone.

  • FDIC-insured
  • More protection from fraudulent activity
  • Seamless integration with employers’ current payroll systems
  • Portable when changing jobs
  • Instant issuance
  • Worldwide acceptance
  • Convenience checks to draw on funds
  • Real-time funding
  • 24/7 account information access

Agreement applies. Fees may apply. See a financial representative for details.

Corporate Foreign Exchange

Discover multiple ways to make payments worldwide.

  • Access reliable payment options when sending money to more than 60 countries
  • Access an option for initiating foreign wire transfers that meets your company’s international payment needs — whether through your local branch, Treasury Gateway or the ZIONSFX® payment platform
  • Receive competitive prices with real-time streaming exchange rates from multiple liquidity providers
  • Initiate payments anytime from Monday at 8:00 a.m. to Friday at 5:00 p.m. ET with the ZIONSFX payment platform
  • Access foreign currency accounts, hedging strategies and forward contracts to lock in preferential exchange rates and help protect your profit margin
  • Use foreign drafts when you need a convenient, cost-effective way to make small payments in foreign currencies

Learn More

For more information on corporate foreign exchange, view the product sheet. To speak to an Advisor to enroll in a new service, call 866-299-3334 or complete the form below. For help with an existing service, contact our Customer Support at 800-726-7503.

Agreement and restrictions apply. Fees may apply. See a financial representative for details.

Controlled Disbursement

Disbursements eliminate idle balances in your accounts and use your funds more efficiently.

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By making collections with Controlled Disbursements, early each morning, checks presented to post that night are intercepted at a Federal Reserve location, and totals are reported to the web-based balance reporting service.

  • Eliminates the need to forecast when checks will clear your account
  • Eliminates idle balances to let you maximize interest income on deposits or minimize interest expense on loans
  • Works with Positive Pay to improve control and security of your account
  • Offers optional account reconciliation
  • Includes image services to enhance and ease research

Discover the Right Solutions for Your Business

Let us help you uncover solutions that work best for your business. Call 866-299-3334 or complete this form to have a representative contact you.

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