ACH Origination

Automated Clearing House (ACH) transactions are electronic debits and credits used to efficiently disburse employee payroll through direct deposit or electronically collect receipts through direct payment from any bank account in the United States. Upon approval, by your relationship officer, business customers can set up recurring ACH transactions allowing files to be sent every week or month with little or no effort on your part. The Bank of South Carolina ACH Origination is the most cost effective and timely way to move money.

Direct Deposit

Government payments, payroll or pension checks are examples of transactions credited directly to the bank and deposited to customer’s accounts per an established schedule. Take advantage of Direct Deposit service and enjoy the benefits of never having to deposit a paycheck again!

How It Works:

  • You obtain written authorization from employees to make electronic payments to their accounts.
  • You prepare and deliver payroll file to BKSC two days prior to settlement date.
  • ACH files are transmitted into the ACH network, with employee’s accounts credited and your company's account debited on settlement day.
  • All data submitted must be in conjunction with NACHA Rules and Regulations.

Direct Payment

Ideal for electronically collecting recurring receipts such as payments, memberships, dues, regular charitable contributions and periodic subscription fees. In either case, the transfer process is automated, convenient and predictable, giving you better control of your funds at less cost to your company.

How It Works:

  • You obtain written authorization from payers to draw regular electronic payments from their accounts.
  • You prepare and deliver collection data to Bank of South Carolina one or two days prior to settlement date.
  • ACH files are routed into the ACH network, with payers' accounts debited and your company's account credited on settlement day.
  • All data submitted must be in conjunction with NACHA Rules and Regulations.

Benefits to Your Company:

  • Lower Costs: You save money by eliminating much of the manual work associated with your payment and collection processes. This includes less check printing and processing, lower postal expenses and fewer losses due to stolen, forged or lost checks.
  • Improved Cash Flow: Quicker collection of payments means enhanced liquidity.
  • Simplified Forecasting: You know the exact date of your funds transfers, simplifying daily funding decisions.
  • Enhanced Benefits and Customer Service: ACH services benefit your employees/customers/vendors by eliminating manual work for them and lessening concern over timely payments.