Take advantage of online ACH payments, federal tax payments, and wire transfers.
Electronic payments and transfers are fast, low-cost methods of moving funds from one person or company to another person or company. Through Online Banking Business Edition, your business can take advantage of online ACH payments, federal tax payments, and wire transfers.
Some processes involve the use of federally-governed tools which are used by the Federal Reserve Bank and other financial institutions nation-wide. These include the Automated Clearing House (ACH), the Electronic Federal Tax Payment System (EFTPS), National Automated Clearing House Association (NACHA), and FedWire®. NACHA requires that you obtain and maintain an annual copy of the NACHA Operating Rules.
A note about transaction timing
The federally-regulated EFTPS, ACH and FedWire systems only operate on banking business days. So even though Online Banking Business Edition allows you to create and save tax payments, ACH batches and wires on weekends and holidays, they will not be transmitted until the next banking business day. Therefore, all submission and receipt timings regarding such payments assume banking business days.
You can transfer funds to other accounts using Online Banking Business Edition. There is no maximum amount that you can transfer when the accounts are under the same name and Tax ID number or when you have set up consolidation.
You can transfer funds to another member's Global checking, savings, money market, or loan account using Online Banking Business Edition. Access the "Transfer Funds" tab in Online Banking Business Edition to enter the last name, account number, and account type of the recipient. The maximum aggregate dollar amount per transfer is $2,000.00 per day.
A Stop Payment Order is a request where a member instructs the credit union to refuse payment on an unpaid check or a pre-authorized debit which the member previously authorized.
A Stop Payment Order may be placed on any unpaid check electronic check (preauthorized draft), or preauthorized debit (ACH) prior to the payment posting. Once a payment has posted, it cannot be "stopped". Stop Payment Orders received before 10:30 p.m. Alaska Time will be effective immediately. Orders received after 10:30 p.m. may be effective the following calendar day. This Stop Payment Order will be in effect for two years. If this stop payment is for a temporary check (counter check) and you have received more than one set of temporary checks, all checks with the number you enter will be stopped.
If you placed a Stop Payment on a blank check(s) and later locate it, be sure to release the Stop Payment Order before you use it. The stop payment fee is waived on Stop Payment Orders placed through Ultra Branch Business Edition.
To stop preauthorized debits, please contact the Member Service Center at 800-525-9094 or 907-563-4567 or visit a branch office.
An ACH is like a batch of electronic checks paid at one time to different people, who may bank at different financial institutions.
An ACH payment is a method of sending funds electronically through the federal government’s Automated Clearing House (ACH). ACH payments are typically created and sent in batches. At the time of payment, funds are withdrawn from the business checking account, and transferred to the recipient, known as the participant.
An ACH batch must be scheduled before 12:30 p.m. Alaska Time at least one full business day before it can be received by a payee.
Creating an ACH requires information about the participant, including specific details about their financial institution and account number. Because you could have hundreds of participants that may receive regular ACH payments, UltraBranch Business Banking Edition (UBBE) helps simplify the process. Whenever an ACH is created, the participant can be added to a list of participants for future use. You can also import participant information from your own files. Finally, you can create ACH templates that allow you to quickly create new batches based on previously-defined criteria.
The process for sending an ACH batch includes:
User can be authorized to create, change, hold, delete, and approve ACH batches.
The ability to electronically send funds to other people or companies is convenient. At the same time it is subject to risk, even from within your own organization. To help protect your company, UBBE employs a number of safeguards.
The “ACH Batch Summary” page gives you an overview of pending and completed batches.
Search for ACH batches within a certain date range by changing the selection criteria in the “View Options” box at the top of the page. The date range default is set at one month prior through one month after today’s date. Modify the range by entering a correctly formatted date or by selecting the desired dates from the small calendar icon to the right of each date box. Click “View” to display the ACH batches that fall into the specified date range. There are three categories of ACH batches that will be listed.
Pending ACH batch summary: This page lists batches that are scheduled, approved, and waiting on the effective date to process. Batches in this category can be edited or deleted.
Summary of ACH batches submitted for approval: This page lists batches that exceed a User's transaction limit and are waiting for approval by a User that has been granted approval authority. Batches in this category can be edited or deleted. Click on the “Approvals” link at the top of the page to see all scheduled payments waiting for approval.
Completed ACH batch summary: Completed ACH batches can be viewed, but cannot be edited or deleted.
From the “ACH Summary” page, click on the Edit icon to change an existing batch. You may change any field in the batch header except the “Batch Type.”
If you need to change participant information, click on the Edit icon next to the participant’s name. To delete a participant, click on the Delete icon and that entry will be immediately removed.
When the changes are final, click “Submit for Payment” to review the confirmation page.
Click the Delete icon near the batch you wish to delete. You will have the opportunity to review the ACH batch header and entry information. If you are confident you no longer want to send this batch, click “Delete Batch.” To return to the previous screen without making any changes or taking any action, click “Cancel.”
It may be possible to reverse a single ACH entry from a completed ACH batch if the reversal is processed within five business days of the initial ACH batch. To reverse an ACH, click on the View icon for the desired batch listed in the Completed ACH Batch Summary. Click the "Reverse" button for the desired entry as displayed on the "ACH Batch Detail" page. If the ACH completed more than 5 business days ago, you will not be able to reverse the transaction.
Note: Reversals do not always work, usually because the payee does not have sufficient funds in the account to which your payment was sent. It may be necessary to contact the payee directly to resolve the issue. Global is not responsible if a reversal is not successful.
You can add participant information manually, load it from a “Managed Participants” list, or import participant data from your computer.
You may add participants to a batch by clicking the “Add Entry” button. Then you have two choices:
How do you add someone to the “Managed Participants” list? Review Managing ACH Participants and Adding a New ACH Participant.
Only NACHA formatted PPD and CTX files can be imported.
Click “Import Entries” and then “Import ACH Batch Entries…”
You can then enter a file path or browse to find the file that you want to import into Online Banking Business Edition. Click “Upload” and the entries will display in the “ACH Batch Entries” list.
An ACH participant is the recipient of the ACH payment. “ACH entry” also refers to an individual participant.
The “ACH Participants” page lists all saved participants. Each can be changed or deleted with the Edit and Delete icons. Add a new participant with the “Add Participant” button at the bottom of the page. To return to the previous screen without making any changes or taking any action, click “Cancel.”
From the “ACH Participants” page, click on the Edit icon for the entry you wish to edit. Make desired changes and then click “Save Participant.” Review your changes and click “Save Participant” again to confirm. To return to the previous screen without making any changes or taking any action, click “Cancel.”
Review required fields and tips for ACH batch participants.
From the "ACH Participants" page, click on the Delete icon for the participant you wish to remove. You will be presented with a confirmation screen to ensure that you selected the correct entry. Deleting a participant that was created with a scope of "Business" will also make them unavailable to other Users that can create ACH batches.
To add a new participant, you must enter the following:
Participant Name – Participant name used for bank withdrawals or check cashing.
Identification # – This is a required field, but can be any identifier you choose (employee ID, for example).
Participant Scope – This field is only present for participants that are part of the managed participant list. Selecting User Scope makes this participant available only to the current User, while Business Scope makes the participant available to all Users that can create an ACH.
Bank Name – The financial institution where the participant will receive the payment.
Routing #– The most critical piece of information is the routing number, which is the 9-digit number used by the Federal Reserve to transmit funds from your Global business checking account into the participant’s financial institution.
Bank Lookup – helps locate the correct routing number. To look up a financial institution, enter the name and state. Click “Search” and the lookup will return with a list of financial institution branches and associated routing numbers that meet the selection criteria you submitted. Review the list, select the correct branch, and click the “Auto-Fill” button.
Tips:
Account Number – The account where the participant would like the payment deposited.
Account Type – Refers to the participant’s account – checking or savings.
Complete the required fields and click “Save Participant” to review your information. Choose “Save Participant” again to add this person to your list of Managed Participants.
Complete the required fields and click “Save Participant” to review your information. Choose “Save Participant” again to add this person to your list of Managed Participants.
Templates are a valuable tool that can save a lot of time. Using templates saves you from having to re-enter batch participants and look up bank routing numbers.
There are two ways to create ACH batch templates:
From the “ACH Templates” page you can edit, delete, or add new templates.
Editing an ACH batch template
From the “ACH Templates” page, click the Edit icon to make changes. When you are finished editing, click “Save Template” to store the changes and return to the “ACH Templates” page list. To return to the previous screen without making any changes or taking any action, click “Cancel.”
You can re-use any earlier ACH batch that has been saved as a template. From the “ACH Summary” page, choose the template you need from the “Choose Template” drop-down box and click “Load” to activate it. Be sure to review and edit all batch information, including name, effective date and participants. Note: The Effective Date displays the earliest date the new ACH batch can be sent.
Begin by clicking on the Payments and Transfers tab, then the “ACH” navigational link below it.
Change the Template Scope to “Business” if you would like to give other authorized users access to this payroll template in the future.
Since most payroll amounts vary from payday to payday, leave the Frequency as “None selected.”
If you currently use financial management software to produce and manage your payroll, you can import your payroll information all at once to save time. Just click on “New ACH,” fill out the batch header, and click the “Import Entries” button to load your NACHA formatted file.
A Wire Transfer, or wire, is a powerful and convenient way to send funds electronically from one person or company to another, anywhere in the U.S. At the time of payment, funds are withdrawn from the payer's account, and transferred to the recipient, known as the beneficiary. These transactions are managed over FedWire®, a special network created to allow financial institutions to conduct this kind of transaction.
Creating a wire requires information about the beneficiary, including specific details about their financial institution and account number. Online Banking Business Edition (UBBE) has two methods to simplify the process. Whenever a wire is created, the beneficiary is added to a list of beneficiaries for future use. This list can be managed, and new beneficiaries added at will. In addition, UBBE supports Wire Templates, which allow you to quickly create a new wire based on previously defined criteria.
The process for sending a wire transfer includes:
The ability to electronically send funds to other people or companies is convenient. At the same time it is subject to risk, even from within your own organization. To help protect your company, UBBE employs a number of safeguards.
The “Wire Transfer Summary” page gives you an overview of pending, created and completed wire transfers.
You have a number of controls for viewing useful information about these wires:
When viewing a wire, you may not change any fields.
Click “Done” at the bottom of the page to return to the “Wire Transfers” summary page.
Additionally, understanding the three wire categories on the “Wire Transfers” summary page helps you quickly manage the process of wire review, approval and release.
This list shows wire transfers that are scheduled and approved. Wire transfers in this category can be viewed, edited, and deleted.
Status descriptions:
This list shows wire transfers that have been submitted but do not yet have approval. Check the status to see if a wire has been reviewed and put on hold or rejected.
Status descriptions:
Wire transfers in this category can be viewed, edited, and deleted.
Click on the “Approvals” link at the top of the page to see all scheduled payments waiting for approval.
Completed wire transfers can be viewed, but cannot be edited or deleted.
Status descriptions:
When you select “New Wire” at the top of the page, you are asked to provide information about the beneficiary – the person that will receive the wire. You can enter this information in three ways:
A wire can be sent the same banking business day it is created if the wire is submitted and released (with funds available in your business checking account) before 12:30 p.m.
Ex: If you create and release a wire before 12:30 p.m. Monday, the funds will be sent on Monday. If you create and release a wire after 12:30 p.m. Monday, the funds will be sent the following business day.
Completing Beneficiary Information
Beneficiary Name – The name of the beneficiary as it appears on the identification used to withdraw funds from a financial institution.
Address 1 – The physical address of the beneficiary. PO Boxes or any mail drop locations are not permitted.
Beneficiary Scope – Select “User” or “Business.” When “User” is selected, only the user, the Primary Contact or a Company Administrator can view the wire.
Account Number – The account number where the beneficiary would like funds deposited.
Account Type – Type of account where the beneficiary will receive funds (checking, savings, etc).
Other required fields include “City” and “Zip/Postal Code.”
Beneficiary Bank Name – The financial institution where the beneficiary will receive the wired funds.
Financial Institution Routing Number – The most critical piece of information is the routing number, which is the 9-digit number used by the Federal Reserve to transmit funds from your Global account into the participant’s financial institution.
Bank Lookup – helps locate the correct routing number. Enter the routing number to verify that you have a valid number.
Tips:
Debit Account – The business checking account to be debited.
Amount – Dollar amount of the wire transfer.
Requested Date – The date you would like the wire sent. Requested date can be today’s date, if the wire is created, approved (if necessary), and released before 12:30 p.m. Alaska Time. Wires released after 12:30 p.m. Alaska Time must be dated the next banking business day.
Repeating – The default “None” means that this is a one-time payment. Set up a repeating transfer by selecting an appropriate interval from the drop-down box. Then select either “Unlimited” or enter the preferred number of payments in the “# of payments” box. This option cannot be edited at a future date.
Note: If you select this feature, be sure that the recurring period will be on a business day and will not fall on a holiday or weekend. Recurring wires that fall on a holiday or weekend will not be completed.
Once all the required information has been entered, click “Submit Wire” at the bottom of the page to confirm the wire.
The “Confirm Wire Transfer” page gives you an opportunity to review wire transfer information before submitting it. Review this page to make sure addresses, account numbers, and financial institution information is correct.
It’s also important to review the processing date. The FedWire® system only processes funds on federal work days; weekends and federal holidays are excluded by the system. If you enter a requested processing date that is not a federal work day, the system will automatically display the next available federal workday on the confirmation page in the “Expected Processing Date” field.
If all the information is correct, click “Confirm/Submit Wire” to complete your request; it will now appear on the “Wire Transfers” summary page. Click “Revise” to edit the wire transfer, or “Cancel” to return to the previous screen without making any changes or taking any action.
You can make changes to any wire that is not already complete or pending with a status of “Pending Approval.” To make changes, click on the wire’s Edit icon on the “Wire Transfers” summary page.
You will see the “Edit Domestic Wire Transfers” page, where you can make certain edits:
Information you may not change:
Once changes are made, click “Submit Wire” at the bottom of the page. A confirmation page will display showing the content of the edited wire. Click “Confirm/Submit Wire” to save changes and return to the “Wire Transfers” summary page.
From the “Wire Transfers” summary page, click the Delete icon for the wire you wish to delete. This will open the “Delete Wire Transfer” page, where you can review the wire information. If you are confident you no longer want to send this wire, click on “Delete Wire Transfer.” To return to the previous screen without making any changes or taking any action, click “Cancel.”
You can see a list of beneficiaries in two ways:
You can add a new beneficiary in two ways:
Online Banking for Business allows you to save and reload beneficiary information, which saves a lot of time. In addition, you can create templates that will allow you to load the beneficiary information and put a limit on the dollar amount allowed for a new wire.
Click on the “Templates” button at the top of the page to create a new template.
Click “New Template,” and then fill in the required information, including template, beneficiary and debit information.
Template Name – Create a unique template name, with up to thirty-two characters.
Template Nickname – While not a required field, it may be helpful to nickname your template, as most references will be to the template nickname.
Template Category – The template category determines how much information you can change in that template in the future.
Template Scope – Select either “User (My Use)” or “Business (General Use).” If “User” is selected, only the person that created the template, the primary contact or a company administrator can view it.
Template Limit – The dollar amount limit for any new wire based on this template.
Enter all necessary information, click “Save Template” and then review the confirmation page. Choose “Confirm/Save Template” to finish.
From the “Wire Transfer Templates” page you can view, edit or delete existing wire transfer templates. Templates are grouped into two categories: User and Business. The list shows the template name, nickname, account that will be debited, status, and the dollar amount limit.
Click “New Template” to create a new template.
Click the Edit icon to make changes to any wire transfer template on the “Wire Transfer Templates” page. When you are finished editing, click “Save Template” to store the template and return to the “Wire Transfer Templates” page. To return to the previous screen without making any changes or taking any action, click “Cancel.”
Note that an existing wire that was based on a wire transfer template will not change automatically if you edit the template it was based on. Additionally, you may not edit the wire to include a dollar amount over the template limit, even if you edit the template to increase that dollar limit.
From the “New Wire” page, choose the template you need from the drop-down box at the top of the page near the “Load Template” button. Click “Load Template” to activate the template and pre-fill the new wire fields and drop-down boxes. Depending on the template type, you will be able to edit certain fields, such as debit amount and effective date. You cannot enter an amount that exceeds the template limit or change whether the wire is repeating or not. Click “Submit Wire” to continue to the confirmation page and then click “Confirm/Submit Wire.”
Because transferring electronic funds by wire is such a powerful tool, Online Banking Business Edition adds an extra measure of control. After a wire is created (and approved, if necessary), it appears on the “Pending Wire Transfer Summary” list with the status of “Created.” Regardless of the effective date, the system will not process the wire until it is “released” by an Authorized User. Authorized Users are required to answer a security question in order to complete release.
To release wires, select the “Release Wires” button at the top of the page. (If you don’t see this option, it’s because you do not have permission to release wires. Please see your Primary Contact or a Company Administrator).
The “Release Wires” page displays all created and approved wires for the selected time period.
Select a choice from the “Action” drop-down box to hold, release or reject each listed wire.
Select the desired action from the “Action” drop-down box. (Or use the “Release All” or “Reject All” buttons if appropriate). Then click “Submit” at the bottom of the page. A confirmation page will display. Click “Confirm/Release Wires” and you will return to the “Wire Transfers” summary page.
If you want to release a wire with an effective date after today’s date, go to the “Release Wires” page and enter the appropriate date under the “View Options” box. Wires with a pending wire frequency of “None” can be released before their effective dates. Wires with recurring frequencies can only be released on their scheduled effective dates.
A tax payment is a type of ACH payment.
You may pay your federal taxes online through Online Banking Business Edition. A variety of tax forms are available and you can save templates to make future tax payments even easier.
You can pay all your federal taxes online, and even set up weekly or monthly installments, but first you need to be enrolled with the IRS’s Electronic Federal Tax Payment System (EFTPS). If you are not already enrolled, you can do this online at the EFTP (www.eftps.gov) site anytime. It takes just a few minutes to enroll, but will take the IRS up to fifteen business days to process the enrollment and send you verification.
When you enroll, you should select “EFTPS – Through a Financial Institution” as your payment method. You’ll also need to provide:
Once you have received confirmation from the IRS/EFTPS that you are enrolled, you can make tax payments through Online Banking Business Edition in three easy steps.
To add new tax forms to the list of available Federal Tax Forms, click “New Tax Type” to open the "Add Tax Form" page.
Choose from the available list of federal forms. You can choose multiple forms at once by holding down the CTRL key and clicking on the different titles. Click “Add Tax Form” and you will be returned to the “Tax Forms” page where you will see all your selections listed.
Click “Done” to return to the “Tax Payments” summary page.
A tax payment must be scheduled and funded before 12:30 p.m. Alaska Time at least one full business day before it can be received by the IRS.
Ex: If a business submits a tax payment and has the funds available before 12:30 p.m. Alaska Time on Monday, the IRS will receive the funds on Tuesday. If the payment is submitted after 12:30 p.m. Alaska Time on Monday, the IRS will receive the funds on Wednesday.
The ability to make tax payments electronically is convenient. As with all forms of electronic payments, Online Banking Business Edition employs a number of safeguards to help you manage your finances.
Click the “Payments and Transfers” tab at the top of the page. Then click the “Tax” navigation link below it.
The “Tax Payment Summary” page gives you a quick overview of pending and completed tax payments.
Search for tax payments within a certain date range by changing the selection criteria in the “View Options” box at the top of the page. The date range default is set at one month prior through one month after today’s date. Modify the range by entering a correctly formatted date or by selecting the desired dates from the small calendar icon to the right of each date box. Click “View” to display the tax payments that fall into the specified date range. There are three categories of tax payments that will be listed.
Before you can begin making tax payments from within Online Banking Business Edition, you must select the types of tax payments you wish to make, which are organized by IRS tax form number.
From the “Tax Payments” summary page, select “Manage Tax Types” navigation button at the top of the page.
The Tax Forms page shows all the tax forms that have been made available to your business. This list is initially empty.
To add new tax forms to the list of available Federal Tax Forms, click “New Tax Type” to open the "Add Tax Form" page.
Choose from the available list of federal forms. You can choose multiple forms at once by holding down the CTRL key and clicking on the different titles. Click “Add Tax Form” and you will be returned to the “Tax Forms” page where you will see all your selections listed.
Click “Done” to return to the “Tax Payments” summary page.
When you are ready to make your tax payment, select the "Payments and Transfers" tab, then "Tax", and select "New Tax Payment."
You can make multiple tax payments at once as a single batch payment, and all payments must be part of a batch. From the "Add Tax Entry" page enter the following information:
Select "Add Entry" (middle right side of the screen) and this will take you to the "Add Tax Payment Entry" page.
At the Add Tax Payment Entry page, select the following fields:
Once you have completed the specifics of your tax payment entry, select "Add Entry" to return to the "Add Tax Payment" page showing the summary of this Tax Payment Batch.
If you wish to include additional tax payments in this batch, simply select the "Add Entry" button and repeat the steps above.
When you have finished entering all the tax payments you wish to pay, select "Submit for Payment".
Review the Tax Payment Verify screen for accuracy. If you are satisfied with the details of the payment, click "Send Tax Payment" to submit it. If you need to make changes, click "Revise." Click the "Cancel" button to return to the previous page without taking action, discarding the data you entered.
After scheduling the payment, you will be returned to the Tax payment summary page. Your scheduled payments will be listed, either in the "Pending Tax Payment Summary" category or the "Summary of Tax Payments Waiting for Approval."
To help you maintain control over your budget, all electronic payments are subject to company and user specific limits. It is very important to review electronic payments pending approval on a regular basis.
The "Features Access and Limits" page allows you to specify the features you want for your business. This page also allows you to set company limits for electronic transfer and payment options as described below. Make sure to click “Save” at the bottom of the screen to confirm your selections.
The Primary Contact or any Company Administrator can specify a dollar limit for wires, ACH payments, or tax payments. Transaction batch and daily limits can be set for each type of payment. These company-wide limits can be reset by the Primary Contact or Company Administrator at any time.
Use limits to maintain control over your budget, particularly when multiple Users are creating payments.
If a payment exceeds the preset limit, the User will receive a "limits error," and the payment will not be saved. The default limit is $0 for all categories, meaning that all payment requests will be considered over-the-limit and would be rejected. However, you can establish an approval process to review and approve/reject over-the-limit payments by using the "Exceed limit with approval" option.
Note: The Primary Contact and Company Administrators can view and change company-wide limits. Other Users cannot view limits. If other Users will be creating wires, ACH payments, or tax payments, it may be helpful to advise them of the limits.
Checking "Exceed limits with approval" allows over-the-limit payments to be created and held until they are approved by a User that has been granted authority. You must designate someone within your company to approve over-the-limit transactions. If you want to ensure that every payment goes through this approval process, keep the company-wide limit at $0 and enable "Exceed limit with approval" box for all Users.
Note: By default, the Exceed Limit with Approval feature is disabled (unchecked and grayed out) until you create another User. Multiple Users are required to enable transaction approvals.
You will be prompted to answer the following question: "Do you wish to make the new ACH company permissions immediately available to all eligible users?" Select "Yes" if you agree. By clicking "yes," All User limits will be set equal to the company limits. By default the Primary User's entitlements and user access are the same as the company limits.
When you set company-wide limits, you control the maximum dollar amount for wire and ACH transactions. However, these limits can be modified by any Company Administrator that has been given access to your account. If your company desires an additional safeguard, you may contact Global in writing and request that the credit union set a dollar limit of your choosing. That limit may not be exceeded or changed within UltraBranch Business Edition. To change or override this limit, the Primary Contact must request that change in writing.
Click on "Payments and Transfers" tab and then click on the "Approvals" link. This gives you a global view of all wires, ACHs and tax payments awaiting approval. An authorized User with approval authority may Approve, Hold or Reject individual payment requests.
You can also check the Status of individual transactions on the Wire Summary, ACH Summary and Tax Payment Summary pages. Transactions that need approval typically read "Approval Pending." Additionally, each summary page includes a Pending Approvals section. Click on individual transaction icons to view or edit, or click the "Approvals" navigation link at the top of your screen to approve, hold or reject the transaction.
Note: To view all wire payments pending approval or waiting release, be sure to select "Business Wires" in the View Options box. Otherwise you will see only wires that you have created.
Go to the "Manage Alerts" tool (under the "Home" tab and "Alerts"). Make sure you have elected to receive alerts for "Pending Approval." You may elect to be alerted within UltraBranch Business Edition Message Center, by personal email, or both. Please note that alerts are not immediate; they are sent out by approximately 6 a.m. the following day.
Another option: To bypass the approval process, the Primary Contact or a Company Administrator could revise the pre-set limits to accommodate the wire, ACH or tax payment.
If an electronic payment (a wire transfer, ACH batch, or tax payment) exceeds a User's pre-set limit, you can establish an approval process to review and approve/reject over-the-limit payments by using the "Exceed Limit with Approval" option.
For timely account management, it is very important to review electronic payments pending approval on a regular basis.
Select the “Approvals” navigation link at the top of the page to hold, release or reject an electronic payment that has been “Submitted for Approval.” The “Pending Approvals” page displays all wires, ACH and tax payments waiting for approval.
You can see the payment details for each item listed in the "Pending Approvals" page by clicking on the View icon associated with the desired item.
In addition to seeing all of the information entered when the payment was created, you can also see the transaction history, which shows what actions have been taken on this payment.
For each item pending approval you can change the "Approval Action". The actions are:
Hold – The payment will continue to be displayed in the “Submitted for Approval” category of the relevant summary page. Status will be listed as “Approval Hold.”
Approved – Approved ACH Batches and Tax Payments will be moved to the “Pending” section of their relevant summary pages with a status of “Scheduled.” Wire transfers will move to the “Pending” section of the "Wire Transfer Summary" page with a status of “Created/Needs Release.” Approved wires must still be released in order to be processed.
Rejected – You may reject an electronic payment and include a reason for the rejection. The payment will be listed in the “Submitted for Approval” category with a status of “Approval Rejected.” The payment is still editable and can be resubmitted for approval.
Select the desired action from the “Approval Action” drop-down box for each payment you wish to change, then click “Submit” at the bottom of the page. A confirmation page will display. Click “Confirm” and then click the “ACH”, "Tax" or "Wires" navigation link at the top of the page to return to the “ACH batch summary”, "Tax payment summary", or "Wire transfer summary" page.
For additional details please see the Online Banking Business Edition service agreement