ACH and EDI

Automated Clearing House (ACH)
With next-day settlement, ACH allows you to improve your institution's payment processing efficiency and accuracy, and reduce expenses.

We offer ACH services for public entities that want to collect funds and make payments electronically in batches through the national ACH network.

Typical applications include:

• direct deposit of payroll
• vendor payments
• bill and dues collection
• federal and state tax payments
• annuities, dividends, and utility payments

Sovereign offers several vehicles for originating ACH transactions, including Direct Transmissions via FTP, and IRIS, our state-of-the-art Web-based treasury management system.

Electronic Data Interchange (EDI)
EDI provides you with timely reporting of ACH remittance information. The ACH transaction is posted to your account, and the remittance information included with the ACH file is translated onto an EDI advice. EDI advices are available via fax, email, or IRIS. You may also receive the raw data in 820 transaction format.

With ACH and EDI, you can:

• reduce banking costs and increase reliability
• improve availability of funds by eliminating delays caused by invoicing, mailing, and check processing
• improve productivity because data is entered in an electronic format, which can then be transferred without manual intervention