ACH - Direct bank integration
Last updated
Last updated
To process ACH transactions, Your PayorCRM account can directly connect to your bank to trigger ACH payments. You may reach out to solutions@payorcrm.com to set this up.
During implementation, We may require the following information from your bank to set this up
Immediate Destination (record 1: 4-13):
Immediate Origin (record 1: 14-23):
Immediate Destination Name (record 1: 41-63):
Immediate Origin Name (record 1: 64-86):
Company Name (record 5: 05-20):
Company Identification (record 5: 21-40):
Company Entry Description (record 5: 41-50):
Originating Dfi (record 5: 80-87):
SFTP account details:
With the Direct Bank Integration option, All funds are settled on the next working day.
Introduction to Bank Point of Contact (Task Owner: You):
You will introduce us to your Bank Point of Contact or Account Manager (Bank POC) via email.
Configuration Inputs and SFTP Details (Task Owner: PayorCRM):
PayorCRM will request the necessary configuration inputs from your bank. These include the details mentioned above, as well as information about the bank’s SFTP (Secure File Transfer Protocol) configuration.
Test ACH File Generation (Task Owner: PayorCRM):
PayorCRM will create a test ACH (Automated Clearing House) file using dummy data. This file will be shared with the bank via the SFTP location set up in the previous step.
Bank Validation (Task Owner: Bank):
The bank will validate the test ACH file to ensure its accuracy and compliance with ACH standards.
Go-Live Approval (Task Owner: Bank):
Once the bank confirms the validity of the test file, they will give the go-ahead for the system to go live.
Account Setup for Live Transactions (Task Owner: PayorCRM):
PayorCRM will configure your account to start processing live ACH transactions.
Testing Live Transactions (Task Owner: You):
To verify the live transaction process, you will create a test transaction using a dummy customer and a $1 invoice.
