ACH - Integration with your bank

To process ACH transactions, Your PayorCRM account can directly connect to your bank to trigger ACH payments. You may reach out to [email protected] to set this up.

Advantages of this option

Lower Fees

You will pay around $0.50 to $1 per transaction (varies by bank)

Faster Funds settlement

With the Direct Bank Integration option, Funds are always settled the next working day.

Not suitable for accounts with lower ACH payment volumes

Process flow

Illustration of Direct Bank Integration flow

Usual implementation steps

1. 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.

2. 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.

3. 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.

4. Bank Validation (Task Owner: Bank):

   • The bank will validate the test ACH file to ensure its accuracy and compliance with ACH standards.

5. 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.

6. Account Setup for Live Transactions (Task Owner: PayorCRM):

   • PayorCRM will configure your account to start processing live ACH transactions.

7. 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.

To view the contents of the ACH file generated by the system in a human readable form use the link - https://www.payorcrm.com/nacha-file-parser/

During implementation, We may require the following information from your bank to set this up. This would of course be handled by PayorCRM team

• 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:

• SEC code to be setup as WEB

• Unbalanced file / Balanced file