Direct Payments
By using the Automated Clearing House (ACH) to make electronic payments, you can save expenses, increase security and streamline account reconciliation. Direct Payments can be made to your employees (Direct Deposit of Payroll) a benefit employees have come to expect. Direct Deposit of Payroll eliminates the hassle of your employees having to cash their paycheck and automatically credits their bank account with their net pay on pay day. Vendors can also be paid with Direct Payments through the ACH, saving you the cost of wire transfers or paper checks. You can ensure your vendors are paid on time and at a lower cost.
Same Day ACH Direct Payment is also available. This service adds the value of being able to send and settle Direct Payments on the same day.
Here’s how it works. Direct Payments via the ACH electronically credits employees’ or vendor checking or savings accounts instead of disbursing checks or sending wire transfers. We’ll offer your employees who have their pay deposited at Sandy Spring Bank a package of financial services, including free checking. You can use Business Online Banking to get it all done.
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* Subject to credit approval.