ACH & Wire Transfers
Automated Clearing House (ACH) and Wire Transfers are a fast, reliable and secure way to disburse funds, accelerate payment and collection procedures and reduce operating costs.
Automated Clearing House (ACH)
With next-day settlement, ACH allows you to improve your payment processing efficiency and accuracy and reduce expenses. We offer ACH services for businesses that want to collect funds and make payments electronically in batches through the ACH network.
Typical ACH applications include:
- Direct Deposit of Payroll
- Dividends
- Monthly Payments & Collections
Below is a list of fees associated with our ACH services:
| bizConnect Monthly Fees | $25 |
| Per entry | $0.10 |
| Per item received | $0.15 |
| Per return | $4 |
Other Fees include:
| ACH Setup | No Fee |
| ACH Rules (Required) | $40 |
| Late Filing Fee | $25 |
| Research Fee | $25 |
Wire Transfers
Peoples Bank Wire Transfer service is the most expedient method for transferring funds between your business accounts and other bank accounts. It can be used for domestic and international transactions in which no cash or check exchange is involved, but the account balance is directly debited electronically and the funds are transferred to another account in “real time.”
Merchant Services
Peoples Bank’s Merchant Services offers businesses a comprehensive array of electronic payment processing products and services that deliver unsurpassed value through our alliance with Higher Standards.
Credit
By opening a Merchant Services account, you can accept every major credit card at your point-of-sale (POS) including: Visa, MasterCard, American Express and Discover.
PIN-Secured Debit
We support both PIN-secured and signature-based debit transactions, which are low-cost and help you reduce fraud and increase the speed of transactions.
Check
Turn paper checks into electronic purchases right at the POS. It’s fast, secure and convenient for you and your customer.
Gift Cards
Our Gift Card program features simple-to-order standard and custom card designs.
In addition, you receive local terminal training and support, as well as customer service support 24 hours a day, 365 days a year through a toll-free telephone number. One of our business bankers can visit with you about integrated software solutions, fraud prevention and monitoring, and wireless and internet processing technology should this fit your business.
Payroll Cards
Did you know that using payroll cards reduces the typical employer’s payroll costs by as much as $223 per employee per year!
If you are still paying your employees by check, then your money isn’t working as hard as you are. Introducing the MasterCard Payroll Card.
Why should you offer a Payroll card?
Operational Cost Savings
- Reduce check handling cost
- Reduced liability for fraud and risk
- No stop payment or lost check replacement costs
- No Escheatment Processing
Productivity Benefits
- Streamlines distribution of paper checks
- Controlled Spending/Budget Control
- Increase employee retention by offering cost savings and value added benefits
Indirect Benefits
- Safer for employees than checks
- Convenience for employees
What are the benefits for your employees?
- No waiting in line
- No check cashing fees
- Instant access to their pay
- Email and text alerts
- Easy online bill pay
- FREE credit scores
- Private – The employer has no access to the card activity
- Simple card-to-card and card-to-bank money moves
How do you learn more or sign up?
- Contact Tony Ebertz in Cash Management at 952.230.9036
or - Call or Stop in any one of our offices today!
Remote Deposit
Remote Deposit is like having a 24-hour bank teller right in your office.
Remote Deposit utilizes a desktop scanner that connects to your PC and the Internet. With it you can scan checks received from customers and issue deposits electronically to the bank, anytime day or night. It’s the fastest way to turn checks deposited into cash.
Make deposits anytime*
Enjoy the convenience of making deposits electronically 24-hours a day, 7-days a week, even weekends.
Save time preparing deposits
Preparing deposits electronically is very efficient, reducing labor costs and freeing up staff for other tasks.
Cut costly courier fees or trips to the bank
Electronic deposits can reduce trips to the bank or eliminate costly courier fees.
Consolidate funds from remote locations into one bank
Check deposits can easily be made from any remote office or storefront. This streamlines your cash flow by consolidating deposits from multiple locations into a single bank.
Reduce risk of check fraud
Faster check clearing allows you to act sooner on returned checks, significantly increasing your opportunities for collection.
More secure
Multiple layers of security including password protection, Internet firewalls, and 128-bit encryption, the highest level of security available.
What you will need
Remote Deposit is easy to set up and use. All you need are the following items:
- PC with Microsoft Windows 7 or greater and a USB 2.0 port
- Peoples Bank Desktop Scanner and software
- Internet connection
- Internet Explorer 9, 10, or 11
- Peoples Bank business account
For more information, please email This email address is being protected from spambots. You need JavaScript enabled to view it.or call 952.230.9036.
*Deposits made prior to 6 p.m. CST on a regular business day will be credited the same day. Deposit made after 6 p.m. CST or on a non-business day will be credited on the following business day.
Zero Balance Account
Segregate the collection and disbursement of cash, eliminate the need for internal bank account transfers, and maximize funds available for investment or overdraft protection.
A Zero Balance Account consolidates balances from multiple collection and disbursement accounts (sub accounts) into a single master account. During the nightly posting of transactions, excess funds are either swept from the sub accounts to the master account, or from the master account to the sub accounts to restore sub accounts to a zero balance.
