Treasury Management Services Alerts

Columbus Day Holiday

We will be closed on Monday, October 10, 2022, in observance of Columbus Day.     

ACH Payments

ACH Payments that are normally submitted on Friday with a Monday effective date will need to be submitted by 5:00 PM EST on Thursday October 6, 2022, with an effective date of Friday October 7, 2022, in order to be received by the recipients the morning of Friday October 7, 2022.  No ACH payments will be received on Monday October 10, 2022.  

Bill Payments

Bill payments submitted after 4:00 PM EST on Friday October 7, 2022, will not be picked up for processing until Tuesday October 11, 2022, at the normal processing times.   

Have a safe and happy holiday! 

Your Treasury Management Team 

Important ACH Information

The prenotification process can help your company ensure the data in your file is accurate prior to sending live dollars. Use of the prenotification process is optional; however, when an Originator initiates a prenote to a receiver, it must do so at least three banking days before initiating the first live dollar electronic transaction to that receiver.  Beginning October 1st, 2022 failure to wait the three banking days will result in the batch or file containing that receiver being rejected.  If a response is not received by the end of the third day, your company may initiate live transactions. If your company receives a Return or Notification of Change (NOC), your company must correct your records prior to initiating live dollar transactions. Your company may choose to submit another prenote file after making your corrections; however, this is not required.

A Notification of Change is a non-monetary transaction by which an RDFI (Receiving Depository Financial Institution) notifies an ODFI (Originating Depository Financial Institution) that information contained in an entry the RDFI has received and posted has become outdated or that information contained in a prenotification is incorrect. The entry must be transmitted to the ODFI within two banking days of the settlement date of the entry. The Originator must make the changes specified in the NOC within six banking days of receipt of the NOC information (or prior to initiating another entry to the Receiver’s account, whichever is later)Beginning October 1st, 2022 failure to make the recommended changes will result in the next batch or file containing that recipient being rejected.  PLEASE NOTE: Non-compliance could result in NACHA rules violations and associated fines.

The cutoff time for ACH is 4:00PM CST/5:00PM EST the prior business day.  We recommend submitting your file before 2:00PM CST/3:00PM EST the prior business day to ensure you have time to correct the file in the event it is rejected for one of the reasons listed above.

Important Positive Pay Information

Treasury Management is the in the process of making changes to our Positive Pay process. If a check is voided in Positive Pay, a stop payment must also be entered into Business Online Banking. If for some reason a stop payment is not issued, you need to decision this item when it appears in your Positive Pay exceptions with “Refer to Maker” as the decision. Additionally, if a stop payment is entered, you will want to issue a void in Positive Pay to ensure that the item is removed from current listing of outstanding checks