SYNOVUS BANK - Laserfiche WebLink

Home Browse Search

originated from the Federal Reserve for posting. Synovus offers three primary methods for customers to initiate ACH transactions: Gateway (online banking): Offering optional ACH templates, setting, and maintaining ACH recipient information, and the flexibility to manually enter or upload from file. File formats include a 5 column CSV, customer custom map, or Nacha. Transactions require a two-user process for entry and then release. Gateway supports a file Pass Thru option which supports the upload of a full Nacha formatted file along with the security of a two-user upload and release. Direct file transmission (Direct Send) which connects the customer system of record generated Nacha file directly with Synovus ACH payment processing. Once this option is set up, the process is ‘hands-free’ for our customer. ACH transactions received and originated from both Nacha and the Federal Reserve. ACH transactions are posted based on the effective date of the item or batch, and when the item was received or originated from the Federal Reserve for posting. Below is Synovus ACH Origination System Cut-off Times: ACH Origination via Gateway (Future Dated) 10:15AM, 1:45PM, 2:00PM, 3:45PM, 5:00PM& 6:00PM ET. ACH Origination via Gateway (Same Day) 10:15AM and 1:45PM ET. ACH Origination via Direct Send (Same Day and Future Dated) 9:30AM, 12:00PM, 1:15PM, 3:15PM ET. ACH Origination via Direct Send (Future Dated) 4:00PM, 6:00PM and 7:00PMET. Same Day ACH is the ideal solution for the Cityto manage payroll, bonuses, and emergency payments in a timelier manner. Same Day ACH Origination currently allows you to create domestic ACH transactions of $1,000,000 or less for same-day processing, rather than the usual two-day processing time. Receiving banks are required to post eligible ACH transactions received by 5:00 PM local time on the same day. The Citywill experience additional benefits including expedited payments, improved liquidity, and flexibility to make unexpected payments. ACH and Wire Templates The customer can create ACH and Wire templates to automate routine payments. Templates help you to reduce error rates, delegate tasks, and control regular payments. You can create a template and assign it to another user. You can also control how that user can access, use, and change the template. Depending on the user’s rights, that user can do some or all the following: Create a payment from the template and change only the date, amount, and description. Create a payment from the template and change anyfield. Edit the template and save the changes for all users. 12.Direct PayrollDeposit: Provide details of how your bank administers Direct Payroll Deposit Programs. Is there a limitation as to participating financial institutions? July 12, 2024Page 67 City of Sunny Isles Beach RFP 24-06-01 Banking Services - Synovus Bank Submission