Automatically deposit funds through the use of the Automated Clearing House (ACH) network.
It's not just for payroll. Use the Direct Deposit system for electronic expense reimbursement, shareholder dividends, vendor payments and much more.
The Pegasus Bank Direct Deposit service will allow companies to:
- Upload payroll files directly into the system for processing
- Manually create direct deposit entries and create your own ACH batches
- If a payroll staff member will be out of the office, they may submit files earlier than 2 business days and we will warehouse them, up to 30 days, and process on the appropriate date.
Your employees will love the benefits of Direct Deposit. No more teller lines, check cashing fees or worrying about holds being placed on payroll checks. Funds are available immediately on the "pay date" and may be accessed via a Debit/ATM card or a cash withdrawal.For more information, contact Treasury Management at 214.353.3000.