Electronic payments are a fast, secure way to move funds
Using the Automatic Clearing House (ACH) network to initiate and receive electronic payments can create new efficiencies for your business. However, please know that outgoing payments often clear the same day you begin them. The bottom line is that to avoid the risk of overdrafts, it's important to make sure there are sufficient funds in your operating account before initiating payments.
- Get real-time account balances through Online Banking, Mobile Banking, or 24-Hour Xpress Banking (205-695-7148)
- For the use of Bank of Vernon ACH Origination services, agreements are necessary
- For outgoing payments, a fee of $5 is charged per batch, with an additional charge of $0.10 per item within the batch and $0.06 for same day per item in the batch. This fee structure ensures transparency and helps you manage your costs effectively.
Bank of Vernon is a full-service Community Development Financial Institution with locations in Mississippi and Alabama.