Electronic Disbursements

Superior Convenience: The most efficient way to disburse funds

As any businessperson knows, the timely disbursement of funds for payments is a hallmark of a well-run organization. Electronic Credits is one way to make sure your payments go out like clockwork.

Focusing on the Out-Flow of Cash

In the cash management process, businesses tend to focus on the flow of cash into their companies. However, it’s also essential to pay attention to the cash that flows out. Specifically, how it flows out.

Timely disbursement of funds for payment is essential for a well-run business. One method for avoiding any delays in payments is by disbursing funds electronically.

Everyone Benefits

The Automated Clearing House (ACH) is the primary electronic funds transfer (EFT) system used by companies to make payments. At Superior Bank, we offer ACH origination through our Online Banking service EDIT: Change NetTeller to Online Banking service. Not only will disbursing funds electronically save your business time and increase its efficiency, but it will also ensure timely payments to:

• Vendors
• Employees
• Owners
• Government/Government Agencies

Payroll is the Place to Start

Most payroll systems include a direct deposit option. Using this feature you can process your payroll and then pass the direct deposit file to Superior through our Online Banking system. By instituting an electronic payroll system, both you and your employees will enjoy significant benefits.

Business Benefits

• Eliminates the expense and time of preparing, mailing, and reconciling paper checks
• Eliminates the need for replacement checks
• Enhances security by not mailing checks
• Provides greater control and predictability for your payroll since funds are debited on settlement day
• Eliminates employee time away from the office to get checks to the bank

Employee Benefits

• Saves time and gas money by removing the need to go to the bank
• Provides the option to split deposits between checking and savings
• Sends deposits to any bank or credit union

Ready to make your business more efficient?

Contact your Superior Banker and learn more about ways to disburse funds more efficiently.