ACH payments through your bank


Audience: Accounting Manager 

Summary: This article reviews information regarding making ACH payments directly through your bank rather than 

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MineralTree is able to generate ACH credit files (NACHA files) and transmit them daily to a customer's bank via an SFTP file transmission.  The bank then issues these ACH transactions automatically.  

This is identical to an ACH credit initiated through an online banking portal. ACH payments are approved together with check payments through the MineralTree interface and the rest is taken care of automatically by the MineralTree system.  

Setup Process

  1. Customers connect a MineralTree Support representative with their bank relationship manager who works with their team to set up an SFTP file transmission.
  2. The bank fills out a short questionnaire regarding SFTP information and any file formatting preferences.
  3. Testing is conducted on the SFTP connection and file format between MineralTree and the bank.  
  4. Once the connectivity and file format are approved, the setup is moved to production and the customer can go live with ACH payments.  
  5. The first live payment is monitored by MineralTree and the bank to ensure that everything is set up properly.

Frequently Asked Questions

Will my bank charge fees for this?  How much are the fees?

Banks typically charge a setup fee, a per transaction fee, and a file fee for each file transmitted. Fees will vary depending on the bank and the account.

MineralTree has an ACH service at no additional cost. To learn more about this, please contact MineralTree support.

How long does this take to set up?

The testing process typically takes 2-4 weeks.  During this time, MineralTree support will work with your bank to gather the file requirements and test the transmission.

How do I know if my bank supports this?

This method is supported with any bank that can receive NACHA files via SFTP which includes most banks in the US.

When my setup is live, what will the daily cutoff time be for submitting ACH payments?

MineralTree conforms to each bank's daily cutoff time.  Most banks need ACH files delivered by ~7 PM Eastern time, though many have earlier cutoffs.  The specific cutoff for a new transmission setup is determined during testing.

When my setup is live, how long do my ACH payments take to process?

The payment settlement time is the same as a standard ACH credit -- 1-2 business days.

How will this look on my bank statement?  

Each individual transaction will be recorded as a separate line on your bank statement.  The information that displays on your bank statement will vary based on your bank.  The payee's bank statement will show the payer's name and the amount.

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