PAD ACHs are the leading alternative to deposits made by cheque, draft or wire payment as they speed up and simplify the process. Not only will your beneficiaries receive the funds in their account within 48 hours, but the transfer is completely cost free for your business.
What is a PAD-ACH?
A Pre-Authorized Debit Automated Clearing House (PAD-ACH) is an efficient and cost-effective method to electronically transfer funds between your USA-based USD accounts.
This solution is ideal for clients and beneficiaries with USD accounts held in the USA that don’t require same day settlement. Payments are free of charge and typically credit the beneficiary account the following business day.
PAD-ACH transactions have become the desired transfer method for B2B transfers as many businesses are looking for a more efficient and lower cost alternative to paper cheques and manual processing.
Ideal for clients and beneficiaries with USD account held in the USA
Key benefits for PAD-ACH
- PAD-ACHs are free of charge
- Typically credit the beneficiary account the next business day*
- Eliminates the need to visiting the bank
- Creates a secure payment solution and reduces risks of cheque fraud and forgery
- Efficiently manages cash flow
No applicable fees
How do I set up to start using PAD-ACH with Olympia Trust CGP?
PAD-ACHs for businesses are quick and easy to set up. Simply complete the PAD-ACH agreement form and send it in to firstname.lastname@example.org with either a picture of a void cheque, or a direct deposit/pre-authorized deposit form from the corresponding financial institution. Please note each of your beneficiaries will be required to complete a form.
To learn more about Pre-Authorized Deposits with Olympia Trust or to get started, see our frequently asked questions or specifications for all payment and settlement methods.
- Contact Customer Support at email@example.com or call 1.888.937.0702
- See frequently asked questions
Need to make an immediate payment? Learn more about wire payments with Olympia Trust.
*Note on processing times: If your secure settlement is reconciled before 3pm MST, your ACH payment will be initiated that day. The beneficiary can expect the funds in approximately 1–3 business days, as processing times vary depending on the receiving bank.