ChoiceOne offers Cash Management services though our ChoiceNet Online Banking System. The following is a breakdown of the services included in the package.
- Bill Pay
- Collections
- Authorized Transactions
- EFTPS Tax Payments
- ACH Payments
- ACH Receipts
- Wire Transfer Requests
- Send a File
- Order Currency
- Payroll Direct Deposit
- The mounting cost of handling paper transactions has laid the groundwork for the success of Direct Deposit. Direct Deposit benefits companies with reduced payment processing costs and operating efficiencies. The benefits of Direct Deposit to companies include:
- More efficient reconcilement through batch processing versus single entry check processing
- Elimination of lost checks and resulting stop payment charges and handling associated with replacement checks
- Elimination of critical delivery costs such as expensive overnight delivery, since funds are automatically deposited
- Elimination of special check handling, such as vacation checks, since deposits are made when the employees are away from work
- Reduced storage and security of checks because check stock is not required for the payroll earnings record
- Reduced employee lost time commonly experienced with long lunch hours on pay days
- Valuable low cost employee benefit
With Direct Deposit, businesses can save more than $1.25 on each payroll check processed. Up to 25% of all employees take time to deposit their payroll checks on payday. American companies could increase productivity by $3-5 billion if all employees used Direct Deposit.
- The mounting cost of handling paper transactions has laid the groundwork for the success of Direct Deposit. Direct Deposit benefits companies with reduced payment processing costs and operating efficiencies. The benefits of Direct Deposit to companies include:
If you are interested in learning about our products or services, please contact our Customer Service Center at 616-887-7366, toll-free at 1-888-775-6687, or visit us at any ChoiceOne Branch location, you can also email us at ch1info@choiceone.com.
