Payables

All businesses have expenses. The key is to 

make payments as efficiently as possible.

You want your assets working for you every possible minute. But when you send paper checks, you tie up money in bank accounts while waiting for checks to clear. Whether you’re paying employees, vendors or shareholders, moving money electronically is more efficient. It stays in your account until the last possible moment. And avoiding the mail reduces the chances of check fraud.

ACH Disbursement Services

Automated Clearing House (ACH) is an electronic network that handles large volumes of credit and debit transactions by individuals and businesses. Atlantic Union Bank offers business customers these ACH services.

• Use direct deposit for payroll, dividends, annuities or paying employee expenses
• Specify exactly when the funds are to be transferred
• Pay vendors and make regular utility payments with ACH funds transfer
• Meet payment schedules without tying up funds in the ordinary check-clearing process

Integrated Payables

We offer integrated automation of your accounts payable process including goods and services’ vendor enrollment, payment and reconcilement. Atlantic Union Bank – powered by Paymerang℠ – provides optimum efficiency, cost savings and security into your payable process.  

• Move to streamlined three-step accounts payable process – upload file, fund batch, mark as “paid”
• Enjoy improved vendor communication regarding payment inquiries
• Rest easier with comprehensive risk and compliance management processes included with your program
• Realize cost savings through automation of processes and increased electronic payments

Purchasing Card (PCard)

Purchasing cards are a form of company credit card issued to authorized employees for travel & expenses, and to vendors and suppliers in an effort to procure goods and services within certain restrictive limits. Employees can bypass a traditional purchasing procedure involving requisitions and purchase orders.

• Decrease costs associated with the processing of checks, invoices and purchase orders
• Flexible authorization system and cardholder spending controls
• Easy integration with accounting and payment systems
• No cost, web-based card management tool

Wire Transfer Services

You can initiate domestic and international wire transfers right from your office computer. Here are some of the benefits of Atlantic Union Bank’s wire transfer services.

• Benefit from multiple layers of security; specify exactly which employees are permitted to send transfers
• Move money quickly to domestic and foreign locations
• Set up transfers for a future date and repeating transfers
• Analyze your transfer history
• Save money by initiating wires through Business Online Banking