Online Banking for Business

You can change passwords, view a table of bank holidays, run audit reports that detail user access to the system and send pre-formatted e-mail messages to bank administrators.

Within ACH Payments you can create both payments and collections depending upon which application you choose. For example, Payroll allows direct deposit of payroll (payment) and Cash Concentration allows you to concentrate your funds in a single account (collection).

You can easily initiate ACH transfers through your web browser and feel confident that your transactions will settle quickly, securely, efficiently and according to bank policies and procedures.

The ACH module is easy to use. Each data entry screen is specifically designed for a different type of transaction. Transfer types, also called applications, include:

• Direct deposit of payroll
• Cash concentration and disbursement
• EFTPS tax payments
• Consumer debits and credits
• Release of payments to the bank is as simple as selecting a batch of transactions and clicking the Release button

Use this function to transfer money between your Milford Bank accounts. You can transfer funds manually or schedule transfers for specific future dates. You can retain data entry for repeat transfers so that you need only enter the information once.

Depending upon the type of report, you may be able to specify one of the following report views:

Summary report views show account summary information (such as balances). Depending upon the type of report, you can click on the account number to view a Transaction List view for that account.

Transaction List views show detailed transaction activity for one or more selected accounts. Depending upon the type of report, the account activity displayed can be filtered to show only certain kinds of activity. For example, a check paid report would display only checks that have cleared through accounts.

Statement report views give you a complete statement of current debits and credits for a particular account. You can adjust totals for Statement views.

You can export the results of Information Reports or Transaction Searches as standard comma-separated or tab-separated files which can be read by most database and spreadsheet programs.

Import files created with your accounting software to an ACH database. File types that can be imported into our Business Web Office include:

• fixed format files
• coma separated fields
• NACHA files (electronic files containing payments or related information that are in a standard format which can be processed through the National Automated Clearing House network).