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Nashville, Tennessee - Photo Courtesy of Barry Shulam
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Music City, U.S.A.
 ACH Services

Overview: The Automated Clearing House (ACH) is a nationwide network designed to exchange funds and related payment information in an electronic format. It is widely used among government entities, corporations, financial institutions and individuals as a cost-effective alternative to checks.

ezfunds, VolCorp’s ACH platform, is an Internet-based ACH origination, receipt and return (exception) handling system that can add flexibility to your day-to-day ACH processing. Using the speed and convenience of the Internet, ezfunds assists in the collection and distribution of ACH transactions for your credit union.

Benefits of choosing VolCorp for your ACH Needs:
  • Continuous flow
  • Browser-based technology
  • User-friendly application
  • Easy implementation
  • Ability to originate and receive from one platform
  • Advanced security features
  • Derived return capabilities
  • Automated posting to your Transaction Account
  • Comprehensive reporting capabilities for both origination and receipt
  • Separate IAT report available
  • NACHA compliant
  • ACH accredited (AAP), service-oriented staff

ACH Settlement
VolCorp can receive your daily ACH settlement from the ACH operator and post it directly to your credit union’s Transaction Account with VolCorp. By consolidating your credit union’s settlement activity at a single source, you eliminate the need to maintain account relationships with numerous financial institutions.

ACH Receipt
ACH Receipt allows your credit union to become a Receiving Depository Financial Institution (RDFI). Becoming a RDFI gives you the ability to receive daily ach debits and credits for your members. VolCorp offers a safe cost effective, easy to use solution. Through ezfunds, your daily activity can be delivered to the credit union or directly to your data processor for posting to your member’s account. VolCorp offers several different secure options and can customize your ACH file delivery based on your processing needs.

ACH Origination
ACH Origination offers credit unions the ability to become Originating Depositing Financial Institutions (ODFIs) that can initiate electronic debits and credits for their members and/or SEGs within the ACH Network, while reducing payment processing costs. As an ODFI, your credit union can create one-time entries, upload files or you can create templates to initiate reoccurring ACH transactions. The templates allow you to manage recurring payments by date submitted, type of payment, or person. Within templates, you can also create offsetting entries with minimal data entry for posting on your data processing system. The entries are then batched into files and forwarded to the ACH Network for processing. There are several benefits to using ezfunds for ACH Origination:

  • Originate domestic and international ACH transactions through a secure online connection, including payments to Mexico
  • SEGs or small business members can have direct access to the system for payroll or payment processing
  • Controls to reduce risk exposure can be implemented
  • Ability to set up one-time and/or recurring ACH transactions
  • Offsetting entry potential
  • Creates potential fee income for your credit union

ACH Return (Exception) Handling
One of the most efficient and cost effective way to handle your ACH returns and notifications of change (NOC’s) is through ezfunds. You can upload a return file or derive a return by simply entering the trace number and adding a return reason code. Settlement of your ACH returns will take place through your Transaction Account.

ACH Contingency
If you currently receive your ACH receipt via the Federal Reserve or via your data processor, VolCorp can become an alternate access point for you in case of contingency.

Via our internet based ezfunds program, VolCorp can receive your receipt file on your behalf if your current access becomes disabled as well as process your returns. During the set up process, VolCorp will work closely with you to perform all testing to ensure you receive your ACH receipt file in the correct format that your data processing system needs as well as showing you the ease of processing your ACH returns. Origination is also an option and as easy to test. You can document and use the set up process as a testing of your ACH contingency plan.

For more information on any of our ACH Services, please contact Marketing at Extension 3 or email marketing@volcorp.org.

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