If your business is still sending and receiving payments via paper checks, SunTrust can help you save money and time.
We offer an array of cost-effective online services that help you streamline payroll and vendor payments. By taking advantage of the benefits of electronic payment solutions, you not only cut payment processing and postage costs and improve cash flow, but you’ll have more time to focus on your business. Additionally, these online payment solutions help you guard against fraud and avoid theft of paper checks.
With ACH Direct Deposit, you can make payroll deposits or other one-time or recurring payments electronically. Though direct deposit is commonly used to distribute payroll, it is ideal for any payments you make on a regular basis, including travel and entertainment expense reimbursements, stockholder distributions or vendor payments. Direct Deposit saves you time and money.
A complete payroll solution that allows you to pay employees by check or direct deposit is just three clicks away. You simply go online, enter hours, preview payroll and you’re done. Employees receive e-mail notification when they’ve been paid. Online Payroll is accessed through Online Cash Manager, giving you convenient, online access to both payroll and your bank account balance and transaction information. It can also be used in conjunction with SunTrust Online 401k, our easy-to-use online retirement plan solution for companies with 100 or fewer employees.
Enterprise Payment Processing
Our Enterprise Payment Processing® service allows you to focus resources on your core business by allowing SunTrust to process your electronic and check payments. You can reduce internal costs, improve controls, and blend disbursement outsourcing with your other treasury management services, creating your own integrated payments system. You provide instructions and data for payments to be made by check, ACH or both in a single, consolidated file that you transmit based on your payment cycles. Using our Online Remittance Reporting option gives your vendor ACH payees online access to PDFs of payment remittances or advice using information included on your data file. As the final step in payment processing, we can mail checks, remittance advices or your ACH direct deposit pay stubs to payees, or return documents to you for delivery.
An ideal solution when speed is essential, Wire Transfers are the fastest method for transferring funds. We can process your wire and release funds within minutes of receiving your approvals and verifying there are available funds in your account.
To speak with a SunTrust business banker call 877.370.5108.