Electronic payments and transfers are fast, low-cost methods of moving funds from one person or company to another person or company. Through Online Banking Business Edition, your business can take advantage of online ACH payments, federal tax payments, and wire transfers.
Some processes involve the use of federally-governed tools which are used by the Federal Reserve Bank and other financial institutions nation-wide. These include the Automated Clearing House (ACH), the Electronic Federal Tax Payment System (EFTPS), National Automated Clearing House Association (NACHA), and Fedwire®. NACHA requires that you obtain and maintain an annual copy of the NACHA Operating Rules.
A note about transaction timing
The federally-regulated EFTPS, ACH and Fedwire systems only operate on banking business days. So even though Online Banking Business Edition allows you to create and save tax payments, ACH batches and wires on weekends and holidays, they will not be transmitted until the next banking business day. Therefore, all submission and receipt timings regarding such payments assume banking business days.
You can transfer funds to other accounts using Online Banking Business Edition. There is no maximum amount that you can transfer when the accounts are under the same name and Tax ID number or when you have set up consolidation.
You can transfer funds to another member's Alaska USA checking, savings, money market, or loan account using Online Banking Business Edition. Access the "Transfer Funds" tab in Online Banking Business Edition to enter the last name, account number, and account type of the recipient. The maximum aggregate dollar amount per transfer is $2,000.00 per day.
A Stop Payment Order is a request where a member instructs the credit union to refuse payment on an unpaid check or a pre-authorized debit which the member previously authorized.
A Stop Payment Order may be placed on any unpaid check electronic check (preauthorized draft), or preauthorized debit (ACH) prior to the payment posting. Once a payment has posted, it cannot be "stopped". Stop Payment Orders received before 10:30 p.m. Alaska Time will be effective immediately. Orders received after 10:30 p.m. may be effective the following calendar day. This Stop Payment Order will be in effect for two years. If this stop payment is for a temporary check (counter check) and you have received more than one set of temporary checks, all checks with the number you enter will be stopped.
If you placed a Stop Payment on a blank check(s) and later locate it, be sure to release the Stop Payment Order before you use it. The stop payment fee is waived on Stop Payment Orders placed through Ultra Branch Business Edition.
To stop preauthorized debits, please contact the Member Service Center at 800-525-9094 or 907-563-4567 or visit a branch office.
Bill Pay is fast, easy and secure. Make payments to anyone quickly, with one-day payment options for many companies. Bill Pay works with your Alaska USA checking account. You access it through Online Banking Business Edition and it's easy to set up. There is a $5.95 monthly service charge for unlimited transactions.
An ACH is like a batch of electronic checks paid at one time to different people, who may bank at different financial institutions.
A tax payment is a type of ACH payment.
To help you maintain control over your budget, all electronic payments are subject to company and user specific limits. It is very important to review electronic payments pending approval on a regular basis.
Find answers to all your questions about administering your Alaska USA business account online.
Learn how to assign and grant employees access to specified accounts and tools.
Create, view, and save reports to help you keep track of account transactions and user activity.
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