In order to provide more convenient banking services for commercial customers, Citizens Bank now offers ACH origination, an electronic system that debits one account while depositing money into another account, with one computerized transaction.

Examples of ACH transactions include direct deposit of payroll and automatic debits, such as payment of insurance premiums. ACH Origination is not only convenient but also serves as an accounting asset for commercial customers.

What ACH Origination can do for your company:

• Reduce operational costs
• Increase efficiency
• Improve funds availability
• Provide benefits for employees or customers

Send and receive wired funds via the FedLine. Just provide CBOTS with a bank routing number and account number, Beneficiary name, address, social security number, and account number when applicable.

Domestic Wire Fee: Incoming – $20.00   /   Outgoing – $25.00

Elevate your cash management program to a more efficient level by enrolling in our automatic transfer or sweep accounting program. With this program, you can:

 

• Transfer excess funds to an interest bearing account
• Receive overdraft protection for highly transacted accounts
• Use funds on an as needed basis so that greater yields can be earned
• Process accounts payable automatically on a scheduled basis

 

CBOTS provides three easy ways to make your TT&L payments.

 

1. Using CBOTS cash management program, initiate a or schedule a recurring tax payment which settles as an ACH debit in the account of your choice
2. TT&L Credit: bring a check, your Tax ID#, Tax Type, and Tax Period to the bank and customer service will wire your funds to the IRS
3. TT&L Debit: Customer calls the IRS’s tele-automation number to initiate payment. Then the IRS automatically debits your account at CBOTS via ACH