What is ACH?
ACH stands for Automated Clearing House. Icon Bank offers ACH transfers along with many other deposit products through our Treasury Management Services. Automated Clearing House (ACH) is the name of an electronic network for financial transactions processing large volumes of both credit and debit transactions which are originated in batches. ACH credit transfers include direct-deposit payroll payments and payments to contractors and vendors. ACH debit transfers include consumer payments on insurance premiums, mortgage loans, and other kinds of bills.
How does I-SCAN remote deposit work?
An image-scanning device allows you to scan checks and process deposits from your office. The system allows you to make check deposits electronically into single or multiple accounts without having to physically transport the deposit to the bank. To use I-Scan, simply create an electronic copy of the check by scanning the it through a small desktop device that reads the check's account information and the payment amount. The data is transmitted over a secure connection to the bank. To learn more, please call an Icon Team member (click here to find the location closest to you).