Corporate Cash Management

ACH Batch

ACH Batch is typically used to send funds to or collect funds from individuals rather than other businesses. ACH Batch allows you to initiate several similar transactions simultaneously - such as weekly payroll to 50 employees or monthly rent collection from apartment tenants. Other uses may include collecting health club dues, church tithes, and utility payments. If you've ever signed up for "AutoPay" or "EZPay" or "Direct Deposit", a function like CCM's ACH Batch is being used, and your business can use it too.

CCM's ACH Batch allows OCSB business customers to enter the account information of each Receiver (the person being debited or credited). This information is stored along with a typical payment amount. Once this information is entered, sending transactions is quick and easy. When you are ready to move funds, you can tweak the amounts, add or remove individual Receivers, and submit the batch.

ACH Send File

Many finance and accounting software packages used by businesses include the capability to create a complete NACHA-formatted ACH file. Businesses that use such software to manage payroll or accounts payable may have already entered their Receivers' account information into their internal software. In such instances, having to enter the same information into ACH Batch or Single Entry is redundant. Rather, if your software has the capability to do so, you can export the transactions into a complete ACH File and send OCSB the file through CCM for processing through the Federal Reserve. This saves you the hassle of keying amounts and account information into CCM itself. Instead, CCM acts as a secure transmission conduit and does not change the content of your file information in any way. Using CCM's Send File ensures that your confidential ACH file is transmitted to OCSB through a secure, encrypted method. OCSB's e-Business services will work closely with customers who wish to utilize ACH Send File to ensure files are properly configured and tested to meet the Federal Reserve's standards.

CCM Wire Requests

OCSB customers whose business processes require the same day settlement and "near-real-time" transmission speed that wires offer may benefit from CCM Wire Requests. Businesses who regularly initiate wires can add the CCM Wire Requests service to conveniently send domestic wires without visiting a bank branch. Furthermore, CCM Wire Requests have the capability to store the account and beneficiary information for a wire, making a recurrence of the same wire down the road much easier. While CCM Wire Requests can only be sent to domestic (US) recipients, OCSB customers may visit any OCSB branch to request a foreign, or international, wire transmission. Fees apply.

CCM Dual Authorization

Because features like CCM's ACH Origination and Wire Requests allow the movement of large sums of money through remote access, businesses utilizing such services have sometimes been targeted by online criminals. Dual authorization is an additional layer of security offered by OCSB to deter both internal and external criminal threats. Dual authorization for ACH Origination and/or Wire Requests requires one CCM user to initiate the transaction and another user within your company to approve it. If both steps aren't completed on the same day, the transaction is voided and never sent to OCSB for processing. Dual authorization is effective against external fraud because it requires the access information and credentials of two individuals. Dual authorization is also effective against internal fraud by a rogue employee. While dual authorization will not guarantee that all fraud will be avoided, it does add an additional layer of protection to OCSB's other online security processes.

OCSB highly recommends companies utilizing ACH Origination or Wire Requests consider dual authorization if your organization supports it. Businesses with only one CCM user cannot utilize dual authorization.

There is currently no fee to add and utilize Dual Authorization.