PAYABLES SOLUTIONS

Have you considered using Wachovia to help pay your suppliers, vendors, and employees? Reduce your costs, relieve administrative burdens, and make the most of short-term working capital? Let your money work for you—disburse funds efficiently and quickly with one of our payables solutions.

Automated Clearing House  (ACH)

• Reduce paper by making electronic payments through the ACH.
• Transmit overnight and future-dated payments electronically via Internet or telephone, or with a direct file transfer or through a third party.
• Use ACH services for: direct deposit of payroll, pre-authorized payments, tax payments, and cash concentration.

ASO/Partners^®

• Meet your unique need as an insurance company through a specially designed program for account structure, controlled disbursement of funds, fraud risk management, account reporting, and information via the Internet.
• Support all aspects of claims administration.

Account Reconcilement Processing

• Balance your disbursement accounts more easily and quickly with our account reconcilement services that include:
  • Paid Only Reconcilement – provides check paid information only.
  • Full Reconcilement – provides check paid and outstanding checks information compared to your company’s issue report.
  • Positive Pay – works in conjunction with Full Reconcilement to compare checks presented for payment against your issuance file.

Controlled Disbursement

• Check totals are presented on your account daily by 10am.
• Fund your Controlled Disbursement account through account or wire transfers or other approved sources.

Domestic and International Wires and FX Drafts

• Initiate domestic and international wire transfers, receive advices of incoming funds, and obtain timely information about wire transfer activity.
• Make foreign currency or U.S. dollar payments via a draft drawn on a bank physically located in the region of the world you are making the payment.
• Use the Internet, telephone, or Wachovia’s Integrated Payables service to initiate your foreign and domestic payments.

Direct Pay^®

• Deposit your employees’ pay via ACH onto a Visa^®-branded Check Card.

E-Box^® Payment Origination

• Send one file of electronic payments to multiple payment processors and billers.

Integrated Payables

• Initiate electronic and check payments by sending a single file of payment instructions to Wachovia.
• Use any of the following payment types: check, ACH, corporate wire transfer, or foreign drafts.

Online Payables

• Send a single file of payment instructions to Wachovia via the Internet.
• Let Wachovia handle the printing and distribution of checks and associated documents for all of your vendor and employee payments.

Zero Balance Account (ZBA)

• Use a separate demand deposit account (DDA) for deposit and disbursement activity to consolidate your funds into a master account at the corporate level.
• Transfer funds automatically between the master account and any of the subsidiary accounts.

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