ACH

Benefit from the alternative that allows you to manage all your payments and collections electronically through ACH (Automated Clearing House), the electronic payment and collection network comprised of corporations, financial institutions, and individuals in the United States, Puerto Rico, and U.S. Virgin Islands. Through the ACH service, you can make:

  1. Direct deposit to employees

    Automate payroll process and help your company operate more efficiently by quickly sending direct deposits to your employees' accounts.

  2. Direct payment to suppliers

    It allows you to automatically debit the payments from your commercial account and credit them to the accounts of your suppliers at any banking institution participating in the ACH network.

  3. Direct payment to ASUMEE

    It allows you to support your employees with financial matters by processing their payments to ASUME electronically.

  4. Direct payment to EFTPS

    With ACH, you can also send payments through the EFTPS (Electronic Federal Tax Payment System). With this system—enforced by the U.S. Department of the Treasury—you can issue your payments electronically at any time. In addition, you'll have the most secure privacy protection measures enforced by the federal government.

    You may pay two types of taxes using EFTPS: FICA (Federal Insurance Contribution Act) or 941 for Social Security and Medicare FUTA (Federal Unemployment Tax Act) or 940.

  5. ACH Collections

    ACH Collections allows you to make preauthorized debits from your clients' accounts to facilitate your collections process and update your accounts receivable. In case a transaction is returned, you will receive a detailed report of the returned collection on Business Digital Banking.

  6. ACH Re-Presentment

    With our Re-Presentment service, your ACH debit will be automatically processed up to two times before it is finally debited from your account, facilitating your collections process.

Benefits:

  • Simplify payroll
  • Reduce operational expenses
  • Access and maintain 12-month payment history
  • Reduce risks and costs associated to check issuance
  • Speed up your collections processes

Payment Station

Increase your payment centers through FirstBank's branches and the network of cooperatives associated to our corporation.

With this service, you can make all FirstBank branches (and cooperatives affiliated to our network) into payment centers for your company, providing a broad physical network at which your clients can make payments. Through the Payment Station service, FirstBank receives the payments, bills, receipts, or vouchers from your company and processes them to create and send you a file with the received payments.

Benefits:

  • Larger payment center network
  • Receive direct credit to your FirstBank account
  • Receive an electronic report or file detailing the received payments

Lock Box

Manage your received payments. Retail & Wholesale Lockbox.

For businesses that receive a considerable volume of payments with coupons or bills through mail, FirstBank will effectively process automatic collection thereof and send you an electronic file to update your accounts receivable. By designating a post office box exclusively for your company, it benefits from the collection, organization, and deposit of the payments made by your clients, so that they are quickly available in your account.

Benefits:

  1. Reduce the time it takes to process your deposits
  2. Reduce operational costs
  3. Maximize the efficiency and productivity of your company
  4. Receive an electronic report or file of payments received to update your accounts receivable system.

Bill Payment

Make utility and supplier payments in a single system

Our Commercial Bill Payment service allows you to issue, schedule, or cancel electronic bill payments from the list of merchants previously defined in our payment platform.

Benefits:

  • Keep online history of all processed payments
  • Register your recurrent payments
  • Centralizes your payment channels and monitors your balances

Commercial Bill Payment – Billers

Receive payments from your clients through FirstBank's digital platforms with the Commercial Bill Payments for Billers service, which allows you to automate your collection channels and receive guaranteed and direct credit to your account as we verify the availability of your clients' funds before we process the transaction.

Benefits:

  • Receive direct credit for the total payments received into the account
  • Reduce the volume of returned transactions
  • Speed up fund availability
Call our First Commercial Service Center, Monday to Friday from 7:30 a.m. to 5:30 p.m.

Activate services or receive a quote free of charge.

 
787-729-8290 (option #2)



Member FDIC. Certain additional terms and conditions may apply. Services available only to FirstBank business customers. Smart Cash Management Solutions services are subject to charges and subscription of additional services. Customers must have accounts with FirstBank and be registered in the Smart Cash Management service.