Did you know that you can set up approvals for “automatic” ACH withdrawals? Bank may differ on their settings and permissions, but for one of our clients this turned out to be a great solution. While they love the convenience of automatic payments, they were uncomfortable providing vendors essentially a “blank check.”
Solution? Their bank (First Republic Bank) allows them to provide automatic withdrawal to their vendors, but they can add an approval layer that means they have to authorize each payment before it actually goes out. While that may be a lot of work for some, this client finds it quick and easy.
Just, another example of meeting our client’s needs!
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