Business Banking
The Business Banking window is the hub of the primary activity on the account.
You can carry out a number of payment actions by clicking on the Payments tile.
From here you can either make a New Payment, create a New Template payment, or send a payment via an existing template.
This leverages Cross River settlement account to submit transactions via ACH on-us for 24/7 settlements.
Click New Payment and then ACH Batch.
- Click SEC Code and select CCD.
- Click From Subsidiary and select or enter the name of the subsidiary that the payment will be sent from.
- Click Account and enter the account number that this payment will be sent from.
- Click Effective date. Select the current date. Do not plan this transaction type for a future date.
When you select the current date in the Effective Date field, the following disclosure displays:
- Click Agree to continue.
- In the Recipients field. Select the account you want to send the transaction to. The field stores all accounts you have used previously. To add a new or first time recipient see Add a recipient .
- Enter the transaction dollar amount the Amount field. For this payment type each transaction can be $1M or less.
For transactions over $1M, the total amount must be broken up into multiple transactions of $1M or less. To break up the transaction add another transaction to the batch.
Enter or select details for the recipient and the dollar amounts in the Recipient/Account and Amount fields.
- Click Draft. This initiates dual approval. This screen displays:
The need for dual approval may depend on the dollar amount as well.
You can view the status of a transaction in the Activity Center and Approve, Copy, Notify or Cancel it here (using the 3-dot menus).
The box at the bottom of the window shows the status of the transaction as part of the whole process.
Authorization takes place using the dual approval system.
Click on New Payment and then ACH Payment.
Click inside the Recipient/Account field and +New Recipient displays. Click +New Recipient.
The Recipient details window displays. Enter the following information in the Recipient details window.
Field | Description |
Display Name | The name of the account that will be stored in your online banking portal for future use. |
Email Address | Add your email address and click the box if you wan to send email notification for template payments |
Account Type | Select one. Checking, Savings, and Loan. |
Account | This is the account number of the payee. |
ACH Routing Number | For these transactions this should always be 021214891 (Cross River's routing number). |
Click the blue tick to confirm adding this account number to the recipient you are creating.
To complete the process the remainder of the Recipient Details section must be also be completed.
Enter the following information in the Recipient details window:
Field | Details |
ACH Name | The recipients name (max. 22 characters)/ |
ACH ID | This is an optional field (max.15 characters). |
Address 1-2, City State and Zip | Recipients full address including City, State and Zip. |
Click Save Recipient. |You will now be able to select this payee in the Recipient/ Account field in the ACH Payment page.
- A template can include multiple wires for recurring transactions that you manage.
- To add additional wires to the template, click Add another wire until all the wires for this template are populated.
Click the Business Reporting to generate templated/canned reports as well as creating new reports.
To generate a report, select the 3-dot menu next to each report. When the report is ready, the CSV/PDF text displays highlighted as a hyperlink , if you click on this it automatically downloads.
Report can be configured to be run on demand, or in a pre-defined pattern.