Oriental Bank announced the availability of ACH Positive Pay and ACH Same Day services for its commercial customers performing payment or collection transactions through Oriental Cash Management platform or any other tool defined and approved by the bank.
“In Oriental we continue to work to introduce innovative services, incorporating advanced technological solutions, so that our customers can feel safe and work fast and efficiently when processing electronic transactions,” said Patrick Haggarty, executive vice president of Commercial Banking and Trust at Oriental.
“We want to give our customers the confidence, safety and efficiency they seek from financial services,” he said.
ACH Positive Pay is a service designed to protect the account from unauthorized electronic debits. The service allows the customer to determine which payments may be made from their account and set minimum and maximum values that each authorized entity may debit from their account.
Meanwhile, ACH Same Day allows customers to perform, effective the same day, payroll or supplier payments as well as electronic collections from customers through electronic transactions.