Business Services

When you’re running a business, you don’t have time to run to the bank.

Let’s say you need to deposit payroll. Verify a check. Make a business-to-business payment. Scan and deposit checks to your business account from your office. Done. We’ll put all the tools at your fingertips. They make running and growing a business straightforward and easier than you think.

 

Our services include:

Night Deposit
Night Deposit is a convenient and safe way to do your after-hours banking.  Night Deposit drops are available at all six branch locations. *Additional night deposit bags available at a cost of $25 each.

Online Banking
Simply Bank offers a variety of online banking products that are secure, convenient, and easy to use.

  • Access account information online
  • Download account history information into accounting or personal finance software
  • View, print, or download account Image Statements
  • Pay bills online

Online Banking/Cash Management Services 
Additional Cash Management services are available through Online Banking for qualifying commercial customers, including:

  • ACH Origination
  • Remote Deposit Capture

Safe Deposit Box 
Safe Deposit Box can provide comfort and peace of mind. Safe Deposit Boxes are available at all six branch locations for individual and commercial rental. We offer a variety of sizes at a low cost to our customers.

Merchant Check Verification 
Call your 24-hour Telephone Banker. Verify funds with no hassle. (423) 570-2408.

Merchant Card Sales 
Talk with any of our Customer Service Representatives to see how your business can accept credit/debit transactions.

Business Debit Card 
Print and complete your Business Debit Card Application HERE.

Remote Deposit Capture
Remote Deposit Capture is a service which allows companies to scan their own checks and transmit those check images over a secure internet connection to their bank for posting and clearing. Do you have a high volume of check transactions to your business by mail, or a remote office? Remote Deposit Capture saves valuable time and money for your company if you can scan and deposit your checks directly to your business account from your office without mailing your deposits or visiting your local branch.

ACH Origination 
Automated Clearing House (ACH) makes Direct Deposit of payroll, business-to-business payments, e-Commerce payments, Federal, state, and local tax payments. 

The ACH Network is a batch processing, store-and-forward system, governed by the National Automate Clearing House Association (NACHA) Operating Rules, which provide for the interbank clearing of electronic payments for participating depository financial institutions.

Transactions received by the financial institution during the day are stored and processed later in a batch mode. Rather than sending each payment separately, ACH transactions are accumulated and sorted by destination for transmission during a predetermined period. This method provides faster and significantly less expensive processing than paper checks. Instead of using paper to carry necessary information, ACH transactions are sent electronically between financial institutions through secure data transmission.

Examples of ACH transactions include:

  • Direct Deposit of payroll, Social Security and other government benefits, and tax refunds
  • Direct payments of consumer bills such as mortgages, loans, utility bills, and insurance premiums
  • Business-to-business payments
  • e-Commerce payments
  • Federal, state, and local payments

ACH Transaction Flow

Originator
Any individual, corporation or other entity that initiates entries into the ACH Network.Example: Company ABC, a Cash Management customer of First Bank of TN, creates a payroll file through Online Banking on Wednesday morning.
ACH Transaction Flow
Originating Depository Financial Institution (ODFI)
Any financial institution that originates ACH entries at the request of his ACH Origination customers. All ODFI’s must abide by the NACHA Operating Rules. Example: First Bank of TN sends Company ABC’s payroll file to the Federal Reserve Bank on Wednesday afternoon.
ACH Transaction Flow
ACH Operators
The Federal Reserve Bank and the Electronic Payment Network act as ACH Operators, the central clearing facilities through which financial institutions transmit or receive ACH entries. Please Note: Neither of these organizations will ever contact an individual or corporation directly.Example: Federal Reserve Bank processes Company ABC’s file on Thursday.
ACH Transaction Flow
Receiving Depository Financial Institution (RDFI)
Any financial institution qualified to receive ACH entries. All RDFI’s must abide by the NACHA Operating Rules. Example: the Bank of Company ABC’s employee receives the payroll file from the Federal Reserve Bank on Thursday afternoon or Friday morning.
ACH Transaction Flow
Receiver
Any individual, corporation, or other entity that has authorized an Originator to initiate a credit or debit entry to a transaction account held at an RDFI. Example: Company ABC’s employee receives direct deposit payroll into his/her account on Friday.

 

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