Adding a new ACH participant

To add a new participant, you must enter the following:

Participant Name – Participant name used for bank withdrawals or check cashing.

Identification # – This is a required field, but can be any identifier you choose (employee ID, for example).

Participant Scope – This field is only present for participants that are part of the managed participant list. Selecting User Scope makes this participant available only to the current User, while Business Scope makes the participant available to all Users that can create an ACH.

Bank Name – The financial institution where the participant will receive the payment.

Routing #– The most critical piece of information is the routing number, which is the 9-digit number used by the Federal Reserve to transmit funds from your Alaska USA business checking account into the participant’s financial institution.

Bank Lookup – helps locate the correct routing number. To look up a financial institution, enter the name and state. Click “Search” and the lookup will return with a list of financial institution branches and associated routing numbers that meet the selection criteria you submitted. Review the list, select the correct branch, and click the “Auto-Fill” button.

Tips:

  1. The more information you provide, the shorter the returned list. If you enter Alaska USA FCU, approximately 65 different branches will appear on the list. However, if you also entered Anchorage, AK, you’d get far fewer returns.
  2. If you can’t find the beneficiary financial institution in the Bank Lookup, it could be that an intermediary financial institution is involved. This happens when the beneficiary’s financial institution is too small to have its own routing number. In such cases, the wire must be sent to an intermediary financial institution. You will need to contact the beneficiary financial institution to obtain the information. Once you have the information, enter it under the "Beneficiary Bank Info". The financial institution where the account is located will be entered under the "Bank to Bank Information" section.

Account number – The account where the participant would like the payment deposited.

Account type – Refers to the participant’s account – checking or savings.

Complete the required fields and click “Save Participant” to review your information. Choose “Save Participant” again to add this person to your list of Managed Participants.

Saving the Participant Info

Complete the required fields and click “Save Participant” to review your information. Choose “Save Participant” again to add this person to your list of Managed Participants.