ACH Payments Page 6 of 8
| Managing Participants | ACH Templates |
To add a new participant, you must enter the following:
Participant Name – Participant name used for bank withdrawals or check cashing.
Identification Number – 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.
Financial Institution Name – The financial institution where the participant will receive the payment.
Financial Institution Routing number (Fed ABA number) – The most critical piece of bank information is the Fed ABA number, which is the electronic routing number used by the Fed to remove funds from your Alaska USA business checking account into the participant’s bank account.
Bank Lookup – helps locate the correct ABA number. To look up a bank, enter the name and state. Click “Search” and the lookup will return with a list of bank branches and ABA numbers that meet the selection criteria you submitted. Review the list, select the correct branch, and click the “Auto-Fill” button.
Tips:
- The more information you provide, the shorter the returned list. If you enter Alaska USA FCU, approximately 50 different branches will appear on the list. However, if you also entered Anchorage, AK, you’d get far fewer returns.
- If you can’t find the beneficiary bank in the Bank Lookup, it could be that an intermediary bank is involved. This happens when the beneficiary’s financial institution is too small to have its own ABA number. In such cases, the wire must be sent to an intermediary bank. Please call the Member Service Center at 563-4567 or (800) 525-9094 if you need to send a wire through an intermediary bank.
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.
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.