Electronic payments overview

Electronic payments and transfers are fast, low-cost methods of moving funds from one person or company to another person or company. Through UltraBranch Business Edition, your business can take advantage of online ACH payments, federal tax payments, and wire transfers.

Some processes involve the use of federally-governed tools which are used by the Federal Reserve Bank and other financial institutions nation-wide. These include the Automated Clearing House (ACH), the Electronic Federal Tax Payment System (EFTPS), and Fedwire®.

ACH payments

Bill Pay

Bill Pay is fast, easy and secure. Make payments to anyone quickly, with one-day payment options for many companies. Bill Pay works with your Alaska&nbps;USA checking account. You access it through Ultra Branch Business Edition and it's easy to set up. There is a $5.95 monthly service charge for unlimited transactions.

Stop Payment

A Stop Payment Order is a request where a member instructs the credit union to refuse payment on an unpaid check or a pre-authorized debit which the member previously authorized.

A stop payment order may be placed on any unpaid check electronic check (preauthorized draft), or preauthorized debit (ACH) prior to the payment posting. Once a payment has posted, it cannot be "stopped". Stop Payment Orders received before 10:30 p.m. Alaska time will be effective immediately. Orders received after 10:30 p.m. may be effective the following calendar day. This Stop Payment Order will be in effect for two years. If this stop payment is for a temporary check (counter check) and you have received more than one set of temporary checks, all checks with the number you enter will be stopped.

If you placed a Stop Payment on a blank check(s) and later locate it, be sure to release the Stop Payment Order before you use it. The stop payment fee is waived on Stop Payment Orders placed through Ultra Branch Business Edition.

To stop preauthorized debits, please contact the Member Service Center at (800) 525-9094 or (907) 563-4567 or visit a branch office.

Tax payments

Wire transfers

Transfers

You can transfer funds to other accounts using Ultra Branch Business Edition. There is no maximum in the amount that you can transfer when the accounts are under the same name and tax id number or when you have set up consolidation.

You can transfer funds to another member's Alaska USA checking, savings, money market, or loan account using Ultra Branch Business Edition. Access the "Transfer Funds" tab in UltraBranch Business Edition to enter the last name, account number, and account type of the recipient. The maximum aggregate dollar amount per transfer is $2,000.00 per day.

Limits and Approvals

To help you maintain control over your budget, all electronic payments are subject to company and user specific limits. It is very important to review electronic payments pending approval on a regular basis.