For most organizations receiving donations as electronic payments is often more efficient and therefore cost effective than processing paper checks.
Specific benefits of using ACH standardization include:
- Built in validation for ACH input to reduce errors during payment
- Tracking and visibility of the user that entered the ACH data
- Support for internal user error alerts during scheduled payments if ACH data appears invalid
External payee information collection
CyberGrants uses a payee record to determine who should receive funds. You can expose these fields to the organizations so that they may enter it themselves and confirm its accuracy. This will appear as a new payee section that can be added to your grant applications, gift confirmations, impact reports, and organizations profiles.
While many clients have previously collected ACH details on organization or request custom fields we have now added The standard payee fields to centralize ACH management include:
- ACH Deposit Authorization Agreement
- Bank Account Type
- Bank Routing Number
- Bank Account Number
- Bank Name
- Bank City
- Bank State
- Bank ZIP Code
- Bank Country
- Bank Contact Name
- Bank Contact Phone Number
- Bank Contact Email Address
If an organization selects to include ACH information for US based bank, CyberGrants will perform extra validation to ensure that all mandatory fields - i.e. authorization, account type, account number and routing number - have been entered correctly.
Internal payments process for ACH
Payment Type Flagging
Payment types may be explicitly tagged as "ACH" and this will enable additional validation when a user goes to save a payee against a payment. If they try to save a non-ACH payee against an ACH payment type then the system will return an error that brings their attention to the mismatch.
Payee Created By Info:
Payees will clearly indicate the user name, date, and affiliation (i.e. organization or administrator) that created the payment. This enhancement is meant to address one of the most common support questions that we receive.
ACH Validation Status:
Payees will clearly indicate the validation status of ACH information they contain. "Validity" is measured by complete and accurate ACH authorization, account type, routing number, and account number. If the client utilizes pre-note then this will be factored in as well.
Payment Type Mapping Rules
CyberGrants rules engine intelligently selects the appropriate payment type during gift batching. It can take into account criteria such as ACH eligibility and also include other items such as payee country, program, currency, etc. When an organization has both paper and ACH payee options, the ACH payee will be given special priority.
ACH Pre-Note Pilot
CyberGrants is also piloting a pre-note process that can confirm with the bank if the ACH information provided are valid and then update the ACH eligibility of the payee accordingly. Once the pilot is completed clients may work with their account management team to enable a pre-note process with their bank if that is a service that they offer.
Back to Payments and Disbursements
Back to Homepage
