Accounts Receivable
Simplify your accounts receivable with UMB
Unlock your business cash faster with effective accounts receivable management solutions, from wire transfers and online payments to lockbox processing and ACH capabilities.
Strategic insight
We review your unique business needs and help you streamline and accelerate daily cash flow, and strategically plan for the short and long term.
Comprehensive solutions
We are a full-service bank with treasury, deposit and lending solutions that allow you to effectively and efficiently manage your liquidity.
Responsive service
At UMB, your business is not just a number. We get to know you, your goals and your values so we can be a partner throughout your business lifecycle.
Business receivables management
Take control of your accounts receivable with UMB’s suite of treasury services.
Wire transfers
Our experience and technology can help you move money quickly, securely and efficiently. Online, real-time reporting gives you greater visibility into your incoming funds.
ACH processing
Our treasury management professionals will work with you to determine the ACH payment applications that can save you the most money, time and effort. ACH services are subject to credit approval.
Lockbox processing
Our efficient lockbox service provides expanded processing times, flexible reporting options and advanced equipment for increased accuracy. We can customize your processing to meet your specific needs, including medical payment lockbox.
Remote deposit capture
For businesses with high check volume, UMB’s remote deposit service lets you make check deposits from your office with improved accuracy and access to features like electronic check conversion, online reports and remittance processing.
Mobile deposit capture
With our mobile deposit for business, you can deposit checks payable to you whenever you receive them using your Android or Apple mobile device. It’s a fast, secure, cost effective and convenient way to manage incoming funds via check. Connect with your UMB representative to get started.
Online payments
We provide online payment processing services for credit card and ACH transactions. UMB’s service will integrate with your website to authenticate customers and process payments with daily reconciliation files and automatic account deposits.
NACHA Rule Changes
ACH Rules Compliance Audit Requirements - Effective January 1, 2019
This rule will change the structure of the audit requirement within the rules but does not change the requirement to conduct a rules compliance audit annually. Review NACHA’s website
for more information on these rules.
Faster funds availability - September 20,2019
Funds from Same Day ACH credits processed in the existing, first processing window will be made available by 1:30 p.m. RDFI local time
Funds from non-Same Day ACH credits will be made available by 9:00 a.m. RDFI's local time on the settlement date, if the credits were available by 5:00 p.m. on the previous day
Dollar limit increase - March 20,2020
This new rule will increase the per-transaction limit for Same Day ACH transactions from $25,000 to $100,000New Same Day Window - March 19, 2021
This new rule will create a third Same Day ACH processing window that expands Same Day ACH availability by 2 hours
This change to the NACHA Operating Rules will enhance quality and improve risk management within the ACH Network by allowing RDFIs to indicate within a return that the original transaction was questionable or part of anomalous activity
Large non-FI Originators, Third-Party Service Providers and Third-Party Senders will be required to protect deposit account information by rendering it unreadable when it is stored electronically.
Implementation will occur in two phases based on transaction volume.
- Phase 1 - Effective June 30, 2020 for Originators and Third-Parties with ACH Volume greater than 6 million in 2019
- Phase 2 - Effective June 30, 2021 for Originators and Third-Parties with ACH volume greater than 2 million in 2020
Supplementing Fraud Detection Standards for WEB Debits - Effective January 1, 2020
Currently, Originators of WEB debits are required to use a "commercially reasonable fraudulent transaction detection system" to screen WEB debits for fraud.
This requirement will be supplemented to make it explicit that "account validation" is part of a "commercially reasonable fraudulent transaction detection system".
This requirement will apply to the first use of an account number, or changes to the account number.
