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Disbursement Tools

Money Movement Options

ACH Services

Moving money is safe and efficient through Automated Clearing House (ACH) Services from Lake City Bank.

  • Transmit same day if desired
  • Eliminate paper check and wire transfer fees
  • Count on secure, accurate processing of each file
  • Create transactions in Lake City Bank Digital
  • Send files easily through Lake City Bank Digital or automated file transfers

Instant Payments

When you send money with Instant Payments in Lake City Bank Digital, your payments are sent, received and settled instantly, 24/7/365. Instant Payments’ two-way communication links your payment and payment data together for more efficient transactions.

Integrated Payables & AP Automation

Simplify and streamline your accounts payable processes with Integrated Payables and AP Automation.

This solution helps businesses manage payments more efficiently by combining check, ACH, and virtual card payments into one streamlined process while also improving visibility, control, and accuracy across your AP workflow.

Benefits

  • More efficient payments — Send payment instructions directly to your bank for timely disbursement while maintaining better control over your cash flow.
  • Simplified processing — Manage check, ACH, and virtual card payments in one consolidated file.
  • Lower costs — Reduce check printing and mailing expenses by shifting more payments to electronic methods.
  • Revenue opportunities — Increase the use of rebate-earning virtual card payments and create potential revenue-share opportunities.
  • Enhanced controls — Consolidating multiple payment files reduces errors and fraud risk.
  • Easier vendor management — Vendor enrollment for virtual cards can be managed for you, saving staff time and increasing vendor acceptance.
  • Maintain existing banking relationships — Maintain current ACH relationships without disruption. Payment instructions are routed to your existing providers.

AP Automation Capabilities

  • End-to-end automation — Automate key steps from invoice receipt through payment, including approvals and matching.
  • Accounting system integration — Connect with your existing accounting software to reduce manual data entry and simplify reconciliation.
  • Improved visibility — Access reporting and insights that help you monitor cash flow and make informed financial decisions.
  • Pay everyone in one place — Pay vendors, employees, and 1099 contractors from a single platform.
  • Flexible payment methods — Support for ACH, check, physical cards, and virtual cards gives you options that fit vendor preferences.
  • Greater accuracy — Automation reduces human error and increases consistency in your payables process.

How It Works

  1. Your business submits a single payment file.
  2. Instructions are securely routed to the appropriate payment channels.
  3. Payments are delivered to vendors.
  4. You receive consolidated reporting for easier tracking and reconciliation.

Contact your Corporate and Institutional Services Sales Officer at (844) 979‑7164 to see how Integrated Payables and AP Automation can streamline your payment processes.

Lake City Bank Digital Bill Pay

Lake City Bank Digital for Business lets you manage your business 24/7 from anywhere. Use Bill Pay to easily disburse funds without writing checks, schedule payments and include invoice information with your payments.

SurePayroll

With SurePayroll you can access your payroll account 24/7 from anywhere. Once you enter payroll information, the rest is handled, including payroll taxes, paying employees and providing W2 and 1099 forms. In addition:

  • Adjust employee hours and pay rates every pay period
  • Provide free direct deposit and employee access to online pay stubs
  • Take advantage of our comprehensive federal, state and local tax filing service
  • Get unlimited support from U.S.-based payroll experts

For more information and a demo, visit the SurePay link below.

SurePayroll Information

Controlled Disbursement

With Controlled Disbursement, you receive check clearing information in Lake City Bank Digital when checks clear (and before they post), so you can better calculate your daily cash position or take advantage of borrowing and investment opportunities.

Treasury Management Services and the fees associated with them are subject to the terms and conditions outlined in your Treasury Services Proposal with Lake City Bank. Contact your Corporate & Institutional Services Officer or call our support center at (844) 979‑7164 for more information.

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