Frequently asked questions about ACH Origination.
Morton Community Bank offers Automatic Clearing House (ACH) Origination through our Business Online Banking. Please contact a member of the Business Services Team to discuss how ACH files can be used to streamline money movement and boost efficiency.
What is the deadline for completing my file?
All files must be completed by 3pm the business day before you want the transactions to be effective. For example, if your employees should receive their pay on Friday, you must complete the process by 3pm Thursday. In certain circumstances, Same Day ACH can be utilized to process a file. Same Day ACH files have an extended deadline of 12:30pm on the day of delivery. Please contact a member of our Business Services Team to take advantage of Same Day ACH Origination.
I made a mistake on my payroll file. How can I fix it?
If you already clicked on the "Complete ACH" button, it is no longer possible (in most circumstances) for you to stop or alter the ACH file. Please call the Business Services HelpDesk at 309-284-1293 as soon as you are aware of a problem.
What settings are required in my financial program to create a NACHA direct deposit file?
After signing an Agreement with Morton Community Bank to originate ACH entries, you will need to set up certain entries in your financial software to produce NACHA (National Automated Clearing House Association) formatted files... also known as ACH files. NACHA is the governing body of the ACH network. While exact wording may vary slightly, in most cases the terms and fields below will be available to you. If you have been creating NACHA files using a previous bank’s information and switched your banking relationship to Morton Community Bank, you will need to modify the following information:
Immediate Destination:
071000301
Destination Name or Immediate
Destination Name:
Federal Reserve Bank of Chicago
Immediate Origin:
071123204
Immediate Origin Name:
Company Identification:
Your company's EIN
Entry Description:
The purpose of the deposit or debit
ie. ABC Payroll or ABS Club Dues - with ABC being the company or organization name
Originating DFI Identification:
07112320
Receiving DFI:
071123204
Account Number:
Your account at Morton Community Bank
Record Delimiter:
Yes or a checkmark
Balance Entry:
In some software applications, you will find a setting to produce an offsetting transaction. Enabling this option produces a credit or debit equal to the entire file amount to balance your account at Morton Community Bank. The option may also be called Offsetting Debit, Offsetting Credit, Offsetting Entry, or Balance Entry Offsetting Transaction. This option must be enabled. Further, the question may also be asked in a reverse way, such as asking if you want to produce an out of balance file. You do not want to produce an out-of-balance file. You should always create a balanced file.