Payables Management

Keep your cash working.

Positive Pay

Guarding your account against check fraud is a top priority of your company and Old National. The best protection against counterfeit and altered checks is our Positive Pay service. Positive Pay lets you import a file to Old National via BankConnect™ Plus, notifying us of a check issuance.

Each day, we’ll match the check issue file to the checks clearing your account and provide an online report that lets you view the checks that cleared. Online image viewing allows you to determine if an amount has been altered, a signature forged, or a payee changed.

Benefits

• Reduces exposure to check fraud
• Increases control of disbursements

ACH Tax Payments

Electronic tax filing can save you the time and expense of ensuring your tax payments are made accurately and timely. For this reason, Old National offers ACH Tax Payments through BankConnect™ Plus. Simply register to make payments with EFPTS or your state and you will be able to send federal, state, and payroll taxes through our secure web site.

ACH Vendor Payments

The needs of businesses are constantly evolving – even for your business partners. In order to accommodate their needs, Old National offers you our ACH Vendor Payment capability via BankConnect™ Plus. With this solution, you will be able to electronically pay your vendors – no checks to write and nothing to mail.

Benefits

• Send payments securely via BankConnect™ Plus
• Reference multiple invoices

Cash Disbursement

Liquidity Management is difficult if the geography of your business requires multiple banking relationships. You can manage funds more efficiently by transferring them from your concentration account at Old National. Using Cash Disbursement, you will gain improved efficiencies in your cash flow management, with opportunities to:

• Reduce debt 
• Invest idle cash 
• Simplify accounts payable 
• Protect local depository accounts against overdrafts

Direct Deposit

The ability to offer direct deposit is important to all businesses, large or small. Old National’s Direct Deposit service will give your employees the convenience they want and the savings you need.

With Direct Deposit, you no longer have paychecks to distribute, reconcile or reissue. Direct Deposit is inexpensive, low maintenance, and easy to use – making payroll simple.

Benefits

• Standardize your payables flow
• Simplifies bank account reconciliation 
• Safeguards against fraud and forgery losses
• Reduce time spent printing and distributing checks
• Increase employee productivity by eliminating bank trips on pay day

Wire Transfer

Same-day funds transfer is important – whether in daily business or in an urgent matter. To help you be ready for such situations, Old National suggests our Wire Transfer service via BankConnect™ Plus. You have the power to move funds to their destination quickly, without waiting for a call back from the bank branch, protecting you from fraud and errors.

Benefits

• Real-time domestic or international wire transfers
• Optional security controls, including dollar amount and secondary approval

Directo® Paycard

In a perfect world, you would be able to pay all your employees by direct deposit. Unfortunately, some employees do not qualify for a bank account. Old National has the solution to this common problem: the Directo® Paycard.

The Directo® Paycard is like an ATM card that stores your employees’ paychecks. Like a regular checking account, your employee has online access to their account and will receive a monthly statement. Most importantly, all employees qualify – regardless of past banking or credit problems.

Benefits

• Increase direct deposit participation to 100% – saving your company time and money
• Secure, PIN-based access to funds ensures that your employee's pay is safe
• Employees no longer pay expensive check-cashing fees 
• No foreign ATM fee at any Old National ATM

Corporate Purchasing Card

Efficiency in your purchasing activities doesn’t have to come with increased risk. For maximum security, Old National suggests the Corporate Purchasing Card. Using this card program, you can enjoy the flexibility of offering corporate cards to employees while controlling card limits and usage.

Benefits

• Convenience of the Visa® network
• Single bill streamlines the accounts payable process
• Greater level of expense control than with a conventional credit card
• Custom reports, G/L export, and card maintenance via Visa® Information Source

Platinum Plus® for Business Credit Card

The ability to pay by credit card allows you to hold your money longer, putting it to work for you. Plus, paying by card creates a better audit trail and offers greater protection than paying by check or cash. As an option, you can add rewards to your card so, with every purchase, you will earn points towards travel discounts, free merchandise, and many other perks.

Benefits

• Free online reporting 
• Rewards program available
• Control employee spending
• Extend the length of your payables cycle