Disbursement Solutions

ACH Credit Service Benefits

• Reduce costs associated with printing, signing, distributing, reconciling, and storing checks
• Simplified accounting by no longer needing to maintain idle balances or a separate payroll account
• Eliminate the possibility of lost, delayed, stolen, or forged checks
• Increase employee productivity since employees no longer need to leave work to deposit checks
• Provide a service many employees and vendors have come to expect

How does ACH Credit Service work?

• Prepare your ACH file and submit either via Commercial Online Banking or Commercial Center Delivery.

Would my business benefit from ACH Credit Service?

Yes, if your business:

• Wants to streamline payroll or vendor payments and reduce exposure to check fraud
• Want to eliminate costs associated with maintaining and reconciling a separate payroll account
• Has employees who travel frequently and/or go to the bank on company time to deposit their paychecks
• Seeks quicker settlement of payments to other businesses

Integrated Payables Benefits

• Improve efficiencies by sending one Accounts Payable file for multiple items
• Possible rebates for Virtual Card spending

How does Integrated Payables work?

• The Integrated Payables platform takes information from your Accounts Payable system and  automatically processes different kinds of payments (checks, ACH, card transactions and more)
• You can ask your vendors to enroll and provide their information to easily make or collect payments

Would my business benefit from Integrated Payables?

Yes, if your business:

• Wants to streamline payments and reduce exposure to check fraud
• Seeks quicker settlement of payments to other businesses

Pay bills through your Commercial Online Banking without having to write a check. 

Wire transfers allow you to send or receive money from anywhere in the world through an electronic transfer of funds. Both individuals and businesses can send a wire transfer and funds are available the same day if sent from a domestic bank. Because a wire transfer is an electronic transfer of funds, funds sent are considered “collected” and are available immediately upon receipt.

Can I send and receive wire transfers for my business?

We are dedicated to helping your business run smoothly and efficiently. That's why we offer a variety of ways for your business to send and receive wire transfers including: 

• Calling and initiating a wire transfer over the phone
• Stopping in the Bank in person
• Online through Commercial Online Banking

How do I receive a wire transfer?

To receive a domestic wire transfer, provide the sender’s financial institution with the following information:

• Your name
• Your account number
• Merchants Bank’s routing number: 091900193
• Merchants Bank’s wire processing address:
  Merchants Bank, NA
  102 East Third Street
  Winona, MN 55987
• Merchants Bank’s phone number: (800) 944-6285

To receive an international wire transfer, provide all of the information requested above, plus the Merchants Bank SWIFT Code: MENTUS44.

How do I send a wire transfer personally?
You can send a wire transfer by coming to the bank in person or calling us on the phone at (507) 457-1170. A wire transfer agreement must be filled out in order to complete a transfer. An agreement can be obtained from our Wires Department.