Payment Set Up - Bank Account via ACH

During the Onboarding process, you will be asked how you would like to fund your payroll contributions; via Bank Account ACH, Paper Check, or ACH Push (uncommon). If you select Bank Account ACH, please follow the steps below. 

The recommended method for remitting contribution payments is an ACH directly from your Bank Account. If you select this ACH method, please notify your bank to allow these automatic ACH deductions, following the instructions you can find here.

Note: If you are not familiar with this term, ACH stands for Automated Clearing House. Which is an electronic network for banks and other financial institutions to process financial transactions. Most larger banks and many smaller banks participate in ACH transactions.

For this option, select Bank Account via ACH from the drop-down and click the "Add Bank Account" button.

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There are two options available to provide your bank account and ACH instructions:

  • Direct Bank Connection - In this option, you will enter your online bank account credentials, and we will retrieve your bank account information. MyCTSavings does not store or save your credentials.
  • Enter Bank Information - If you do not use online banking or prefer to enter your bank account ACH instructions manually, please choose this option. Please note: If Plaid does not know about your bank, you will also use this option, which can happen with small regional banks.

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Select the method that you prefer, and click the Continue button.

Direct Bank Connection

For this option, you will need the online banking login credential for your bank account.

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Search or scroll to select your bank.

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If your bank is found, you will be connected and will need to enter your credentials for that account.

Enter the same user name and password that you would use when you log onto your account with your selected financial institution.

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To Manually Enter your Bank Information:

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Please enter your bank account ACH instructions directly into the portal.

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Bank Name - Type the full name of your bank.

Routing Number - The first set of numbers on the lower-left corner of a check is the routing number. Keep in mind the routing numbers are 9-digit codes, and the character symbol surrounding the numbers is not part of the routing number on a check.  Contact your bank for further assistance.

Account Number - Your company's unique account number with the bank.

Re-Enter Account Number - Re-enter your Account Number a second time to be sure the number matches.  To avoid typos, do not copy and paste this value from the Account Number field.

For help locating your bank routing and account number information, consult with your bank for assistance.  You may also be able to identify the required fields by looking at a check for your bank account.  See the example below:

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Once you've completed all required bank information fields, please press the Save & Continue button to proceed.  You will be returned to the Contribution Funding tab.

Your bank name and the last 4 digits of your account number will appear, with a green checkmark, designating your selection of this bank account for use with this payroll schedule. If you have only one payroll schedule, click Save & Continue to move on Add Employees.

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If you have more than one payroll schedule, select your remittance method for each pay schedule.  You may choose different remittance types for different schedules. You may also have different bank account instructions for different pay schedules.     

Continue to select the funding method and add additional bank accounts, if needed. 

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Once you have attributed a remittance method, and, if applicable, corresponding bank ACH instructions for each payroll schedule, click Save & Continue to move on Add Employees.

We hope that you found this article helpful; if you need further assistance, please reach out.