Also known as Automated Reverse Wire, Fedwire Drawdown is a service provided by ACH companies.
The End of NSFs
With Fedwire Drawdown, payroll providers are in complete control: you submit payroll files to us and we virtually eliminate the risk of insufficient funds (NSFs) so you can sleep at night.
Additional Fedwire Drawdown Benefits
- Confirm funds much sooner than standard ACH
- Your clients avoid inconvenience of having to wire funds
- Offer next-day payroll processing without the risk level associated with ACH
- Keep clients on payroll services even if they are a credit risk
- Process high-liability payrolls or payrolls for large clients without taking on the risk of large NSFs
- Process more similarly to the payroll industry giants
What This Means for PTM Clients
According to Anthony Gonzales, Director of Tax Operations: "PTM is excited to offer Fedwire Drawdown as an option for our clients. Direct deposit and payroll tax processing services come with risks, and we like to do what we can in order to help independent business owners to limit those risks."
Summer Poletti, VP of Sales, added: "By PTM offering Fedwire Drawdown to our clients, we're allowing them to operate on a more even playing field with the largest payroll providers in the industry. We aim to help David take down Goliath!"