If you are a PEO or ASO using Prism HR, you can now take advantage of our Fedwire drawdown transfer service. Drawdowns help to eliminate the possibility of NSFs without holding up delivery of your management fees.
The Best Part
With Cachet Financial Services, your management fees will go directly into your account without delay and we will process the direct deposit.
With other ACH direct deposit payroll processors, you will have to wait at least one day and possibly up to 5 days, depending on the day of the week.
What Are Drawdowns?
Fedwire drawdowns virtually eliminate the risk of insufficient funds (NSFs) so you can sleep at night.
With our Fedwire drawdown service, you just submit all ACH payroll processing files two days prior to payroll (by 8pm ET/5pm PT) and each drawdown Fedwire transfer will be automatically performed, which is why we call it "automated reverse wire."
Get Started Today
Contact your Prism HR rep to start using our drawdown service today, or reach out to us and we’ll walk you through how to use it.