PAYSTUB
The Payroll Industry eNewsletter from Atlantic Capital Bank 
4th Quarter, 2015 

 
Atlantic Capital Bank Public Listing
On Monday November 2, 2015, Atlantic Capital Bank became a publicly-traded company listed on the NASDAQ exchange under the ticker symbol ACBI. We are proud of this milestone in our Company's history and thank our clients and constituents for helping us achieve this accomplishment. We look forward to continuing to be the premier provider of ACH services to the Payroll Industry and offering world class service, financial strength and focused expertise.
US Interest Rates and Economic Data
Financial Instruments
Today
(as of 11.2.15)
1 year ago
1-month Libor
0.19%
0.17%
6-month Libor
0.46%
0.36%
1-year T-bill
0.37%
0.12%
5-year T-bill
1.57%
1.63%
10-year T-bill
2.20%
2.36%
US Unemployment rate
5.1%
5.9%

*Current and historical rate data taken from the
Federal Reserve Board (federalreserve.gov)
You Can't Always Get What You Want
Nathan Ottinger
SVP, Payments Industry Banking
You can't always get what you want.
But if you try sometimes, you might find,
You get what you need.

-The Rolling Stones
 
Atlantic Capital Bank works with numerous payroll service bureaus across the US in support of their ACH processing needs. The nature and timing of processing ACH files for our clients create ACH risk, primarily in the form of non-sufficient funds (NSF) risk.

Our clients ask us about ways to help mitigate this ACH NSF risk when processing direct deposit and tax disbursement files. Our primary response to this question is to review and discuss the type and breadth of due diligence that a payroll company completes as part of its client onboarding process. We recommend that a payroll firm collect and evaluate at least the following items prior to providing direct deposit services for clients:
  • Client office visit
  • 3 months of bank statements
  • Google search on business
  • Copy of owners' driver's license
  • Company incorporation documents
  • Credit bureau report on owner
  • Financial statements/tax returns
  • Social network search on owners
  • OFAC search
  • Guaranty agreement
It's important to review this information with a critical eye instead of just stuffing it into a file to meet onboarding requirements. This due diligence review gives you the opportunity to assess if a potential client poses undue risk before you take on the relationship. If a client does have an NSF incident after the onboarding process has been completed, we recommend requiring your client to send updated financial and bank statement information for your review.
 
The most common push back that we hear from payroll firms about collecting due diligence information during the onboarding stage is that it slows down the sales cycle, or that competitors are not collecting this much information. To that, we ask: how much was your last client NSF incident, and how long did it take to resolve?
 
We welcome your thoughts and comments.
Upcoming Events
Mark your calendar for the following upcoming events in the Payroll industry:

February 22 - February 24, 2016
Independent Payroll Providers Association (IPPA) - Sales & Marketing Conference
Las Vegas, NV

April 17 - April 20, 2016
NACHA Payments Conference
Phoenix, AZ

April 19 - April 21, 2016
Electronic Transaction Association - Transact 16
Las Vegas, NV

May 10 - May 14, 2016
American Payroll Association (APA) - Annual Conference
Nashville, TN

May 11 - May 13, 2016
The Payroll Group (TPG) - Annual Conference
San Antonio, TX

September 21 - September 23, 2016
IPPA Business Excellence Conference
New Orleans, LA

October 4 - October 7, 2016
HR Technology Conference & Exposition
Chicago, IL
Contact Us
Nathan Ottinger
Payments Industry Banking
(404) 995 - 0223


www.atlanticcapitalbank.com
Member FDIC. Equal Housing Lender.