News & Events

ACH Payment Processing

Wednesday, May 25, 2016

Tokio Marine HCC – Stop Loss Group is continually working to improve our services and capabilities. We have again found a way to make our Automated Clearing House (ACH) payment processing the quickest and most secure in the industry. Effective immediately, Tokio Marine HCC - Stop Loss Group and Paymode-X through Bank of America Merrill Lynch have partnered to create a streamlined process where administrators can set up policyholders with direct access to Paymode's ACH reimbursements. Money flows directly to the policyholder and the administrator gets a nightly summary report of all payment activity with direct access to any explanation of reimbursements (EORs) processed through Paymode.

Why choose Automated Clearing House (ACH) payment processing?

  • Utilizing an ACH payment allows your clients to receive payment much faster than with a paper check.
  • Any current client of Paymode can be added to the Tokio Marine HCC – Stop Loss Group’s Paymode with no additional paperwork or signing requirements.
  • New Paymode clients can enter their banking information directly into Paymode and relieve any liability from the administrator by “holding or entering” banking information.
  • The ACH is a secure, private electronic payment transfer system that connects U.S. financial institutions.
  • Administrators get detailed daily reporting along with archive history to access and manage ACH reimbursements to policyholders.