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Disbursement Solutions

CIT provides flexible disbursement services to help your business optimally control payments and business expenses.

CIT's disbursement solutions

Making payments to vendors or suppliers, paying employees, and controlling business expenses all require flexible disbursement services. We offer a complete array of disbursement solutions that will help keep funds working on your behalf while helping control your administrative costs.

Service descriptions

ACH services

Create one-time or recurring electronic transfers to accounts of other companies or individuals directly from your business account via our Automated Clearing House (ACH) services. These services are a convenient, low-cost, and flexible way for your business to make payments and receive funds.

Business bill pay

Pay bills online at any time, day or night, from the convenience of a secure online banking web portal. Enjoy the convenience of viewing, paying, and receiving bills online, all in one central location.

Controlled disbursements

Eliminate the guesswork of cash forecasting by receiving early morning notifications of funding requirements for that day's check clearings. This solution helps you to more effectively manage your cash flow, optimize the use of available funds, and reduce uncertainties associated with check clearing forecasts. 

Gift card solutions

Provide customers with a convenient and safe payment card to increase loyalty and spending. We offer two types of gift cards: closed loop and open loop cards. Closed loop cards are merchant-specific and must be used for transactions exclusively at a particular merchant's location. Open loop cards are associated with and bear the logo of an electronic payment network such as Visa ® or MasterCard ® and are honored wherever these networks are accepted.

Pay cards

Pay employees their payroll direct deposit through a convenient debit card. Our payroll card is a MasterCard® -branded prepaid general purpose reloadable card that allows you to offer direct deposit to your employees who do not have a checking account or who do not want their pay deposited into their existing bank account. The card enables the company to move toward a fully electronic payroll. 

Wire transfer services

Securely and efficiently send funds within the U.S. or internationally to ensure timely payment of your obligations. Wire transfers are the most expedient and secure method to transfer funds from your CIT business accounts to other financial institutions. Wire transfers eliminate the wait time associated with checks or ACH transactions. Initiate wire transfers from the convenience of your office through our secure Business Online Banking website.

Commercial cards

We have teamed with Elan Financial Services to offer the One Card, a single, streamlined payment solution for your purchasing and corporate card programs. Use of the One Card ensures employees' access to goods, services and cash around the globe anywhere Visa ® is accepted - eliminating the need for more costly alternatives such as petty cash or cash advances.  

Detailed transaction data is captured on every purchase and companies can manage their accounts online 24/7 through Elan's Access Online website .  

The One Card can be fully integrated with electronic expense reporting platform systems providing valuable information to help monitor travel and expense spending and aid in vendor negotiations. The One Card integrates transactions with one process, one staff, one card issuer and one invoice. Companies are empowered to merge separate card solutions, increase efficiencies and decrease costs across all platforms.

Contact us today

Our mission is simple: to understand your business banking needs and challenges, and provide customized solutions to help you improve your financial operations, generate efficiencies, and increase profitability. Learn how we can help.

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Solutions you can trust

CIT’s treasury management products are provided by CIT Bank, N.A.