To get started with the Modern Treasury implementation, you will need a business bank account as well as the setup for direct transmission (Direct transmission is the ability to move money between your owned accounts or between your accounts and external accounts). We have created template emails that ask for programmatic access to a Sutton Bank account which you can forward on to your respective banker. These templates include three of the five possible payment rails (ACH debit, ACH credit, and wires), assuming you'd like to move forward with maximum flexibility and don't require checks. If you would like to set up check printing and lockbox services, please be sure to reach out to your Modern Treasury customer success manager for assistance.
Please note that ACH debit will require the broadest set of compliance steps from the bank, as it allows you to charge other bank accounts. If you know that you will not be using ACH debit, then we recommend removing it from the emails below.
Once you're in touch with the technical advisor from Sutton, we can help you fill out all the paperwork.
Template for Sutton Bank
We would like to move forward with implementation on transmission and connection with MT. We will need prior day BAI2 files and NACHA return files set up.
We are wanting to implement wires, and also get the process started for ACH (debits and credits). We would like Modern Treasury to receive and submit files via the ACH STP system.