4.5.24
Michigan Treasury Change Affects Some Business Members
Consumers business services
Do you have business banking questions? Contact our knowledgeable commercial loan officers.
The State’s use of a new ACH processor means business members using Positive Pay may need to take action to ensure their tax payments go through.
Some Consumers business members recently received a notice from the Michigan Treasury about a change in ACH transactions for business tax payments. Here’s a quick overview of the change, who it affects and what you need to do—if anything.
Michigan Treasury Online is changing their ACH platform
On April 13, 2024, Paymentus will replace PayConnexion as the payment platform for business taxes through Michigan Treasury Online (MTO).
Who the change affects
Only businesses that use Positive Pay (a fraud detection tool that matches disbursement details at the time of an ACH payment) to make Automated Clearing House (ACH) tax payments are affected.
What your business needs to do
If your business doesn’t use Positive Pay you don’t have to do anything.
If your business uses Positive Pay do the following to ensure your tax payments go through to Michigan Treasury:
- Log on to online banking for your business account, select the Positive Pay service.
- Update your account settings under ACH Rules. Enter the Company ID that identifies JP Morgan Chase as the approved processor of your MTO payment. The number is: 0000408976
- Update your account by April 13.
What happens if I use Positive Pay and don’t update my account in time?
If you’re a Positive Pay user and don’t update the processor number, debits for ACH tax payments attempted after April 13 will still post to your account. However, you’ll receive a notice that the debit was processed, and you’ll have an opportunity to approve or return the transaction as an exception before the processing cutoff time at 11 a.m. If the business does not decide exception items by the cutoff, the system will default to the previously selected “pay” or “return” default.
Need help?
If you need help updating your Consumers business account settings, call Darci or Lori at 800-991-2221.
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Consumers business services
Do you have business banking questions? Contact our knowledgeable commercial loan officers.
