Bee On Trade

PMS (Periodic Monthly Statement)

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The Automated Clearing House (ACH) Payment Option by CBP

What is the Automated Clearing House (ACH) payment option offered by CBP?

The Automated Clearing House (ACH) payment option by CBP allows importers to make a consolidated electronic payment for customs charges, tariffs, and taxes.

How does the periodic monthly statement (PMS) work with the ACH option?

The PMS allows importers to make a single interest-free electronic payment for customs charges on shipments cleared the previous month, specifically on the 15th working business day.

What potential benefit does the ACH and PMS option offer to importers?

Importers using the ACH and PMS option can improve cash flow by eliminating the need for transactional payments of customs, taxes, and fees.

Who is eligible to register for the periodic monthly statement (PMS) payment option?

Importers with an active ACE account can request the PMS payment option.

How can importers qualify for the ACH and PMS option if they don't have an ACE account?

Importers without an ACE account can qualify for the ACH and PMS option through Beeontrade, which holds an ACE account.

What are the steps to register for the periodic monthly statement (PMS) payment option?

To register for PMS, importers should inquire about the option and request it if they have an active ACE account.

How does the ACH and PMS payment option benefit importers' cash flow management?

Importers can benefit from improved cash flow because they no longer need to make individual payments for customs charges, tariffs, and taxes on a transactional basis.

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