Why Automate Customs Payments with Periodic Monthly Statement (PMS)?
Ready to streamline your customs payments into a single automated monthly installment? Make the switch to a Periodic Monthly Statement (PMS) account through Automated Clearinghouse (ACH).
Juggling individual customs payments through the course of a month gets complicated. Managing capital, cutting checks, and timing payments to avoid fees and interest takes attention away from other pressing tasks. Monthly payments with PMS offer a more convenient solution.
Monthly Automated Payments – No Checks Needed
PMS fully automates payments for duties and tariffs. Once your organization has registered, you can count on a once-monthly withdrawal reflecting the total due for all cleared goods from the previous month. No paperwork, no missed payments — just convenience. You can still view daily statements for all entries to track totals due.
Avoid Interest and Fees on Late Customs Payments
Late customs payments can result in fees and interest that stack up quickly. PMS eliminates interest altogether. And it reduces the chance of late payments by condensing all charges into a single installment. PMS automation ensures that payments are processed on time.
Extra Time for Payments
While conventional duty payments are due within ten days of a shipment clearing customs, PMS installments offer at least a two-week window from clearance to processing. Your PMS payment will go through on the 15th business day of the month following the month of cargo release. For instance, if Customs and Border Protection (CBP) releases your shipment on September 15, duty payment will be due October 21.
Sign Up for ACH
Before you can take advantage of PMS, you will need to register with CBP’s Automated Clearing House (ACH). This online payment portal offers secure transactions and hosts PMS. Once you have created your account, Scarbrough will submit a PMS application on your behalf to ensure an exact match with customs documents. Once the application is approved, your business is set for convenient monthly tariff and duty payments. Questions? Contact Scarbrough International for more insight.