Bank charges automation is the use of software to automatically identify, categorize, and record the fees a bank deducts (account fees, transaction charges, card commissions, financing interest) instead of handling each one by hand. These charges appear directly on the bank statement, scattered among ordinary transactions.
It is a textbook low-value task. Bank charges are small, frequent, and individually trivial, but someone still has to spot each one on the statement, decide which expense account it belongs to, and post it. Across many accounts and entities, this consumes real hours every month for work that adds no insight, only the risk of miscoding or missing a charge.
Automating it frees that time and, just as importantly, gets the charges consistently and correctly booked.
Phacet handles this inside reconciliation. The agent that reconciles bank transactions and detects unmatched flows identifies bank charges on the statement and isolates them from operational flows, while the agent that standardizes and reclassifies accounting data at scale codes each charge to the right account consistently, and the agent that automates French-style account matching keeps the resulting entries lettered. Every posting is traceable through a native audit trail.
Bank charges are too small to chase and too frequent to ignore. Phacet books them automatically and correctly, so the team spends its time on work that actually needs judgment.
