ACH Processing – offers a valuable, low cost benefit to a company and its employees by delivering a more efficient, cost effective, time saving way of delivering employee pay.
- Management of transactions between accounts at different banks
- Can be used for payroll processing, expense reimbursement, or other payroll expenses, collection and vendor payments
- Reduces the need for costly payroll checks and envelopes
- Transactions can be manually created, or imported from a payroll software
- Templates are created and saved for each batch
- Reports can be created, downloaded or printed containing batch information
- Employers have an extended window of 6 pm to transmit a batch for next day posting
- Eliminates stop payment fees and reissued checks due to lost/stolen checks
- Pre-authorized direct debits can be used to speed up the collection by increasing cash flow
- Can be set up as dual control
- The ability to set up recurring “set it and forget it” batches
Online Wire transfers allows our business customers a more efficient way to quickly transfer funds to another institution.
- Provides a secure method of issuing the request by utilizing business online
- Simplifies the process by allowing the customer to create a template that can be used for each transfer
- Can be set up as dual control
- Securely initiate outgoing wires with multi-layer security features via token authentication and call-back protocol
- Customers can create reports and view previous transfers
Remote Deposit Capture
Remote Item Processing-this service offers our businesses the ability to capture deposits in their offices, processing centers or branch locations.
- Increases the employees time management by eliminating the need for them to write up the deposit ticket and leave the office to drive it to the Bank
- Increases security as the employees are no longer transporting checks to the Bank.
- Enhances cash flow for the business as the deposits are credited the same day the checks are deposited up to our current cut off time.
- Reduces the risk of a Return Item. The faster the item clears, the faster the customer will be aware of an issue
- Saves the business money by increasing the employees time management
- Reduces the need for expensive deposit tickets
- Gives the customer the ability to create reports
- Increased research abilities by allowing the customer to search for an item for receipt verification
- Eliminates errors in deposits by forcing the deposit to be balanced prior to transmitting it to the bank
- This function can be used by our customers to better manage their cash positions within their accounts.
- A target balance can be determined and set as the maximum/minimum balance of the account. The target balance is set by determining what balance is needed to offset an analysis charge.
- Creates income for the business by leaving the excess balance in the sweep account to earn interest until it is needed.
- Zero Balance Accounts (ZBAs) can be set up to better allow the business to utilize the funds needed for payroll in their operating or interest-bearing account until needed.
Also see Direct Connect to automate and simplify your business banking needs by using Direct Connect for QuickBooks®
For questions regarding our cash management services, please contact: