Cash Management

ACH Origination

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 delivery 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 5 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

 

Wire Transfers

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
  • Eliminates the need for additional security features such as call backs, or email requests
  • 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

 

Business Sweeps

  • 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.

 

For questions regarding our cash management services, please fill out the form under contact us and a bank representative will be in touch.