Cash Management Services
We know how important it is to make the best use of your cash through effective monitoring, tight record keeping and increased efficiency. Our automated cash management services allow you to generate interest income, minimize idle balances and improve deposit gathering.
- Corporate Investment Account
- Repurchase Term Investments
- Direct Deposit Payroll Service
- Internet Banking / Bill Pay Service
- Zero Balance Account
- Account Analysis
- Merchant Services
Corporate Investment Account
Invest excess funds from your business checking account into an overnight account that is collateralized with government agency securities. Each day, your account's ending balance is reviewed to determine if there are discretionary funds to invest and those funds are swept into an overnight investment account. Similarly, if funds are needed in your Business Checking Account, the appropriate amount will be swept into your account. This account increases the return on your working capital while improving your method of cash management. The interest rate changes daily and the account is not FDIC insured.
Repurchase Term Investments
An alternative to the overnight sweep account, excess balances are invested into a term account that is collateralized with government agency securities to maximize the rate of return. The account is not FDIC insured.
Direct Deposit Payroll Service
Give your employees the convenience, reliability and safety of having their paychecks deposited directly into accounts they specify. We will process your computerized payroll data and deposit net pay amounts each pay period. By administering your payroll in this way, you will reduce internal costs and eliminate the need to print, prepare, sign and distribute paper checks.
Internet Banking / Bill Pay Service
Manage your cash and accounts from your desktop, maximize interest income and simplify reporting and account reconciliation. You can transfer funds to cover anticipated debits, draft customer accounts for pre-authorized payments, initiate ACH or wire transfers, pay bills and vendors or even pay your payroll - all with just a few clicks of your mouse.
Zero Balance Account
Make the most of your discretionary funds by creating maximum cash flow for investment or operational needs. A primary account is identified to serve as the master depository/funding account, which is the central point for all transactions. Secondary accounts are also created, which serve as disbursement and depository accounts. Each day, the secondary accounts are brought to zero balances and the funds are placed into the primary account, thereby consolidating earning or buying potential. FDIC insured up to the maximum amount allowed by law.
Account Analysis
Put your non-interest-earning balances to work in a way that saves on service charges. An analysis of your business checking account is made each month as to the earnings balance and the level of activity. For more information, your account representative will be happy to discuss your specific situation.
Merchant Services
Credit card acceptance is offered through our affiliation with a third party provider. Please ask your account representative for more information on this service.
