Cash Management

Cash Management

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Business Mobile Deposit App:

  • Deposit paper checks using Smartphones and Tablets
  • Deposit checks into multiple accounts
  • Deposit more than one at a time
  • Allows multiple users
  • Provides audit trails and detailed reporting

ACH Origination

ACH origination is a batch oriented electronic funds transfer system that provides interbank clearing of electronic payments.

Uses of ACH Origination:

  • Direct Deposit (Payroll, expense reimbursements)
  • Direct Debit (debiting payments due to your company from your customers such as recurring monthly installment bills)
  • Business to Business Payments
  • Cash Concentration

Remote Deposit

Remote Deposit allows you to deposit checks from your business location, essentially providing a teller function at your fingertips.

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Once you receive the check from your customer, simply log in, create a virtual deposit ticket, scan the check(s), and upload the electronic images to the bank for clearing and depositing to your account.

Features of Remote Deposit:

  • Access one or multiple deposit accounts, 24 hours per day, 7 days per week*
  • Extended cutoff times beyond branch hours
  • Deposit as many times as you’d like throughout the day
  • Research details of past deposits
  • Detailed reporting and CSV download capability for upload to an accounting system
  • Earlier detection of fraudulent checks
  • Lower risk of lost or stolen checks
  • Employee security – no more leaving the office every day with a bank bag

Online Wire Transfer

Online Wires allows transmission of wire transfers, one time or recurring, electronically through the Cash Manager tab of internet banking.

Features of Online Wire Transfer:

  • No forms / no fax
  • Transmitting securely through internet banking
  • E-mailed confirmations
  • Personal call-back confirmation from operations
  • Recurring wires can be stored for ease of future use

Positive Pay

Positive Pay is a check verification system that matches checks issued by your company with Inclearing checks through Federal Reserve or transacted at our teller line, dramatically cutting Check fraud loss risks.

How Positive Pay Works:

  • Company uploads a check issued file in CSV or Fixed Position format through the Cash Manager/ARP menu of internet banking. File includes: check date, check # and amount. The payee can be included but is not part of the matching service.
  • Checks come in for payment
  • The bank compares the checks presented to the checks issued file the company provides
  • Exception alerts are e-mailed to the company if there are any exceptions
  • Customer reviews the exceptions and pays according to the customer decision

ACH Positive Pay

ACH Positive Pay is similar to Positive Pay in that it is a fraud detection service for ACH/electronic incoming debits.

How ACH Positive Pay Works:

  • Bank places an ACH Debit Block on the company’s account
  • Company provides the bank with a list of all company names that are permitted to debit monies from the customer account
  • If an incoming ACH is not in the permitted list provided, the company will receive an exception to allow the debit or to return it.

Merchant Card Services

Merchant Card Services provide companies the ability to process credit and debit cards at the point of sale, in a restaurant, through mail order or telephone order, internet, or mobile.

Pricing options include:

  • Flat Rate
  • Tiered
  • Interchange Plus

Optional services include:

  • Electronic Benefits Transfer Cards (EBT)
  • Electronic Check Service with verification and/or guarantee
  • Recurring Payments (requires software vs. terminal)
  • Gift Cards
  • Loyalty Cards

Other features and benefits include:

  • Electronic Benefits Transfer Cards (EBT)
  • Electronic Check Service with verification and/or guarantee
  • Low-cost equipment purchase vs. long term lease
  • Risk Management and Fraud Controls
  • Automated and live tech support through our network, First Data, 24/7/365
  • Online reporting and support tools

Benefits of merchant card services include:

  • Increased sales
  • Reduced risks
  • Lower operating costs
  • Greater customer loyalty
  • Expedited Accounts Receivable

Log into Merchant Connect