When it comes to paying vendors and employees, traditional check payments are giving way to more efficient and cost-effective electronic payment solutions. To make sure your business is taking full advantage of these innovations, our Treasury Management Team will evaluate your payment requirements and then work with you to find the best solutions that meet the needs of your accounting staff.
The Automated Clearing House (ACH) system provides a low-cost electronic transfer network governed by the National Automated Clearing House Association (NACHA). Using our online banking platform, you can take advantage of web-based security and technology to expedite and facilitate your ACH payments. Our ACH system streamlines payments and collections while improving productivity, so you can manage and automate activities including direct payroll deposits; tax, bill or loan payments; dues or subscription collections; and concentrating funds from multiple accounts.
Enhance your cash conversion cycle by increasing both payable days and working capital. Increase your understanding of company spending through better tracking and data management to improve cost savings and controls.
Use wire services to transfer funds through our online banking platform, quickly and efficiently, domestically or internationally, in virtually any currency. Wire transfers offer same-day availability of funds, and confirmations are provided through a variety of methods for your convenience. Our platform allows you to define multiple levels of secure initiation and approvals, accommodates single and high-volume disbursements, and supports free-form, templated or imported wires.
With zero balance accounts, checks are written, disbursements are made, and the net balance is transferred from a concentration account. The multi-tier zero balance account allows you to create account relationships to accommodate your internal accounting needs. Funds can be transferred automatically to concentration accounts tied to a master account.
The Business Bill Pay Service allows you to view, manage, and pay bills online, 24 hours a day, seven days a week. Multi-user entitlements let the person in charge of the finances delegate tasks to appropriate employees. Customized reports track multiple monthly and stand-alone payments to suppliers, contractors, and taxes. All this helps keep everything running smoothly.