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Business

Cash Management

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ACH Origination

  • Defined: Electronic transfer of funds between businesses and/or individuals to different accounts through the ACH network.
    • With ACH, funds are typically made available to the recipient the following day but in some cases may be received same day.
  • Common uses for ACH Origination:
    • Payroll
    • Pulling Customer Payments (rent, monthly dues)
    • Vendor Payments (invoices, accounts payable disbursements)
  • Available only in Digital Banking.
  • Files can be uploaded or can be manually entered in Digital Banking.
  • Templates can be created and edited for ease of use.
  • Option for Dual Approval – Permissions can be set so that one user would create an ACH file and another user must verify and submit it to the Bank for processing.
    • Dual Approval is strongly encouraged to utilize this for an additional layer of security and to help avoid errors; however, it is not required at this time.
  • Set various alerts/notifications (requested approval, file processed).
  • Access to reports (historical transactions/files, scheduled files).
  • Files must be submitted to the Bank on a normal business day before 4:00pm CT to be processed that day; customers are encouraged to submit files by 3:00pm CT to avoid any delays or issues in processing.

Merchant Card Services

  • Partnered with COCARD to offer you various card processing options.
  • Additional information available upon request.

Positive Pay

  • Defined: A fraud prevention system that can be used by businesses to protect against altered, forged, and counterfeit checks.
  • Available only in Digital Banking.
  • Customers upload files of their issued checks or enter individual checks as needed.
  • Customers may request specific parameters to be set in our system that could generate additional exceptions (dollar thresholds, check number ranges).
  • Customers must review check exceptions each day (duplicate item, incorrect amount, wrong payee, etc.) and determine course of action in a timely manner.
    • Alerts may be set to notify customers when exceptions have been received; customers are strongly encouraged to setup alerts to handle exceptions in a timely manner.
    • Bank will handle any returns submitted by the customer.

Remote Deposit Capture

  • Defined: A system that allows business customers to scan checks remotely and transmit the images to the Bank for deposit into their account(s).
    • Deposited funds are made available the next business day.
  • Available in Digital Banking or directly through merchant site set up by the Bank.
  • Customers can scan checks 24/7 right from their office using a desktop scanner.
  • Cash Management staff reviews all remote deposits each business day by 4:00pm CT.
  • Various reports are available (search and print specific checks, summary of deposits including images, audit reports, etc.).
  • Ability to set up multiple scanning locations as well as multiple accounts.

Wire Transfers

  • Defined: An electronic transfer of funds made from one bank to another.
  • Customers can send funds quickly and securely; generally, funds from wire transfers are immediate and made available to the recipient on the same day they were sent.
    • For international wires, availability of the funds depends on the location of the recipient and the processes of the financial institution(s) receiving the funds.
  • Processing options available:
    • Domestic (within the US)
    • International in US Dollars
    • International in Foreign Currency
  • Domestic and International US wires are available to process in Digital Banking; foreign currency wire requests must be submitted through secure messaging or delivered to a branch for processing.
  • Wire templates can be created and edited for ease of use.
  • Option for Dual Approval – permissions can be set so that one user enters the wire transfer, and another user must verify and submit to the Bank for processing.
    • Dual Approval is strongly encouraged to utilize this for an additional layer of security and to help avoid errors; however, it is not required at this time.
  • Set various alerts/notifications (wires submitted, approved, being processed, etc.)
  • Wire confirmations available on demand via Digital Banking – customers may download the wire confirmation once it has been processed completely by the Bank.
  • Wire requests must be submitted to the Bank on a normal business day before 3:00pm CT to be processed that day.