The Basics
What is the function of managing cash and liquid assets as efficiently and effectively as possible?
What is Treasury Management.
What is the function where businesses manage incoming and outgoing cash flows as efficiently and effectively as possible, including collections, disbursements and concentration?
What is Cash Management.
What service is used when a business wants to offer direct deposit of payroll for employees or collect payments from their customers?
What is an ACH.
What service allows a business to conveniently deposits their checks from their office?
What is RDC (Remote Deposit Capture).
What service allows for the secure transportation of cash?
What is Courier Services.
What term refers to the ability to pay obligations when due for a business?
What is liquidity.
What provides specifics about who made the payment, for what amount, and for what purpose in order to provide critical details to businesses for accurate accounts receivable posting?
What is Remittance Information.
What is the electronic transfer of funds from one institution to another domestically or internationally?
What is a Wire Transfer.
What service allows businesses that receive a large number of payments or receive monthly recurring check payments typically via a PO Box to process them through a third party service?
What is Lockbox Service.
What services allows for the secure transportation of large volumes of cash via armored car?
What is Cash Vault Services.
What is minimizing investments in non-earning cash resources while providing liquidity?
What is Cash Optimization.
What are 1.) cost, 2.) speed of collection, 3.) security of the payment, and 4.) availability of remittance data?
What are the things for a business to consider when determining the right collection system to purchase.
What service is used when a business provides advance notification of check payments issued to matched against checks processed or presented for payment?
What is Positive Pay.
What is it called when a payment begins as a paper item but is converted to an electronic payment?
What is ACH Conversion.
What service is typically used by small business customers to pay bills online?
What is Business Billpay.
What is it when businesses identify, measure, analyze and mitigate financial exposure?
What is Risk Management.
What is the practice of researching and reconciling exception items such as unexpected bank charges, missing deposits and uncleared checks known as?
What is a daily cash management function.
What service allows a business to determine which checks will post to their bank account each business day, ahead of time, so they can fund the account depending on those needs?
What is a CDA (Controlled Disbursement Account).
What service allow customers to receive data about remittance transactions (invoice #, P.O. #, etc)?
What is ACH EDI Services.
What services allows businesses to download paid items, reconcile in their accounting system and notify the bank if any of the items should be returned?
What is Reverse Positive Pay.
What is the function where financial institutions manage external partners known as?
What is Vendor Management.
What are the industry standard set of codes that most financial institutions use to deliver current and prior day reporting?
What are BAI (Bank Administration Institute) codes.
What type of automated service is designed to help eliminate manual transfers, reduce idle cash and prevent overdrafts?
What is a ZBA (Zero Balance Account).
What service prevents all ACH activity from posting to an account, which can prevent unauthorized electronic transactions from occurring?
What is ACH block.
What is an online fraud mitigation service that allows customers to manage ACH debits and credits posting to their accounts?
What is ACH Positive Pay.