With this type of account, deposits and loans can be combined in order to eliminate monthly maintenance fees.
What is a Relationship Checking Account?
100
This capability allows customers to accept payments from both consumers and businesses through the internet or in-person.
What is Merchant Services (Credit Card Collections)?
100
This is the most popular way to dsburse funds... and the labor intensive.
What is writing checks?
100
A customer can effectively manage excess funds by using online banking to transfer money to this type of account.
What is a Money Market Account?
100
These can be accessed for up to 60 days from the Bank's Online System.
What are check images?
200
This service is provided free of charge for all of our Business Checking Accounts.
What is Online Banking?
200
This is the deadline for submitting files through Remote Depsoit for same-day credit.
What is 6pm?
200
This service is a very efficient and cost-effective way to initiate regular monthly payments electronically.
What is Business Bill Pay?
200
This is the dollar amount that signals a new tier of invesment rate for our sweep investment alternatives.
What is $1,000,000?
200
A good cash manager should do this everyday.
What is login to Online Banking?
300
These are the monthly transaction limits for Small Business Checking & Relationship Checking in order to avoid per item fees.
What is 150 items for Small Business Checkng & 500 items for Relationship Checking?
300
This service is an efficient way to process B2B payments without devoting resources for opening mail and preparing deposits.
What is Wholesale Lockbox?
300
These are 2 alternatives for a customer that has experienced check fraud on an account.
What is implement Positive Pay?
What is Close The Account?
300
A Net Investor will maximize its interest income by implementing this automated service.
What is an Overnight Investment Sweep.
300
A Net Borrower should use this service to minimize its interest expense... as long as the company is credit worthy.
What is a Loan Sweep?
400
This type of account would eliminate the weekly online account transfers between an Operating Account and a Payroll Account.
What is a Zero Balance Account?
400
A retailer will use this cash management service to consolidate funds electronically from multiple locations.
What is ACH Cash Concentration?
400
A credit decision is required for this type of electronic payment initiation.
What is ACH Initiation?
400
This is the calculation used to determine what the Bank pays on any idle balances that are not swept into an investment product... it has not changed in a couple of years.
What is the Earnings Credit Rate?
400
Fees from Account Analysis Statements are charged to customers on this frequency?
What is quarterly?
500
This can be calculated for a Business Solutions Checking Account so that a customer can not be charged analysis fees.
What is a target balance?
500
Float from check deposits creates this phenomenon - which can be a healthy source of fee income for the Bank
What is Uncollected Funds?
500
These are the 2 primary differences between ACH Payments and Wire Transfers.
What is availability of funds (same-day vs. next-day)?
What is per transaction cost?
500
THese are the 2 primary differences between the Repo Sweep & the Master Note Sweep... one leads to the other.
What is Repo is collateralized while Master Note is not?
What is the interest rate?
500
This Online Banking functionality assists customers with streamlining repetitive payments.