Products
Who is our Merchant Card Vendor? Credit Card Vendor? Lockbox Vendor?
Merchant - TESLA
Credit Card - TCM (Total Card Managment)
Lockbox - TMR - (Technology Managment Resources)
What two payment rails are Faster Payments delivered?
Faster Payments are primarily delivered through two U.S. payment rails:
What are the three ways Business customers can accept payments through Tap to Pay?
• Tap-to-Pay (using a physical card or mobile wallet)
• QR codes
• Payment links
How does a merchant on Tap to Pay handles disputes of a transaction?
Through the app by selecting Merchant and Select Disputes.
What are the 2 third-party vendors we use to help protect customers account balances that exceed the FDIC insurance Limits?
Intra-Fi / R&T
Enables near‑instant movement of funds between a First Resource Bank (FRB) account and an external debit card. Transfers settle within seconds, and completed transactions appear immediately in Banno activity.
What is Rapid Transfer?
Can we send money out through Faster Payments?
No, FRB is currently a RECEIVE-ONLY Bank.
What type of accounts are eligible for Rapid Transfer?
Rapid Transfer is available to all digital banking users, including both retail and business customers.
Are there limits to Rapid transfers?
Pull Funds Limits = (External debit card → FRB account)
External debit card limits
FRB Rapid Transfer limits:
Up to 5 transactions and $5,000 per day
Push Funds Limits = (FRB account → external debit card)
Available balance in the FRB account
FRB Rapid Transfer limits:
Up to 5 transactions and $5,000 per day
This service streamlines accounts receivable processing, eliminating the time wasted on opening mail, processing, and posting payments. We’ll retrieve the mail daily, and process the associated deposits, allowing you to focus on running your business.
What is a Lockbox?
Real‑time payment systems that moves money immediately (or within seconds) between bank accounts, 24/7/365, instead of using traditional batch‑based ACH processing.
What is Faster Payments?
What fees are associated with Autobooks?
What type of accounts are eligible to use Tap to Pay and what app or hardware will be needed to accept these payments?
Business Accounts and Sole Proprietor Retail accounts
No additional hardware or separate payment app is required - the use it directly from their FRB Mobile Banking app
Name 2 benefits of using autobooks?
Create professional digital invoices for free
Accept payment by credit/debit card or bank transfer and you can pass fee to your customer
Keep track of payments made or outstanding invoices
Generate reports like balance sheets, sales tax, and more
No additional software to download
What are the two fraud features we offer business customers and explain the difference between them?
ACH Positive Pay ensures that only ACH transactions from preapproved vendors are posted to the account. First Resource Bank manages vendor settings on approved and blocked lists within the system using the instructions you provided. If a transaction outside these settings is received, it is flagged as an exception.
Payee Name Positive Pay compares the payee, check number and dollar amount of checks presented for payment against the details you previously uploaded. As checks are processed, either through normal clearing channels or at a teller’s window, they are matched against the Positive Pay system. If the check matches the uploaded data, it is paid. If it does not match or is not in the system, it is flagged as an exception. You will receive an email notification to review and decide whether to pay or return the exception item. Alerts can be set up so that you never miss the opportunity to review checks being presented for payment.
You will receive an email notification to review and decide whether to pay or return the exception item. If no decision is made by 10 AM, the item will be returned unpaid.
A tool for business customers that allows you to send invoices, accept payments, and keep track of customers from inside online banking.
What is Autobooks?
Who can enroll in Tap to Pay and how?
Only a business owner or authorized controller may enroll a business.
From their digital banking dashboard, they click Ready to Select Card Payments and then Enroll Now. They will be prompted to enter business details to initiate the underwriting process.
If enrollment is approved, the Tap to Pay permission is activated by default for all the business’s end users. Only a Business Admin can disable a user’s access to it. The Merchant menu now appears in the main menu of the customer’s digital banking portal. Using this menu, end users can begin accepting card payments.
What fees will a customer incur by using Rapid Transfer?
Pull Funds -(From an external debit card into an FRB account)
Fee: 0.75% or $0.50, whichever is greater
Push Funds-(From an FRB account to an external debit card)
Fee: 1.75% or $0.25, whichever is greater
Enables you to deposit checks from the comfort of your office. You can make deposits as late as 7:00 PM for next-day availability of funds. An electronic endorsement is also applied to the back of each check, eliminating the need for manual endorsement or deposit slips.
What is FRED? (First Resource Electronic Deposit)
Services are an ideal solution for businesses seeking a fast, secure, and efficient way to send and collect funds electronically. Best of all, our origination services are completely free, helping you streamline your operations while saving on costs. No monthly service fee; No per-item fee. Daily cut-off time is 4:30 pm on business days
What is ACH Origination?
Allows Business customers to accept card payments using only their mobile device, directly within the FRB Mobile app
What is Tap to Pay?
How can a customer enroll in Autobooks?
When logged into your FRB online banking, look for the tile that reads “Accept Online Payments”.
• There are 2 options you can choose from.
o Send an Invoice—this takes you to Autobooks and helps you prepare invoices, schedules, customer lists, estimates, products, and services pricing, etc.
o Accept Payments now—will allow you to enter payment details, display a QR Code, or share a payment link that you can send to customers so they can pay online.
Are there fees involved in using the Tap to Pay features as a payment source?
Yes - A per-transaction fee is paid by our customer.
(Pricing is disclosed in the Pricing agreement and if updated at any time the customer will need to review the revised agreements before continuing to use the service)
Enable businesses to securely transfer funds without leaving the office. With this convenient and reliable solution, you can manage your transfers with ease and confidence, right from your desktop. As an extra layer of protection, we make outbound calls before releasing these funds.
What is Wire Origination?
What is our stock Symbol and the year we were founded?
FRSB
May 2005