Cash Management : Treasury Management : Products & Services : Milwaukee : First Business Bank

CASH MANAGEMENT

Allows deposits to be scanned and electronically sent from the place of business.
Scanner is small and easy to install.
Web-based application requires no additional software.
Information can be downloaded into Accounts Receivable software.
Extends deadline for submitting deposits.
Convenient because it eliminates trips to the bank, deadlines for couriers and delays due to mailing deposits.
Eliminates need to hold deposits.
Provides an opportunity to consolidate bank accounts (eliminates maintenance and reconciliation expenses).

Ability to set up scheduled transfers to consolidate funds into First Business Bank from other financial institutions.
Set up transfers through Automatic Clearinghouse (ACH) for specific dates, days, or collected balance criteria.
May use Internet Banking for this service.

Access to number of checks and total dollar amount clearing same day via Internet Banking.
Able to manage borrowings based on inclearings; no need to borrow excess funds to cover checks.
Eliminates overdrafts.

Order initiated to transfer funds from another financial institution to First Business Bank.

Converts receivables into available cash more quickly and efficiently.
Payments mailed directly to central lockbox location where they are deposited and credited on the same day received.
Streamlines collections by eliminating the need to prepare deposits and take them to the bank.
More efficient processing accelerates the availability of funds.
Increase in available cash can mean a reduction in interest expense on a loan, an investment opportunity or a reduction in bank fees.
The time saved can free staff for other responsibilities within the business.
Receivables are processed in a secure, controlled environment.
Deposits are processed according to client specifications by specialized processors who are familiar with lockbox payments.

Money management -- maximize interest earned and minimize loan interest paid.
Sweeps set up based on client specifications: automatically, by day, date, excess, deficit, zero balance, or three way.

Process debit or credit files.
Initiate payroll/direct deposit.
More efficient with no checks to reconcile and no stop payments necessary.
Less expensive than issuing and reconciling checks.
Less expensive than wire transfers.
Settlement of funds within one day of origination.
Access via Internet Banking using NACHA formatted software or bank purchased software.