Business Additional Services

Account Analysis allows certain business customers to offset their monthly maintenance fee and account activity charges by maintaining compensating balances.

How does it work?

Instead of being debited for activity throughout the month, a running total is kept. At the end of the month, customers receive an easy-to-read statement in which all activities, and the charges associated with those activities, are totaled. Your statement will also detail the average net collected balance and the earnings credit calculated on that balance.

Earnings for Account Analysis are calculated based on the average net collected balance for the month. Earnings credit rates are determined by the previous month’s average 13-Week T-Bill.

Fees

All accounts on Account Analysis will be subject to a monthly maintenance fee. This fee is based on the type of business that you operate and the resulting monitoring requirements based on that industry.

*Assessed to all other businesses not operating as a Money Service Business or Convenience Store

How am I Charged?

Each activity has a set charge for customers on Account Analysis. Charges can be offset for each activity if the required balance to offset that charge is maintained throughout the month. Customers will be debited the maintenance fee and all calculated activity charges, less calculated earnings on the average net collected balance, within the first ten business days of the next statement period.

Service Activity Charges

Other Services

Remote Deposit Capture (RDC) is a cash management service that allows a commercial customer to remotely scan their own checks, automatically convert them into industry standard check images, and electronically transmit them to the Bank as a deposit.

RDC may be a fit for you if your business:

• Accepts paper checks as a form of payment from customers or vendors
• Makes more than two trips to the bank each month to make deposits
• Finds it difficult to get to the bank during regular business hours
• Pays an employee or courier to make bank deposits
• Depends on cash flow for the success of your business
• Owns a computer with internet access

Benefits of Remote Deposit Capture

• Convenient, no-hassle banking saves time and money by depositing checks right from your desktop, anytime it’s convenient for you.
• Improved cash flow means no more checks piling up waiting to be deposited. Frequent deposits reduce the risk of lost or stolen items.
• Reduced liability risk that stems from Workers’ Compensation claims for any accidents on the way to the bank.
• Allocation of funds into multiple accounts with just a few clicks allows you to quickly and easily split a deposit into multiple accounts rather than having to make numerous transfers.
• With no hardware to install and no dedicated computer to upgrade, getting RDC up and running at your business is quick and easy! We provide the check scanner, so all you need is an Internet-enabled PC equipped with a web browser.

How does RDC work?

The system is comprised of a desktop computer with internet access, a small check scanner, and a printer. The secure website operates the scanner, converts the paper checks into electronic images, and ensures the total of the checks scanned balances to the batch total previously entered. The secure website also creates a permanent storage for the check images and provides advanced research capabilities.

Training

After the initial installation, training on how to operate the system properly will be conducted. Periodically thereafter, authorized users will be notified of any changes that have occurred in laws or regulations that pertain to RDC.

RDC Item Processing

Enacted on October 28, 2004, the Check Clearing for the 21st Century Act allowed check images to be exchanged electronically rather than physically transporting original checks. You may not use RDC to deposit prohibited items such as: items that have been altered or forged; items drawn on foreign banks or payable in foreign currency; items without preprinted magnetic ink routing numbers; third-party items or items payable to any person or entity other than your business; or items dated more than six months prior to deposit.

All deposits must be processed by 5 pm, Monday - Friday, excluding Bank holidays.

Getting Started

To find out more about Remote Deposit Capture or the monthly service fee associated with this service, contact our Customer Service Center at 512-321-2561.

More than 30,000 financially healthy small to medium-sized businesses across the United States have discovered that Business Manager is the key to running and growing their business more effectively.

Business Manager puts your operations on an all-cash basis by providing working capital for your receivables from a local bank. By bridging the gap between your accounts payable due now and the accounts receivable your customers won’t remit for 30 days or more, this successful program positions your company to:

• Realize growth opportunities
• Extend credit terms
• Take advantage of supplier discounts
• Reduce debt
• Operate with confidence
• Pay bills timely
• Build strong vendor relationships

With Business Manager, your company also will received detailed management reports with important information on aged receivables, customer balances, credit applications, and more.

Industries that have profited from improved cash flow

Manufacturers

• Lumber & Wood Products
• Industrial & Commercial Machines
• Fabricated Metal Products
• Tool & Die
• Apparel
• Textile Mill Products
• Medical Instruments & Apparatus
• Paper Products
• Furniture & Fixtures
• Rubber & Plastics

Business Services

• Temporary Services
• Staffing Services
• Graphic & Display Designers
• Land Surveyors
• Building Maintenance
• Engineering
• Safety Equipment Services & Supplies
• Technical & Computers
• Support Providers

Wholesale Distributors

• Medical & Hospital Equipment
• Electrical & Plumbing Supplies
• Printing & Publishing
• Paper Products
• Industrial Components & Supplies

Natural Gas & Oil Services

• Water Supply Trucks
• Drilling & Mining Equipment Suppliers
• Fuel Distribution
• Roustabouts
• Vacuum Truck Services
• Well Testing & Servicing
• Safety Equipment & Training

Transportation & Trucking

• Heavy Trucking & Hauling
• Light Trucking & Hauling
• Movers

Automotive Services

• Tire Dealers
• Automobile Parts
• Auto & Truck Repair & Service

How would improved A/R timing impact your cash balances?

For every day your business could improve its turn of accounts receivable, you could increase your average cash balance by $5,000.

Imagine converting your existing receivables into cash in as little as 24 hours. Then you would be managing cash rather than waiting for your clients to pay.

Cash flow is fundamental to every business and managing it can be stressful. Business Manager helps alleviate that stress by funding your invoices the next day, making your business more successful and your nights more restful.

Is Business Manager right for you?

The best way to find out is by talking briefly with one of our Business Manager specialists. Within a few minutes, you’ll know if the program is right for you.