Treasury Management

 

Cash Concentration

Cash Concentration1 lets you move or “sweep” funds at scheduled intervals from one or more disbursement accounts to a single concentration account via ACH transactions. By concentrating cash into one account, you have more flexibility for investing, increasing interest income, and daily sales reporting daily sales.

Funds deposited by your remote locations may be transferred to your Treasury Management account(s) with us, regardless of what financial institutions they use. Cash Concentration may also be used to transfer funds from your account(s) with us to remote financial institutions.

 


BENEFITS

 

  • Use your money for debt reduction, investing, or payments on the next business day after a sweep occurs
  • Eliminate idle balances in remote financial institutions
  • Eliminate the time and cost of preparing checks or initiating wires to transfer funds to your account with us
  • Add, edit and approve sweep instructions easily through Business Internet Banking
  • Create custom Sweep History Reporting through Business Internet Banking

 


 

HOW IT WORKS

  • We work with your remote financial institution(s) to set up data exchange if you would like to automate the movement of funds.
  • Sweep instructions are entered through Business Internet Banking. You determine the concentration and disbursement accounts to be used, when the sweep occurs, how it will be released, and what approval is required.
  • The system processes your sweep instructions and creates the sweep transactions. 

1) Subject to credt approval