Cash Management
REMOTE DEPOSIT CAPTURE
Remote Deposit Capture allows you the freedom to do what you do best. run your business! Eliminate the daily hassle of trips to the
bank that cost you time and money.
- Scan and submit check deposits quickly and efficiently from the comfort of your own office
- Expedite collection of check payments by making check deposits through out the day
- Make deposits to your account 24/7
- For companies with offices in various locations, you can now have all of those deposits scanned into one account.
ZERO BALANCE ACCOUNTS (ZBA)
Establish a more efficient and easier way to manage your accounts. Your money can automatically sweep to and from your designated account to or from your other business accounts.
- Transactions are presented through out the day and the account is automatically replenished nightly to a zero balance 1
- Excess funds are swept to the designated account nightly to maintain a zero balance
- Easier to reconcile and keep track of transactions posting to your accounts
- No need to worry about keeping up with account balances or manually transferring funds to cover outstanding transactions
TARGET BALANCE SWEEP
Increase the earnings potential by automatically transferring excess funds from your business checking account in to your Savings or Money Market account.
- You set the target balance for your business checking account - you have the freedom to set your minimum and maximum balance
- Receive the benefit of Competitive interest rates
- Automatic sweep of excess funds out of your account daily
- FDIC insurance up to $100,000/depositor
INVESTMENT SWEEP 2
Receive the maximum rate of return by investing your hard earned money into an Investment Sweep nightly. Earn higher interest rates and still have access to your money the next business day.
- Four established investment funds to choose from
- Earn higher interest on funds
- Allows businesses to earn interest on excess money normally sitting in a business checking account
- You set the target balance for your business checking account - you have the freedom to set your minimum and maximum balance
- Automatically sweeps excess funds to your chosen investment nightly
- Automatically transfer funds back to your business checking account if needed nightly
POSITIVE PAY
Public Savings Bank wants to give you an easy solution to daily business checking reconciliation. To be part of your success, we want to give you back valuable time and money.
- Access Positive Pay online through our Internet Banking and receive email notifications of checks presented nightly that do not match your checking register
- Compares daily check issuance with current paid checks; provides a daily list of exception checks for approval or refusal
- Freedom from waiting on the bank to contact you, inform you of exceptions and the burden of calling back with your decision
- You have the control of your own account on your own time 3
- Expedites account reconciliation, increasing staff productivity
ESCROW ACCOUNT MANAGEMENT
Ideal for attorneys, real estate professionals, funeral homes and those who handle client funds accounts. Free up your time with simplified record keeping and tax reporting. Escrow management offers benefits to help you consolidate unlimited individual client escrow accounts into a single, flexible, easy-to-use master checking account.
- Tracks all sub-account transactions on your consolidated monthly statement
- Establishes an Audit trail
- Provides timely, accurate information on transactions, balances, interest earnings and closeout balances online through Internet Banking
- Freedom to process your transactions through Internet Banking-no more calling the bank, requesting balances, stating whether to withdrawal or close-out sub account and waiting on confirmation call
- Automatic completion of IRS Form W-9
- We mail your customers their 1099 tax form for you
- FDIC Insured up to $100,000 per sub account 4
- Can only sweep available funds from the designated account
- Investment Sweeps are not insured by the FDIC or any other federal government agency, are not deposits of or guaranteed by Public Savings Bank, and may also lose value.
- Bank must receive emailed response back by 1pm in order to efficiently return any checks
- Sub accounts must be established with individuals Social Security or Tax ID number
