Cash Management Services Brochure Details Flashcards
What are the 2 fraud prevention services we offer for cash management?
1) ACH (Automated Clearing House) Debit Blocl
2) Positive Pay
What are the 2 ACH and Wire Services offered for cash management?
1) ACH (Automated Clearing House)
2) Wire Services
What merchant services credit card processing is offered in cash management?
Clover Point-of-Sale
What is Collateralized Sweep?
For Analyzed Checking customers only; excess funds are automatically swept from your Analyzed Checking account and placed in overnight investments that earn interest and are credited to your checking account daily.
What is ACH Debit Block?
A fraud prevention service that controls transactions posted to your account by defining the allowable parameters for authorized electronic transactions.
What is Positive Pay?
A fraud prevention service that provides an electronic listing of the checks you issued and ASB helps monitor the account. If a discrepancy is detected, customer is notified and they decide whether to pay/decline.
What is ACH?
Streamlines accounts receivable, accounts payable, and company payroll by processing them electronically.
What are Wire Services?
Easily transfer funds across the U.S. to pay vendors. Can be set up as a one-time payment or recurring. Same-day availability and minimizes errors.
What is Account Reconciliation service?
Includes Full Reconcilement (managed by ASB), Partial Reconcilement (ASB assists), and Deposit Reconcilement (ASB assists).
What is Business Remote Deposit Capture?
Deposit multiple checks electronically from your office using a check scanner connected to your computer. Ideal for companies with high check volumes and not located near an ASB branch.
What is Data Exchange?
ASB sends a BAI data file to your primary bank to consolidate your transaction information in one electronic file. Ideal for companies who have accounts at multiple banks.
What is Direct Send?
Similar to Data Exchange except ASB sends a BAI data file directly to you instead of your primary bank.
What is EDI (Electronic Data Interchange) Reporting?
Turn company’s information submitted with ACH items, into usable reports. Delivered via Online Banking or secure email.
What is Lockbox/Remittance Processing?
ASB establishes a lockbox so that customer payments are routed to a P.O. Box, processed by the bank, and then funds automatically deposited to an ASB account. Ideal for companies that receive a large volume of customer payments in the mail.
What are Payroll Services?
Accommodates a variety of payrolls and payment methods, including bank checks, direct deposits, and company checks. ASB provides an optional tax filing service, which can assist in preparing/submitting payments for federal/state taxes online.
