Cash Management

Cash Management 2017-07-21T10:10:32+00:00

At First Resource Bank we support your success by providing comprehensive cash management services that make it easier for you to manage your day to day cash and meet your long term financial goals.  Our capabilities include online banking access, remote deposit capture, payment solutions (electronic wire transfers, ACH origination, automated sweeps) and more, which are described below. Kelly or Jim will help you identify the best cash management services that best fit your needs.

For questions concerning credit card processing for merchants and other businesses, click here.

Business Online

Business Online provides secure access to your account information from your computer with an Internet connection. With instant access, you can save time and streamline your financial processes. In addition to information reporting, Business Online provides a portal to a variety of cash management services. For your convenience, an online banking demo is available; click here to view. For additional information or to enroll, please contact Kelly or Jim.

E-Statements

Now you can have your monthly statements sent to you at the end of your statement cycle. Sign up through internet banking or by contacting Kelly or Jim.

Remote Deposit Capture

Remote Deposit Capture (RDC) enables businesses to deposit checks electronically rather than physically transporting them to the Bank. With RDC, a business scans their checks and then transmits an electronic file of the check images over the Internet to the Bank. Using RDC, business customers can streamline their cash management function, lower operational and transportation costs, and extend effective deposit cut-off times. Subject to credit approval.

Introduction to Remote Deposit Capture

Bill Pay

Bill Pay allows our customers to spend less time writing checks and more time managing their businesses. With Bill Pay service, you can pay virtually any company, agency, organization, or individual within the United States, schedule recurring payments for monthly bills, set up e-bills and e-mail reminders for bill payments, access reports and manage pending payments.

Note that Bill Pay is a featured part of our consumer internet banking service that also is available to business customers.

ACH Origination

The Automated Clearing House (ACH) system is a network of financial institutions and regional associations that process and settle electronic transactions for their clients; thereby, increasing reliability and efficiency. ACH is an alternative to issuing paper checks that allows transferring more payment information than is possible on a check and is part of our Business Online Suite Product. Both debits and credits can be originated for business-to-business or business-to-consumer transactions. This product is suitable for offering payroll direct deposit to employees, cash concentration of funds from different locations, payments to vendors, and electronically drafting payments from customers or vendors. Subject to credit approval.

Wire Transfer Services

First Resource Bank’s Wire Transfer Services allow you to make fast, verifiable payments nationally. Funds are transferred directly from your selected business checking account to another account. The result is a real time payment. With no check to clear, your payment is credited immediately. Secure wire transfers may be initiated through Business Online banking or in person at our branch.

Credit Line Sweep

Our Credit Line Sweep is an automatic cash management tool that moves funds to where they will help you most. You set an optimum balance for your business checking accounts. Then, on a daily basis, cash in excess of that balance is swept into your active Line of Credit to pay down the balance and interest. Any day the checking balance falls short it is automatically topped up from your Line of Credit so you always have sufficient funds.

Zero Balance Account

Some companies prefer to have a separate account for a designated use such as payroll or accounts payable. With our Zero Balance service, funds are transferred automatically each day to cover the checks that are presented. So, at the end of the day, the subsidiary account is at a zero balance.