Maximum Asset Management Account

A Maximum Asset Management Account is a sophisticated cash management sweep service that automates transfers between various accounts to optimize your cash flow.

Benefits

• Minimizes your interest expense on a revolving line of credit
• Maximizes your income through investment in a mutual fund sweep account

One example:

Lockbox

Wholesale Lockbox is a collection system that receives, processes, and deposits mail receipts and associated checks. Wholesale lockbox procedures are customized to provide exactly what you need (i.e., photocopies of checks, data capture, etc.). Deposits are made early in the morning to maximize check clearings while remittance data and check information is available for account receivable posting later that afternoon. If the data capture option is utilized, accounts receivable information is manually key-entered and reports are generated in paper format or transmitted electronically via data transmission or diskette.

Benefits

• Improves cash flow position
• Decreases check clearing time
• Reduces clerical costs
• Improves internal control-separates receipts and posting functions

B.O.B. Business Online Banking Enhanced

B.O.B. Enhanced provides cash management services available in a module format for additional fees. Modules included ACH Origination, Wire Transfers and Positive Pay.

Benefits

• 24-hour banking convenience
• Secure environment
• Exports transactions to popular software
• Convenient and inexpensive way to pay transactions electronically
• Power Pay online bill payment services
• BAI file format
• Electronic Data Interchange (EDI)
• On-line wire transfers

Minimum Requirements

133 Mhz Pentium Processor, 32 Meg Ram, 33.6 kps Internet Connection, Windows 95 or greater. Explorer 4.0 or greater or Netscape Navigator 4.0 or greater or Netscape Communicator 4.7 or greater.

ACH – Automated Clearing House

ACH is an electronic transfer system, which enables a company to initiate electronic debits (receivables) or credits (payables) with one-day availability. This system can be accessed by using B.O.B. (Business Online Banking).

Benefits

• Increases efficiency – electronic processing vs. paper processing
• Increases security – Fed transmissions use encrypted lines for security
• Reduces expenses and improves convenience
• Increases reliability – transactions are totally predictable
• Reduces processing costs
• Reduces reconciliation and cash application costs (ACH credit)
• Increases availability of funds (ACH debit)

Night Deposit

Night deposits are credited the next banking day.

Courier Service

Cash and deposit carrying courier services are available on a tiered pricing system. Please ask for details.

Positive Pay

Positive Pay is one of the most sophisticated cash management services available. In this process, the company and bank work together to detect check fraud by identifying items presented for payment that the company did not issue. The company transmits a file of issued check information to the bank each day. The bank matches serial numbers and dollar amounts of checks presented for payment against the issue file, and pays only those checks that match. Exceptions are conveyed to the company for disposition.

Benefits

• Highly effective defense against check fraud
• Multiple layers of security
• Inexpensive compared to potential losses from fraud
• Allows management intervention on questionable checks

Sweep Accounts

A Sweep Investment Account is an investment service that transfers funds in excess of an agreed upon target collected balance into a variety of overnight investments. Required funds are swept back into the company’s demand deposit account as needed to cover daily disbursements. A prospectus will be provided so that details of this account can be evaluated.

Benefits

• Inproves control over cash flow
• Maintain liquidity while earning maximum rates
• Provides minimal risk at competitive rates
• Increases additional income

Sweep Funds

• First Fidelity Cash Sweep Account
• U.S. Government Sweep Account
• Tax Exempt Sweep Account

*The products offered are not FDIC insured. Products are not deposits, or other obligations, or guarantees of the bank, and are subject to investment risks, including the possible loss of principal amount invested.

Target Balance Account

Target Balance Account (TBA) maintains a specified balance through an automated transfer between your company’s master account (i.e., general account, operating account, etc.). Target Balance accounts are sometimes called Zero Balance Accounts or ZBAs.

Benefits

• Eliminates monitoring and manually transferring funds from collection or to disbursement accounts
• Provides maximum control over balances and funding
• Eliminates idle balances in non-interest bearing accounts
• Eliminates more costly funding methods (i.e., wire transfers, internal transfers)