Running a business is tough enough without having to worry about banking headaches. That’s why Bank Independent offers a suite of treasury management solutions designed to make your financial operations more efficient. In this post, we’ll highlight some of our services that can save you time and money.
ACH Services
ACH stands for Automated Clearing House, and it allows you to easily process direct deposits, vendor payments, and customer collections electronically. This eliminates the need to deal with paper checks and mail float. Key benefits include:
- Streamlined payroll with direct deposit
- Easy electronic vendor invoice payments
- Automatic customer billing and collection
- Reduced errors and faster processing compared to paper checks
Bank Independent also offers Same-Day ACH for extra fast transfers.
Remote Deposit Capture
No more trips to the bank just to deposit checks! With Bank Independent’s remote deposit capture, you can scan checks right from your office computer or mobile device and transmit the funds electronically.
The desktop version is great for high volume check deposits, providing easy reporting and same-day funds availability for deposits made by 8 p.m. on weekdays. You can also use mobile deposit for lower volume deposits up to 25 checks per month.
Domestic and International Wire Transfers
When you need to send money immediately, wire transfers are the way to go. Bank Independent offers convenient domestic and international wire transfer services with same-day processing for wires submitted by 4 p.m. on weekdays.
You can initiate wires securely through online or mobile banking and add an extra layer of security with out-of-band verification. International wires are available in over 130 currencies to more than 200 countries.
Positive Pay
Positive Pay helps protect your accounts from fraudulent checks and ACH debits. You submit check or ACH payment details to the bank ahead of time. When a transaction is presented for payment, Bank Independent compares it to your pre-approved list. Any discrepancies get flagged for you to review and approve/decline.
This gives you powerful protection against counterfeit checks or unauthorized debit attempts. You can easily manage exceptions online or via mobile.
Lockbox Services
For businesses receiving high volumes of customer payments by mail, a lockbox service accelerates receivables processing.
Bank Independent offers flexible lockbox options with same-day processing and reporting. Checks, invoices, and other documents are processed, deposited, and stored securely. Useful features include customizable AR file downloads, missing remittance processing, and medical EDI 835 support.
Automated Sweep Services
Sweeps allow you to automatically transfer funds between Bank Independent accounts on a scheduled or as-needed basis. This helps maintain target balances, prevent overdrafts, and keep accounts organized.
Bank Independent provides a complete array of solutions to optimize your business banking workflow. Contact our treasury management business experts today to discuss your specific needs and how we can help your business thrive.
About Bank Independent
Since 1947, Bank Independent has taken pride in serving the customers who count on us to be there for them when they need us most. With 30 traditional Sales Offices across North Alabama, an on-campus Deshler Tiger Branch, and the Digital Sales Office, we’re committed to providing the best service, designing the most desired products, and creating an overall excellent experience for each and every customer. As a local community bank, we believe in building relationships that run deep and last. All our team members reside in our local communities and believe in giving back through volunteering. To become part of a bank that makes a positive difference in people’s lives, visit us at bibank.com.
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