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Cash Management Services
Cash flow issues represent some of the toughest
challenges for any business enterprise.
At American Bank, helping you control and maximize cash flow is the primary
function of our Corporate Financial Services Department.
Tied to a commercial checking or savings account, our products and services
can be
customized and coordinated to optimize the availability of your funds. They
are exceptional resources, supplying the information and options you need
for decision-making.
For more information about Cash Management Services at American Bank call:
Cheryl Schwegel
AVP, Corporate Financial Services
651-634-6410
Ellen Pickerign
VP, Deposit Operations Manager
651-634-6472
QUICK LINKS:
ONLINE BANKING
American Bank offers commercial customers various cash management services
via the Internet. Our internet banking system allows you to perform the
following services:
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Wire Transfers
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Balance, rate information and other
account-specific information
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History of transaction details or
postings on accounts
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Transfers between related accounts or to
other approved accounts
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A text copy of the account statements
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Displays transaction-detailed activity
on the account
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View postings
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View images of your checks
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Reconcile accounts
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Create stop payments
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Messenger (This option may be used to
schedule many types of email reminders, including special notices
when an account balance falls below or exceeds a specific level).
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Bill payments (This feature allows you
to schedule payments from any associated account to any company or
person with a U.S. mailing address).
REQUIREMENTS FOR INTERNET BANKING:
Personal Computer with Internet accessibility and a 128-bit encryption browser.
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ACH
AUTOMATED CLEARINGHOUSE
This service provides your company with a cost-effective collection
and/or disbursement method. The following are various types of paperless
debit and credit transactions originated and received by American bank that
may be suitable for your company:
- Direct Deposit Payroll
- Cash ConcentrationDividends
- Debit Entries (i.e. dues, donations, insurance company premiums)
- EDI
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WIRE TRANSFERS
The Wire Transfer System is the fastest and most secure method for electronically
moving collected funds from one bank to another. The wire transfer system
is generally designed for large dollar transactions where time is of the
essence. American Bank also accepts incoming/outgoing International wire
transfer requests. Wire transfer fees will be a hard charge to the account.
$10.00 Incoming
$13.00 Incoming w/call or fax
$18.00 Outgoing non-repetitive with security code
$15.00 Outgoing repetitive with security code
$18.00 Outgoing without security code (limited frequency)
$45.00 Foreign outgoing
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ZERO
BALANCE ACCOUNTS
This type of account includes a Master Zero Balance Account and one
or more checking Zero Balance Accounts (ZBA) i.e. payroll, distribution,
lockbox, etc. During the day, checks, deposits, credits and debits are accumulating
for each ZBA. At the close of business the Master ZBA distributes or collects
funds to/from the ZBA and restores them to a zero balance. Some benefits
accompanying the ZBA are:
- Eliminates time and effort of funding subsidiary account
- Cash concentration of your company funds
- Reduce excess idle balances
- Same day automatic funding of checking accounts
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ACCOUNT
RECONCILIATION PLANS ARP
Account Reconciliation Plans are most beneficial to those customers
who issue a large number of checks. The account reconciliation program takes
the trouble and much of the expense out of the labor-intensive process of
reconcilement. Account reconciliation plans also assist a company in separating
their check issuance process from their reconciling process. The following
account reconciliation plans are offered:
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Full Account Reconciliation
A service which accepts magnetic tape and disk input of issued checks
and provides a complete reconciliation of your Commercial Account. Provides
various reports such as checks issued, checks paid, checks outstanding
and exception reports - $45.00/Month + $0.07 per Item.
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Partial Account Reconciliation
We provide information about paid items on various media; in addition,
reports will provide dollar amount, serial number and date paid - $35.00/Month
+ $0.05 per Item
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Checking Account Statement Download
Companies that currently have an in-house Automated Statement Reconciliation
program may receive daily, weekly or month-end checking information
on a diskette or by data transmission. Prices vary according to volume
and frequency.
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CASH VAULT SERVICES
American Bank provides timely and accurate cash vault services such
as food stamp deposits, coin/currency orders and deposits.
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LOCKBOX
PROCESSING
This service is used to expedite the collection of your companys receivables.
Advantages associated with the lockbox operation are:
- Eliminates in-house deposit preparation
- Reduces company accounting costs
- Reduces mail time and costs
Lockbox Deposit Process:
- Remittance mailed to special PO Box
- Messenger delivers to lockbox processor
- Deposits are processed early morning
- Remittance detail and deposit information forwarded to your company
40.00 Base Charge
$0.10 Copy per Item
$0.28 Per Item |
$5.00/month Daily Deposit Information
Returning invoice and Envelopes Mailed in + Postage
$5.00 Per Phone Advice Call
$3.00 Fax, 1st Page + 0.25 each addl page |
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