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:

• Wire Transfers

• Balance, rate information and other account-specific information

• History of transaction details or postings on accounts

• Transfers between related accounts or to other approved accounts

• A text copy of the account statements

• Displays transaction-detailed activity on the account

• View postings

• View images of your checks

• Reconcile accounts

• Create stop payments

• 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).

• 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:

• 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.
  
  

• 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
  
  

• 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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LOCKBOX PROCESSING
This service is used to expedite the collection of your company’s receivables. Advantages associated with the lockbox operation are:

• Eliminates in-house deposit preparation
• Reduces company accounting costs
• Reduces mail time and costs

• 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

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