Treasury / Cash Management
Our experienced treasury management team can provide the tools your business needs to effectively manage your cash flow. Services offered include electronic collections and disbursements, timely information controls, fraud mitigation and liquidity management.
Contact the treasury management team to learn more about how easy it is to manage your finances with the help of State Savings Bank.
|Molly VanderHorn can be reached at (231) 360-3665 or e-mail.||Noah Windbacher can be reached at (231) 399-0445 or e-mail.|
Online Treasury Management
Online account management is easy with State Savings Bank’s online treasury management, also known as online cash management. Businesses can manage all of their accounts, create electronic payables and receivables, mitigate risk and generate reports—all from a single location. They’ll get comprehensive, up-to-the minute information quickly, from balance reports to payment solutions. A clear view of their cash position throughout the day can help them make informed investment decisions and better manage their working capital.
With online treasury management, they can:
- Access an integrated payments platform. In one place businesses can manage, monitor, and report on payments. They have the flexibility to initiate ACH transactions, wire transfers, and account transfers.
- Manage receivables quickly and easily. Access same-day images of check deposits through RDC and manage ACH collections.
- Control exceptions to help reduce fraud. Decide on positive pay exception items, view information on returned deposits, and originate stop payments.
- Manage liquidity. Through information reporting, businesses can view opening, closing and interim balances, determine their cash position, and make decisions on investments and transfers.
Businesses save the time and the expense of writing, processing, mailing, and reconciling checks. Electronic Automated Clearing House (ACH) payments is ideal for recurring payables such as payroll, expense reimbursements, vendor payments, pensions, taxes, and child support. ACH is also useful for one-time payments.
Businesses can convert their receivables into working capital quickly. With automated clearing house (ACH) collections, they can eliminate the slow and time consuming process of collecting and processing recurring payments from customers. Collecting items through ACH also means fewer errors compared to traditional check methods.
State Savings Bank’s online wire transfers provide a reliable, secure method for transferring domestic or USD international payments. Dual approval and dollar limit controls provide added protection against fraud.
With Remote Deposit Capture (RDC), a business can capture their receivables and make deposits to their State Savings Bank account from anywhere they do business. By connecting a scanner to a local PC and securely accessing the web-based solution, it allows a business the ability to scan checks and easily transmit balanced deposits to State Savings Bank, with a click of a button.
Benefits of Remote Deposit Capture:
• Retain control over deposits
• Easy-to-use system simplifies personnel training
• Later deposit deadlines provide greater flexibility to make same-day deposits
• Quicker access to your receivables leading to improved working capital management
• Minimizes inconvenient trips to the bank.
Positive Pay Services
State Savings Bank can provide businesses solutions that help protect their organization against check and ACH fraud. All suspect items are reported to you promptly through daily email alerts, with details easily accessible via online cash management.
- For checks, we employ advanced methods for comparing check-paid items against issue information to identify discrepancies and ensure that only the checks you issue are paid.
- For ACH, the business determines who has access to electronically debit their account.
Businesses can maximize excess balances when we “sweep” their available funds to an interest bearing account or a Line of Credit.
- NOW Sweep. A NOW Sweep transfers the excess funds from an Analyzed Checking account into a NOW interest-bearing checking account. Businesses can use the NOW Sweep if they want an investment vehicle that acts like a NOW account, but want to maintain a balance to cover service fees in their primary operating account.
- Line of Credit Sweep. Sweep funds in excess of the target balance out of an Analyzed Checking account to offset a loan amount. The Line of Credit Sweep can be set to pay down and advance balances. Line of Credit Sweeps can help businesses reduce interest expenses and cover outstanding debt.