The cash management services at Lafayette Savings Bank can help you collect your cash quicker, disburse it in a timely fashion, and manage it while you have it.
Collection
Remote Deposit Capture - Our newest Cash Management product, Remote Deposit Capture is a web-based check image capture, storage and processing solution that enables
you to deposit paper checks electronically.
ACH Services - The Automated Clearing House (ACH) is a funds transfer network of regional associations (many operated
by the Federal Reserve), inter-bank associations and private sector processors. ACH provides a safe,
efficient method to move collected funds on a next-day basis without the expense of paper check stock or a
wire transfer. Money can be moved to and from any financial institution that participates in the ACH
network. Once approved, businesses can use ACH
functions to initiate:
- single or multiple transactions
- direct deposit entries
- ACH receipts
- cash concentration entries
- NACHA files created on other ACH software
- certain types of Federal and State tax payments
Disbursement
CD Images - Check storage has long been a necessary component of the account reconciliation process, but one that has
caused many frustrations. We have invested in equipment to alleviate that burden for our customers by
providing images of paid checks on a CD-ROM.
Positive Pay - Positive Pay is a fraud prevention tool that assists with the identification of unauthorized checks before they
are posted to your commercial account. Examples of unauthorized checks include counterfeit or altered
checks. Our Positive Pay service includes account reconciliation services.
Control
Online Banking - Your business is your baby...and no one helps take care of it better than we do.
We’re a local business owner just like you and we understand the pressures
and opportunities you face running the show. This service
provides exciting capabilities like information reporting and electronic funds transfer services that will enable you to manage
your account the way you want - anytime, anywhere! Click here for our demo.
Non-Profit Interest Checking has been specially
designed to meet the needs of some of our largest depositors - not-for-profits and governmental entities.
This account offers high short-term rates and has an optional sweep feature.
Mutual Fund Sweep - Our Mutual Fund Sweep service allows you to earn interest and maintain your commercial checking account at the peg balance that you and your banker select. At the close of each business day excess funds are automatically swept (on a next day basis) from the account and invested in an institutional mutual fund allowing you to a competitive yield on your short term cash. You may choose from any of the following types of money market mutual funds: Commercial Paper, Government, Treasury or Tax Free (National or State Specific).
Zero Balance Account - A Zero Balance Account (ZBA) is a business checking account that maintains a set balance at all times.
The balance maintained could be zero or any other balance desired. ZBAs allow customers to consolidate balances so that they can be used for investment or to pay down loans.
Contact Jeff Love, CTP at 765.429.2946 for more information and to determine which solutions are right for you.
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