Cash Management Products and Services

First Commercial Bank offers innovative and flexible Cash Management Products and Services allowing business clients to optimize cash situation, monitor cash position, and maximize cash flow. Cash Management staff collaborate with business clientele to customize the most efficient and effective products and services available.

  REMOTE DEPOSIT
Redefining the “convenience factor” in banking. Allows checks to be scanned and deposited from the client’s desk. Images are transmitted to the bank and deposited the same day.

BENEFITS

• Accelerates Clearing
• Extends cutoff time
• Improves availability
• Reduces return item risk
• Reduces transportation costs

More information on remote check deposit

  ONLINE BANKING
A secure and convenient way to bank from anywhere internet access is available. Allows freedom to transfer between accounts, reconcile bank accounts, initiate stop payments, initiate wire transfers, download transactions to QuickBooks or Quicken, make payroll and estimated income tax deposits, and originate ACH (Automated Clearing House) items.

BENEFITS

• Streamlines routine banking tasks
• Enhances productivity and profitability
• 24/7 accessibility to account information
• Ability to perform cash management activities

More information on online banking

  BILL PAY
A one-time set-up to schedule recurring payments or future payments. Bills can be scheduled to pay weekly, semi-monthly, monthly, quarterly or annually according to specifications.

BENEFITS

• Saves time, money, and postage
• Reduces the use of paper checks
• User friendly
• Secure

More information on online bill pay

  ACH ORIGINATION
Allows recurring debit/credit payments such as payroll, dividends, retirement benefits, and/or accounts payable directly to financial institutions nationwide.

BENEFITS

• Reduces mail costs and float time
• Decreases costs associated with purchasing, storing, and handling checks
• Limits the possibility of lost, stolen, or forged checks

  POSITIVE PAY
A measure of security against fraudulent checks. Business clients transmit an issued-checks file to the bank via online banking. The file is uploaded and compared with the checks-issued file when presented for payment. An exception report is produced for any unmatched items.

BENEFITS

• Identifies unauthorized transactions prior to final payment
• Provides daily notification of exception items

  SWEEP ACCOUNTS
Investment Sweep:  An automatic process of transferring excess funds in checking to an interest bearing account. An individualized target balance may be arranged to best meet a client’s specific position.
Zero Balance Sweep:  A commercial account that is maintained at a zero, or predetermined balance. Excess balances are automatically concentrated into a primary account.

BENEFITS

• Increases interest income and reduce interest expense and fees
• Earn a competitive interest rate on otherwise idle balances
• Eliminates the guesswork of manual analysis and funds management
• Reduces the time spent settling your daily cash position through automatic transfers

  CASH CONCENTRATION ACCOUNT
Control cash and manage funds electronically by moving funds from various subsidiary accounts into one central operating account.

BENEFITS

• Reduces idle balances and increase available funds
• Improves control of company funds

More information on cash management products or call Jenny or Angela at 952.903.0777.