Cash Management Services
Managing your daily cash position is an important aspect of growing a successful business. At PeoplesBank, we understand your financial needs and have designed our Cash Management solutions to help you do so.
Information |
Investment |
Disbursement |
Collection |
Additional Services |
Information
PeoplesOnline Business Banking
With PeoplesOnline Business Banking, you can access up-to-date account information, view statements & check images, and pay bills - all with the click of a button. See Demo
PeoplesOnline Cash Management
In addition to account information, PeoplesOnline Cash Management gives you the ability to initiate ACH transactions, wire transfers, and stop payments. Automated account reconciliation is also available. See Demo
Access24 Telephone Banking
Manage your money from any touch-tone phone, anywhere, any day, at anytime. Convenient, simple and secure, this free service lets you transfer funds and check balances.
CD Rom
On a monthly basis, receive a CD-ROM containing your paid check images. Through a locally installed program on your own computer, research your company's paid checks by number, amount or date paid.
Reconciliation
Eliminate manual reconciliation and balancing of accounts through PeoplesBank's Account Reconciliation Services. Depending on your business needs, we will provide a solution to automate your reconciliation and reporting processes saving you time and increasing your staff productivity.
Investment
Automatic Sweep to Investment Account
PeoplesBank's sweep service allows you to invest idle balances while maintaining liquidity. On a daily basis, any excess funds above a predetermined required balance are automatically transferred to the investment account. If the balance falls below that required balance, funds are swept back into the checking account to cover disbursements on a daily basis.
* The Investment Account is not a deposit of, guaranteed or an obligation of the bank, is not insured by the FDIC or any federal government agency or other type of deposit insurance, and may be subject to risk and loss of principal.
Automatic Sweep to Line of Credit
Based on a required balance in your checking account, PeoplesBank's loan sweep option automatically pays down your line of credit from excess funds whereby minimizing interest expense. And as needed, the loan sweep advances from your line of credit to meet your daily cash needs.
Disbursement
Automated Clearing House (ACH) Services
Eliminate the need and expense of issuing paper checks by initiating electronic ACH credits via PeoplesOnline Cash Management. This reliable and secure process gives you the flexibility to pay your employees or customers electronically thereby accelerating funds availability, improving cash flow, and reducing operational costs.
Tax Payments
PeoplesBank customers can pay taxes through PeoplesOnline Cash Management or by signing up with EFTPS.
Wire Transfer Services
For quick, accurate and secure payments or transfers to accounts throughout the world, initiate domestic and international wires via telephone, fax or PeoplesOnline Cash Management.*
*PeoplesOnline Cash Management services domestic wires only.
Zero Balance Accounts
Consolidate balances into one main operating account but maintain separate collection and disbursement accounts for recordkeeping purposes. By establishing ZBA accounts for your secondary accounts, you eliminate the need to maintain balances in multiple accounts and maximize the use of your cash balances. And best of all, you no longer need to make manual cash transfers!
Collection
ACH/Cash Concentration
PeoplesOnline Cash Management provides the mechanism for collecting or consolidating funds electronically. By collecting receivables electronically, you manage your payment date and reduce costs associated with bill preparation and deposit processing. And to improve cash flow and reduce inefficiencies, consolidate your funds by initiating electronic transfers via ACH.
Remote Deposit Capture
Would you like to make deposits electronically from your office or place of business? PeoplesBank Business eDeposit enables you to make deposits electronically.
Instead of running to the bank, you simply run checks through a desktop scanner. Images of both sides of the checks are transmitted to PeoplesBank for posting and clearing through a secure website.
To hear more about PeoplesBank's Business eDeposit, or for an on-site demonstration, email cashmanagement@bankatpeoples.com or contact Zhen Chen, Margaret Lenihan or David Thibault.
Lock Box
Expedite the collection of receivables and processing of incoming payments by sending payments directly to the bank. Automating your collection processes will improve efficiencies and increase cash flow.
Merchant Services
Customer convenience is a priority for any business and PeoplesBank is helping you accommodate your customers through our Merchant Services Program. Our Preferred Partner, Electronic Merchant Systems lets you offer convenient, electronic payment methods, such as credit cards, debit cards, gift cards, etc. to your customers while reducing the costs associated with credit card acceptance.
Additional Services
Courier Service
Armored and non-armored courier service, scheduled at your convenience.
Payroll Processing
Accurate, flexible and dependable payroll processing solutions to meet your payroll needs, regardless of the number of employees.
Night Deposit
This service is available at all of our offices and at some PeoplesBank ATM locations.
Coin and Currency
Coin and currency orders can be filled free of charge at any of our offices.
To hear more about PeoplesBank's Cash Management solutions, email cashmanagement@bankatpeoples.com or contact Zhen Chen, Margaret Lenihan or David Thibault.
