Cash Management provides innovative payment solutions and delivers online functionality that business owners can effectively manage their businesses.
In addition to the standard Online Banking features, Business Online Banking solutions provide:
• ACH Origination
• Merchant Remote Deposit Capture
This feature enables business banking clients to set up one-time or repetitive ACH transactions, such as disbursement payments or payroll. Other transactions, such as cash concentration transactions, are also available. Similar to external transfers, minimum transfer amounts and transfer limits may be set up for ACH Origination. With several alert options, users can select when they would like to be notified before the ACH batches are sent.
Benefits of ACH Origination:
• Reduce check costs
• Collect bills
• Reduce Accounts Receivable
• Improve your cash flow
• Lower handling and mailing costs
• Eliminate time to print & sign checks
• Easier check distribution
• Convenient and secure
• Easier payroll research
• No need to cash or deposit checks
• Increase confidentiality of payroll
Merchant Remote Deposit Capture
Merchant capture is the next step in the evolution of image-based check processing, which allows for business customers to electronically capture and remotely transmit items from their institution to Devon Bank.
Beginning with the Check Clearing for the 21st Century Act (Check 21), financial institutions started moving the capture of deposits farther away from the back office. Now with Merchant Capture, business customers have the convenience of error-free, balanced deposits from their place of business.
Spend less time depositing checks and more time running your business. With Small Business Remote Deposit Online, you can use remote deposit capture technology to make deposits to your small business account from your home or office for a low monthly fee.
Deposit checks from your home or office
• Save yourself the time and hassle of taking paper checks to a bank branch or ATM.
• Deposit checks using a check scanner.
• Scanning checks is easy.
For an application, please contact Business Banking at 773-423-2434