Disbursement

Our disbursement services will keep funds working on your behalf for as long as possible, while helping you control administrative costs.

 Direct Deposit | Wire Transfers | Zero Balance Accounts | ACH Cash Disbursement 

Direct Deposit

Direct Deposit allows companies to electronically send payment credits, through the Automated Clearing House (ACH), to the financial institution accounts of employees, retirees and annuitants. Direct Deposit is a proven method of automatically making recurring payments more rapidly and accurately, at less cost, and with more confidentiality than with paper checks.

EMPLOYER BENEFITS:

  • Eliminates check reconcilement
  • No lost or stop payment fees
  • Eliminates critical delivery
  • Minimizes storage and security of checks
  • Eliminates vacation and special checks

EMPLOYEE BENEFITS:

  • Eliminates trips to the bank
  • No lost or stolen checks
  • Eliminates critical receipt from employer
  • No holds placed on deposits
  • Encourages saving
  • Funds deposited when sick or out of the office

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Wire Transfers

Wire Transfer is the fastest and most secure way for your business to move funds electronically between financial institutions using the Federal Reserve Bank as agent with guaranteed immediate funds availability.

BENEFITS:

  • Convenience and security
  • Same-day money transfer
  • Same-day funds availability, when made by 2 p.m. CST

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Zero Balance Accounts

A Zero Balance Account (ZBA) is an automated concentration of funds to and from any number of "subsidiary" accounts and linked to a "master" concentration account for accounting or funding purposes. Each business day, your excess cash in the subsidiary account(s) will be automatically transferred to your master concentration account leaving the subsidiary account(s) with a daily zero balance. When your subsidiary account(s) needs funds to cover checks or other debits, your master concentration account will automatically transfer the necessary balance to the subsidiary account(s) to cover all transactions and create a zero balance.

BENEFITS:

  • Centralizes cash control
  • Eliminates excess balances in subsidiary accounts
  • Eliminates the need to transfer funds between accounts
  • Simplifies reconciliation and saves time

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ACH Cash Disbursement

Cash Disbursement is a corporate electronic transfer of funds application, utilizing the ACH. Cash Disbursement is a credit application for the electronic dispersing of funds from a company to a specified bank location.

BENEFITS:

  • Funds disbursed on dates selected
  • Improves cash-flow forecasting and funds management
  • Provides 24-hour funds availability to outlying locations
  • Convenience of automated transfers
  • Reduces the need for expensive wire transfers
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