Business Cash Management Services
Choose from a variety of services that allow you to maximize your cash flow and better manage your funds. Many of these services can be used on their own or in concert with each other. Contact the Business Banking Team to get started or click on the tutorials below for step-by-step instructions! Only at Missouri’s Callaway Bank!
Electronic Funding Solutions
Electronic Deposit: With this technology, also known as Remote Check Deposit, you can deposit checks from your office and receive a credit to your account just as if you visited our lobby. This system scans your checks, creates deposit tickets, and sends them securely to the bank for processing. Deposits can be made up to 5:00 P.M. for same-day credit. The system also provides full research access to past payments.
Automated Clearing House (ACH): ACH allows you to create electronic transfers to or from accounts of other companies or individuals, directly to your business account. Common uses include Direct Deposit for payroll to employee accounts, sending tax payments, automatic billing of your customers for rent, membership fees, or any regular payment. ACH transfers can be handled through our Business Banking Online service, allowing you to manage the process when it’s convenient for you.
ACH Debit Block: Prevents your business accounts from all ACH debits to help prevent fraud.
Wires: Wires are used to send funds electronically and generally arrive much faster than other electronic methods.
Sweep Account Services
Zero Balance Account: Manage the disbursement process with Zero Balance Accounts. Transfer money from the funding account automatically to cover balances made on the Zero Balance Account. Manage funds in one special purpose account conveniently.
Firewall Accounts: Firewall Accounts are checking accounts that cannot be debited and add another layer of fraud protection for your business account. You simply provide the account number to a client or vendor who wishes to deposit (credit) funds electronically into your account. Funds are then automatically moved to the primary account.
Investment Sweep: The Investment Sweep is a cash management tool that automatically transfers funds to your savings, money market, or investment account on a daily basis. Excess funds over a specified sweep point are swept from the checking account and moved. As funds are needed you can transfer them back into the checking account. (Funds swept back from a money market or savings account are restricted by the number of sweeps back each month but not by the number of dollars.) This tool allows commercial customers to earn interest on excess balances in their checking accounts. The investment account option is available for a fee as it is secured by bank securities rather than the FDIC.
Loan Sweep: A Loan Sweep provides an automated method of managing excess funds with a Line of Credit. Excess funds over a specified sweep point are swept from the checking account to pay down the loan. A loan advance will automatically occur if the checking account balance falls below the established sweep point.
Combo Sweep: A Combo Sweep is a combination of the above Investment Sweep and Loan Sweep with up to three sources and three destinations all performed in the order of your choosing. Excessive funds are first swept to the loan up to an established limit; additional funds are swept to the investment account. As funds are needed, invested balances are drawn from the Investment Sweep, and then advanced from the Line of Credit.