Cash Management

Cash management includes a variety of techniques business owners can use to improve the efficiency and profitability of their business.  First National Bank & Trust offers a number of cash management services, including sweep accounts, remote deposit capture (RDC), lockbox services and cash management online banking which provides automated clearing house (ACH) services and free positive pay.

Sweep Accounts

A sweep account allows customers to maximize investment earnings and minimize interest expense by automatically transferring funds from their line of credit when a deposit account shows a deficit balance.  Additionally, when excess funds are present in a deposit account, an automatic transfer can be made to reduce the balance, if any, on your line of credit or it can sweep the excess funds into an interest bearing deposit account.

Remote Deposit Capture (RDC)

Remote Deposit Capture (RDC) is a service that allows customers to move deposits electronically from their home or office through the use of special equipment.  The equipment scans the checks and the digital image of each check is transmitted, processed and credited to the customer's deposit account.

Lockbox Services

A lockbox is a post office box established solely for the remittance of accounts receivable.  Lockboxes improve cash flow and minimize cash handling by multiple employees.  First National Bank & Trust collects the items daily, deposits the checks directly into the customer's deposit account and sends the customer documentation that the checks have been deposited.

Cash Management Online Banking

Through our secure, online Internet portal, Netteller, business customers have fast and direct access to all of their accounts.  Other features of Cash Management Online Banking include:

  • Thirty-day account activity summary with images of checks and deposit tickets.
  • Access to e-statements going back twelve months.
  • Transfer funds between accounts.
  • Pay bills online through the online bill pay service, including loan payments.
  • Initiate transactions between banks, including, wire transfers, tax payments, account transfers and direct deposit of payroll.
  • Initiate pre-authorization of withdrawals for reoccurring payables including membership dues, charitable contributions and insurance premiums.
  • Bank verification of checks written versus business register (positive pay) to reduce the risk of check fraud.

Direct deposit payroll services are also available via e-mail and CD for a small fee.  First National Bank & Trust's business banking specialists will work with you to discuss the best options for your business.

Please contact us online or via phone at (906)774-2200 to discuss which cash management services will benefit your business.

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