Cash Management products can be a website all by itself because there ability to help business owners making banking more convenient. I am going to discuss only those products that I believe are for general small businesses. If you wish to get more information visit your local bank or contact me here
Remote Deposit Capture- Make Deposits at your desk (if you accept checks)
Remote deposit capture (RDC) is a system that allows a customer to scan checks remotely and transmit the check images to a bank for deposit, usually via an encrypted Internet connection. When the bank receives a check image from the customer, it posts the deposit to the customer’s account and makes the funds available based upon the customer’s particular availability schedule. Banks typically offer RDC to business customers only.
ACH – (ACH Credit) Pay your vendors and employees electronically OR (ACH Debit) Collect Payments from your clients electronically
ACH Credit Services provide your business with a cost-effective and time-saving way to receive and distribute funds electronically. Using ACH credit origination system, you can streamline vendor, payroll, and federal and state tax payments, avoiding paper checks and the postal service.
ACH Debt Services is a convenient way to manage receivables for your business. Get paid faster by automatically collecting payments, rent or fees from your customers, tenants or members of your organization. You’ll decrease your collection headaches and increase your cash flow.