Business Cash Management Services
At MWBank, we understand how important
it is for you to manage your business as efficiently and accurately as
possible. That's why we offer a comprehensive array of quality cash
management products and services to meet your company's diverse treasury
management needs.
By partnering with MWBank for your
company's cash management, you can reduce the administrative time and
costs associated with the internal management of your cash, and allow you
to focus on more productive business tasks.
Please feel free to email or call us directly at 800-980-9277.
Services and Products Offered
ACH
Origination/Direct Deposits
Less expensive than check processing, Automatic Clearing
House payments provide a reliable method of collecting and disbursing
funds. In cooperation with the Federal Reserve Funds Transfer System,
disbursement information is entered one day, and the funds are directly
deposited into the payee’s account the following day. This service
offers our business clients improved cash management by reducing payment
processing costs and eliminating lost or stolen checks.
Account
Analysis
The Account Analysis statement recaps the cash management and
transaction services used each month, and, if applicable, the calculation
of earning credit allowance. When applicable, earnings credit is used to
offset bank fees. The earnings credit is calculated on all collected funds
in the account. The Account Analysis statement groups together all of a
company's business checking accounts and services in one easy-to-reach
combined statement.
Account
Reconciliation
Account reconciliation is fundamental to the audit control,
cash forecasting, and general accounting at every company. MWBank provides our clients with images of checks appearing in
numerical order.
Coin
and Currency Processing
We can provide secure processing and verification of coin, currency and
food coupon deposits.
Controlled
Disbursement Service
Controlled Disbursement Service provides same-day monitoring of
funds clearing against your account. This service eliminates the need to
pre-fund your account and helps you to determine the amount of funds
required to clear your account each day. Controlled Disbursement allows
you to make more accurate funding decisions for maximizing investment
income or minimizing borrowing costs.
This information is available after
approximately 1:30 PM daily, and is automatically memo posted to the
account. Access to the clearing figures is available through Premier
ECorp.
Courier
Service
Our staff couriers take the hassle out of making it to the bank on time.
Our courier service allows you to schedule a convenient time for us to
come to your office and pick up deposits or other bank related
items. This service provides same day
credit on all regularly scheduled pickups and on special pickups where the
bank is notified prior to 10:00 AM of any business day, and saves you
valuable time that you would have spent driving to the bank.
Depository
Transfer Check
A Depository Transfer Check (DTC) is a convenient and inexpensive means to
collect funds on deposit at other depository institutions by a telephone
or fax request. A pre-authorized check is placed in the collection process
at the end of the day and the funds are collected the next business day
through the Federal Reserve Check Clearing System. A copy of the check
will be forwarded to the requesting company for verification.
ECorp
A unique on-line information system providing direct access via your PC to
account information on balances, cleared checks, deposits and loans. Funds management features include
transferring money between accounts and initiating wire transfers.
Click here to learn more about
Premier ECorp
Fax
Transmission
For communication ease and convenience without a computer, fax
transmissions can provide client’s daily bank ledger and collection
information as well as previous day’s account activities.
Investment
Services
We offer a variety of investment
vehicles to meet our client’s
individual needs. Investment vehicles such as Treasury Bills and Bonds,
Municipal Bonds, Commercial Paper, or competitive Certificates of Deposits
are available to our clients. Our investment services offer
up-to-the-minute information in yield and risk trade-offs, tax
preferential treatments, interest rates and various maturities.
Lockbox
Processing Service
Lockbox Processing Service expedites the collection of your
company's receivables. Your customers remit payment to you through a
post office box. The Bank makes timely pickups at the post office, and
then endorses and deposits the items. The
money is then directly deposited to your account and information
pertaining to the deposit is forwarded to you. This process reduces
clerical burden and provides same day processing.
Payroll
Accounts
A payroll checking account can save our clients valuable time during
reconciliation since no other checks are drawn on this type of account.
Sweep
Account
Sweep Accounts maximize the full earning potential of your available cash
automatically sweeping excess checking account balances into interest
bearing accounts on a daily basis. It will also draw on your approved line
of credit to cover any short-falls up to the limit of the credit line or
you can pay down on your line of credit. Our business bankers will analyze
your account and set up target balances.
Wire
Transfer
Our Wire Transfer service enables our clients to make same day payments to
their customer's account at other banks electronically on a repetitive or
non-repetitive basis. This includes both domestic and international wires.
Clients can choose between telephone or Premier ECorp wire initiation. In both
cases, a unique PIN or user ID is assigned for security.
Zero Balance
Account (ZBA)
Our Zero Balance Account automatically transfers funds between your
company's main and subsidiary checking accounts, centralizing funds into
one main account. This service effectively reduces clerical work,
eliminating the need for account to account transfers. Each morning,
subsidiary accounts open at a zero available balance. Throughout the day
transactions post against subsidiary accounts, placing them in a temporary
excess or deficit position. At close of business each day, the automatic
transfers are made from the main account to bring subsidiary accounts to a
zero balance.
