Managing cash flow is an essential step to maximize growth and profitability in today’s business environment. Understanding the overall payables/receivables cycle will lead to lower costs, time efficiencies, increased control and fraud prevention. Peoples Bank of Alabama provides many services to help you effectively manage your cash flow cycle.
ACH - Electronic funds transfer ability for transactions such as payroll, vendor payments or tax payments; reduces the high cost of check writing.
Wires - Gives you the ability to move funds as a same-day electronic transaction; funds can be sent as a one-time transaction or a repetitive template can be established.
Positive Pay - Dramatically reduces check fraud; the bank can match incoming check items to your check database and notify you of exceptions or we can provide you a daily list of items presented for payment and you make a ‘pay’ or ‘no pay’ decision.
Bill Pay - Provides your business a way to make payments without issuing physical checks.
ACH - Pre-authorized electronic debits can be initiated to collect receivables owed to you; less float time, lower costs than paper checks and increased employee productivity.
Remote Deposit Capture - Check deposits can be made directly from your office; branch proximity and expense of travel is no longer an issue.
Lockbox - Payment processing service where the bank processes all incoming check payments on our behalf; accelerates funds availability while reducing labor costs.
Merchant Services - Acceptance of a variety of credit and debit cards; increases sales opportunities while reducing NSF fees.
Cash Position Services
Online Banking - Convenient way to access account information anytime; account transfers, stop payments, ACH and wire origination are some of the functions available.
Zero Balance Accounts - Automatically consolidates funds from several accounts into a master account nightly; minimizes idle balances while reducing NSF fees.
Line of Credit Sweep - Automated transfers between your line of credit and operating account; lowers borrowing costs while providing funds availability for payables.
Cash Services - You define your daily cash needs which may vary or standing orders can be implemented; cash/change order is available every morning based on your specific need.
Peoples Bank of Alabama can provide a comprehensive solution that best meets the needs of your business. We can help you accelerate cash inflows, maintain liquidity, maximize earnings, manage borrowings and minimize financial risks.