Streamline Your Payment & Receivables Processes
From collecting payments for your business to making sure your employees are paid on time, the treasury management services offered by Mid America Bank are focused on improving your business’s processes and adding efficiency. In addition to helping with payment and receivables, these services can also protect your business from fraud. Please contact our Treasury Management Team to learn more about how you can use treasury management services to improve efficiency at your business.
Our Treasury Management Services
Service | How This Service Works |
|---|---|
Automated Clearing House (ACH) | ACH services allow you to make electronic payment disbursements. This eliminates the need to manually process and reconcile paper checks. ACH is a great option for paying vendors or employees via direct deposit to ensure all payments are made on time. |
Remote Deposit Capture | Eliminate the need to run to the bank to deposit checks for your business. Remote Deposit allows you to scan checks and deposit them electronically from your office. You can also export all check data into your financial management software. |
Positive Pay | Stop check fraud before it happens with Positive Pay. Check Positive Pay matches the check number, dollar amount, account number and payee of every check. Any check that doesn’t match the list you provide is flagged for you to double check so you can accept or reject the check. ACH Positive Pay allows for incoming ACH transactions to be reviewed; also allows the ability to create a list of approved vendors that are paid automatically, along with the flexibility of adding expiration dates and amount filters. |
Cash Management | Take advantage of our cash management services to cut costs, save time and help your business run efficiently. By enrolling in our cash management services, you can have a zero balance in your collecting account at the end of each day, or even set up a sweep into an investment account. |
Wire Transfers | Wire transfers allow you to send and receive money securely. Funds can be sent and received for both international and domestic transactions. |
Cash Concentration Solutions | Loan Sweeps - Automatically moves funds between the customer’s credit line and their checking account. You only pay interest on the funds you need for the period you need them. Investment Sweeps - Earn interest on account balances by linking a non-interest bearing checking to and from a Mid America Bank money market account. When the collected balance in the checking account exceeds a target balance, funds above that level are swept automatically into the money market account. If the checking account falls below the target or zero, funds from the money-market account are swept back into the checking account. Zero Balance Accounts (ZBA) - ZBA’s (sometimes referred to as a sweep transfer account) is a standard business checking account that is dedicated to funding a specific expense, such as payroll, petty cash, travel reimbursement or any other business need |
Merchant Card Processing | With Mid America Bank’s merchant card services, you can accept credit and debit card payments. We can set your business up with POS terminals to make transactions easy for your customers and your employees. Most importantly, we are here to offer support to you if you have any questions. |