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CASH MANAGEMENT

Cash ManagementAs a full-service commercial bank, we are poised to help you maximize your banking relationship with our full suite of cash management products and services. Just as important, we are committed to providing a superior client experience.  Our team of knowledgeable relationship managers have years of business banking experience and are eager to help you create a customized banking solution for your unique needs. Speak with our professionals to learn more about Quality Local Banking.

 

Account Analysis

Account analysis is often the foundation of an organization's banking relationship. It allows your business deposit balances to receive an earnings credit rate (ECR) that is used to help offset monthly maintenance charges and various service fees. At The Bank of Washington, you'll find one of the most competitive rates around!

If your company utilizes any of our cash management services or has a high volume of account activity, an analyzed checking account lets your money work harder for you.

Speak with a relationship manager or one our branch managers to find out if account analysis makes sense for your business.

 

ACH Origination

Many organizations, both large and small, find that Automated Clearing House (ACH) Origination offers measurable benefits through streamlined disbursement, accounting, and cash management processes. Using your analyzed checking account at The Bank of Washington,  ACH lets you easily transfer funds electronically, avoiding costly and time-consuming paper-based options.

One of the most widely used features with ACH is direct deposit for your employees' paychecks. You deposit directly to their bank account, regardless of where they bank. This benefits both you and your employees. Your company benefits from reduced operating costs for payroll administration and your employees don't need to wait for a physical check and rush to meet banking hours.

You can also use ACH to benefit your business partners and clients with electronic bill collection of regularly scheduled payments. It's a true convenience to your clients and a great way to improve your accounts receivable process, plus it saves postage on both sides.  

 

Business Manager (Online Banking)

The Bank of Washington's comprehensive online banking service lets you transform your business computer into a virtual banking office! It offers the convenience of 24/7 access to your business accounts, in a completely secure Internet environment. You can also take advantage of our business bill pay service for a quick and easy way to manage your accounts payable while eliminating the hassle of a paper-based process. Business Manager is a dynamic business tool that lets you review balances and activity, transfer funds between accounts, access ACH and wire services, utilize remote deposit capture (RDC), export files, and much more.

Enrolling is easy; contact your local branch to request enrollment today and experience the ease and convenience this business tool offers.

Learn more

 

Courier Services

When a business finds it difficult to get deposits to the bank during normal business hours, we can help. We have a secure, convenient courier service that brings the bank to you! Contact one of our branches to determine if this solution fits your needs.

 

Merchant Bankcard Processing

The ability to accept credit and debit cards is a vital part of nearly every organization, whether it's a thriving medical facility or a small specialty boutique. Today's consumer uses plastic, and accepting bankcards tells your customers you want their business.  Merchant bankcard processing is fast, easy, and worry-free, and allows you to process electronic forms of payment, whether it's by phone, Internet, or cellular device. It also allows you to reduce your cash on hand and lowers operating costs by reducing losses on bad checks.

The Bank of Washington provides a high level of customer service to help make your merchant bankcard processing painless. You have the option to buy or lease your equipment, and rates are competitively priced based on the average ticket size, volume, and method of processing. And you receive a separate monthly statement of bankcard activity for easy account reconciliation of monthly sales.

 

Positive Pay

Positive Pay is another helpful business tool available through our business online banking service. It facilitates the timely and effective detection of fraudulent check activity on your business accounts. Companies can easily upload a file of issued checks each day to identify any discrepancies. Detecting unusual or unauthorized disbursements by comparing paid items against issue information is one important way to monitor against fraud! 

 

Remote Deposit Capture (RDC)

Remote Deposit Capture (RDC)  is a fast, easy way to deposit checks electronically, day or night. Using a check scanner and your PC, you can make deposits through our business online banking service without leaving the office!  There are many operational advantages to RDC including:

  • Faster funds availability
  • Reduced time spent preparing and delivering bank deposits
  • 24/7 deposit flexibility
  • Consolidation of several remote locations into one bank
  • Flexible reports to support your reconciliation and accounting processes

RDC is fully secure, using state-of-the-art encryption technology (128-bit) and multiple layers of security including password protection and Internet firewalls. As an added benefit, it reduces the risk of theft or check fraud with deposits mailed. You can see why many companies consider RDC an important business tool that adds value to their banking relationship. Talk to one of our trusted relationship managers to see if remote deposit capture is right for your business.

 

Sweep Accounts

If you maintain more than one business deposit account and/or use a line of credit, an automated sweep function may be the perfect tool to help maximize your banking relationship.  A sweep account can be used to maintain target balances, transfer excess funds to higher-yielding accounts, pay down lines, or even maintain zero balance accounts (ZBAs). And the best part is, the bank does all the work! Our system automatically processes your transfers so you don't have to constantly review accounts and move money manually back and forth.

Sweeps improve your company's cash management, and can offer peace of mind with overdraft protection (fee applies). Your monthly statement tracks all transfer activity for verification and account reconciliations. If you'd like to know more about the benefits of automated sweeps, contact a business banking expert at one of our local branches.

 

Wire Transfers

Using our comprehensive business online banking service, your business has access to The Bank's wire transfer services through the Federal Reserve System. It offers another option for transferring funds electronically, both domestic and international,  that is immediate and highly secure. And if you have recurring payments,  our wire template feature  makes it even more efficient and economical. User entitlements, designed with flexibility in mind, protect your wire transactions and are administered by you. 

 

Zero Balance Accounts (ZBAs)

A ZBA account is a checking account that is designed to maintain a zero balance and is linked to a master account that funds each day's activity.  At the end of each business day, transfers are made in the exact amount to cover all debits/checks presented, bringing the ZBA disbursement account back to its zero balance. This eliminates idle balances in your various disbursement accounts and keeps your balances concentrated into one primary account. It's even possible to link multiple ZBA accounts to one master account for more flexibility and increased control. And this daily sweep activity eliminates any possibility of overdrafts, provided the primary account is properly funded.

This service helps organizations who want to maintain separate accounts for general payables, payroll, health care, vendors, or even locations. Typically, deposits are streamlined into one master account, and each ZBA account receives only the funds needed. It's particularly useful for companies who want to consolidate their receivables while controlling disbursements associated with multiple locations. Just another way The Bank of Washington's experienced branch managers and relationship managers can help you create an efficient way to manage your company's cash flow.

Contact The Bank of Washington - (425) 921-2432
M–Th - 9:00 a.m.–5:30 p.m. | Friday - 9:00 a.m.–6:00 p.m.
       
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