Cash Management Services
Comprehensive cash management services for your business.
At Rockland Trust, our relationship advisors use advanced financial tools to help you improve cash flow, maximize investments, lower costs and better control your company's funds.
View the tabs below to learn how our cash management services can help your business. For more information, email RTCCashManagement@RocklandTrust.com or call 888.878.7824.
An Investment Sweep is an investment account that maximizes the value of your business checking account balances by automatically investing excess funds overnight while still allowing for the movement of funds back to the checking account to cover presented payments.
Investment Sweep options
- Interest Checking Sweep
- Repurchase Agreement Sweep
- Competitive yields
- Earn interest on idle cash
- Repurchase Agreements backed by U.S. government securities
A Loan Sweep utilizes excess funds over a designated target balance in a checking account to be used to pay down short-term borrowings on a line of credit. If the funds in the checking account are less than the target balance, there will be a drawdown on the line of credit availability to pay the presented payables.
- Minimizes interest expense on your line of credit and overdraft fees
- Automated process saves time and effort
Zero Balance Account
A Zero Balance Account is a business checking account that allows customers to consolidate balances from multiple sub-accounts into a single master account.
A Zero Balance Account enables a company to segregate the collection and disbursement of cash.
- Eliminates daily monitoring of various accounts and the necessity of making repeated transfers between accounts.
- Gives you the option of establishing accounts solely for accounting or general ledger reporting, thereby insuring “idle funds” do not remain in the account after daily posting.
Automated Clearing House (ACH) services enable you to send and receive money electronically on predetermined dates. You may use the ACH system to process electronic withdrawals from customers as well as make deposits to employee or vendor accounts.
- Reduce costs and inefficiencies of producing checks
- Manage receivables and payables more efficiently
- Simplifies payroll reconcilements
- Accessible through Rockland Trust’s online banking which makes it simple to create templates, upload files and process each ACH batch
Account Reconciliation Services
Account Reconcilement provides you with a detailed statement that includes checks paid, checks outstanding, stops, debits, and credits. Your reconcilement statement can be prepared at any time through Rockland Trust’s Online Banking system.
- Consolidated statement of outstanding checks
- Ability to reconcile deposits from various locations
- Processing schedules to meet your needs
- Accessible through Rockland Trust’s online banking.
Imagine never again feeling the pressure to rush to the bank to make a deposit. With Remote Deposit*, you can make deposits electronically from your office computer. Plus, you get the convenience of making same day deposits up to 7:00 p.m.
How Remote Deposit works:
- Scan the checks to be deposited with the special scanner we provide. The scanner images both sides of each check and can even read handwritten dollar amounts.
- Transmit those scanned check images to Rockland Trust using secure software we provide.
- We print a copy of each check, called an image replacement document . This document then goes through normal check processing and the funds are deposited into your account.
Make deposits anytime, anywhere using your Apple or Android device.
Turn receivables into working cash faster by having remittance payments sent directly to a post office box where Rockland Trust representatives pick up and process the items daily. Remittance information is then forwarded to your company for accounts receivable posting.
How Lockbox Services works:
- Rockland Trust sets up a post office box in your company’s name. Various size boxes are available depending on your company’s needs.
- Your customers mail payments to your post office box. Each day, our operations professionals collect, process, and deposit your receipts. Checks are reviewed, endorsed, imaged and deposited into your account according to your specifications. If requested, credit card payments are accepted and processed. Non-bankable items such as correspondence, change of address forms, etc. are sorted and sent to the client.
- A daily report is transmitted to you via email. You may also download a data file to import into your accounting software.
Convenient, envelope-free ATMs
You can deposit cash and checks directly into our ATMs — up to a stack of 30 checks all at one time. No deposit slips or envelopes are needed. The deposits are verified instantly right on the screen. An image of each check, the denomination of each paper bill inserted, and the total amount deposited are printed on the receipt.
*Certain account requirements apply. Subject to approval.
Positive Pay helps guard against fraudulent check transactions and gives you greater control over disbursements. We compare checks presented for payment against a file of issued checks that you provide. If any item such as check number or dollar amount does not match, the check is flagged for your review. You decide whether to pay or return the check.
As an added measure of protection, checks presented for cash payment at any of our teller lines are compared against your check-issued file and only those matching the information you provided will be honored.
How Positive Pay works
- Using online banking, simply upload a file containing information about the checks you are issuing that day. Most data file formats are acceptable. Information about the checks may also be entered online manually.
- Each day we compare the information you provided with checks presented for payment.
- If there are discrepancies, you will be notified by email.
- Login to online banking to submit your decision to pay or return the item(s) in question.
Click here to see a Positive Pay demo >
Electronic Debit Block
While Positive Pay safeguards your account against check fraud, Electronic Debit Block protects it against unauthorized ACH debits. You may choose to block all electronic debits, or set up a filter that allows only authorized payees to debit your account.
How Electronic Debit Block works
- Choose whether you want to block all electronic debits (ideal for depository accounts) or filter debits (good for disbursement accounts).
- If filtering, supply us with a list of authorized payees. Filter criteria may include account number, company name, and ID. You may also choose maximum debit amount and expiration date.
- We compare incoming electronic debits against your list and reject those that do not match your criteria.