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Cash Management

Get more out of your money.

As a business owner, you know there's always room for improvement. That goes for your cash, too. Rockland Trust is the bank invested in your business, and our advisors will help you leverage Cash Management services to improve cash flow, maximize investments, lower costs and make your company funds work harder for you.

Contact a cash management specialist to learn more    click to contact a specialist


Investment Sweep

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 
Benefits: 
  • Competitive yields
  • Earn interest on idle cash
  • Repurchase Agreements backed by U.S. government securities  

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.


Benefits:
 
  • Minimizes interest expense on your line of credit and overdraft fees
  • Automated process saves time and effort  

Zero Balance Account

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.

Benefits:
  •  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



ACH Services

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.

Benefits:

  • 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

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.

Benefits: 

  • 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
woman at a computer

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, 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
man looking at laptop

Remote Deposit¹

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.²

How Remote Deposit works: 

  • Scan the checks with the special scanner we provide
  • The scanner images both sides
  • Transmit the images to Rockland Trust using secure software we provide
  • We print a copy of each check, and the documents then go through normal check processing and the funds are deposited into your account

Mobile Deposit

Make deposits using your Apple or Android device.

Lockbox Services

  • Turn receivables into working cash 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
  • 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

ATMs

  • Deposit cash and checks directly into our ATMs — up to a stack of 30 checks at one time
  • No deposit slips or envelopes are needed
  • Deposits are verified instantly right on the screen
  • An image of each check, the denomination, and the total amount deposited are printed on the receipt. 


man taking a picture



Fraud 101: Protecting Your Business

In case you missed the webinar “Fraud 101: Protecting Your Business” fill out this form and you will be sent an email with a link to view the entire presentation. Our goal is to help educate and protect to the best of our ability against fraud. 

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1.  Certain account requirements apply. Subject to approval.
2.  Check deposits made by 7 p.m. will be available on the next business day. Exceptions may apply. See account agreement for details.