You may be asking yourself, what is "Treasury Management?" Treasury Management is a way First United serves its companies’ by managing payables and receivables more efficiently. Here are just a few ways that Treasury Management can help your business:
Need to deposit checks without making a trip to the bank?
We would love to see you, but we understand that sometimes all you need to do is deposit a check made out to your business. In that case, it will be much easier for you to just deposit your business check using your smartphone. With Mobile Remote Deposit, you can take a picture of the check and submit it for deposit using your smartphone or tablet. If your company deposits a large number of checks each month, our desktop scanners allow you to image and deposit checks quickly and efficiently from the convenience of your office.
Want your payroll process to be faster and easier?
Do you still pay your employees by physical paychecks? You could be missing out on an easier way. With ACH Origination for Payroll, you can simply upload a NACHA or CSV file for processing or create an ACH file using our payment templates. Once the file is processed, funds are transmitted to the Receiving Financial Institutions and credited to the employee’s accounts on the effective date that you select. This can make your life and your employees’ lives much easier. You won’t have to deal with the unnecessary hassle of physical checks, and your employees can receive their pay without making an extra trip to the bank.
Worried about fraud on your business account?
We offer Positive Pay services to protect your business account from ACH and check fraud. Check Positive Pay gives you the peace of mind that only checks issued by your company will be paid from your company’s account. Any checks that do not match the information you provide in your issued check file will display as an exception for you to review the following day. We also offer a similar service called ACH Positive Pay that can help protect your business accounts from fraud associated with ACH transactions!
Curious about the cost of all these features?
Depending on the average balance in the account, you can receive significant discounts on the services we provide. This discount is called an Earnings Credit and is a daily calculation of interest that the bank pays on deposits. Instead of the credit being added to your account as an interest deposit, it is used to reduce service fees including the cost of the services that Treasury Management offers.
Ready to take the next step?
If you are curious about what Treasury Management can do for your business please reach out to one of our Treasury Management Officers. They are experts in this field, and love helping businesses like yours by offering solutions to your current pain points.
You can use the directory below or just call First United Treasury Management at (580) 634-6116 and you will be directed to the right person in your area.
We are excited to talk with you!
This article was written with the help of David Fida, First United Treasury Management Officer, and Amanda Hess, First United Treasury Management Product Manager.