Cash Management
Sweeps
Repurchase Sweep
A Repurchase Sweep Account is a convenient automatic way to manage your company's cash position while earning a higher rate of interest. Funds in excess of those needed for daily liquidity purposes are swept each night from your checking account to your repurchase account. Conversely, if your need for funds increases, the funds are swept back from your repurchase agreement to your checking account. This enables your company to earn a competitive interest rate on idle balances that otherwise would be kept in the checking account. These investments are not FDIC insured but risk is limited as balances are collateralized by U.S. Government Agency securities.
Line of Credit Sweep
Each night, excess balances in your checking account will be automatically be applied to the outstanding principal balance of your Team Capital Bank Line of Credit. Any remaining excess funds will then transfer to a Repurchase Account. If needed, funds will be advanced from the Line of Credit to cover checks clearing against the checking account balances.
Zero Balance Accounts
Zero Balance Accounts ensure that funds do not stand idle in multiple accounts, and eliminate the need to initiate account transfers. With this convenient service, your funds are automatically transferred to or from the master account at the end of each business day, in order to offset the net activity in each zero balance sub-account.
Disbursement Services
Automated Clearing House (ACH) Services
Initiating electronic payments through the ACH system reduces costs and saves time. Not only is it an effective solution for payroll, but also for expense reimbursements, stockholder distributions, federal and state tax payments, and paying vendors. Payments via ACH save time, lower transaction costs and enhance control of funds. ACH transactions can be initiated through Team Capital Bank's Business Online Banking service or a third party processor.
Domestic and International Wires
When speed is essential, wire transfer facilitates the same-day transfer of funds. Initiate one-time or recurring domestic or international wire transfers online, over the phone, or at one of our many community banking offices.
Collection Services
Remote Deposit Services
At Team Capital Bank, our specialty is making life easier for our customers. Simply scan and deposit commercial checks, personal checks, cashier's checks, money orders and more, all with our remote deposit check scanner. Plus, you keep the checks -- all we need is the scanned image!
Automated Clearing House (ACH) Services
Now your company can utilize the speed and efficiency of ACH to collect recurring receivables such as insurance premiums, utility bills, membership dues or subscriptions. With approval from your customers, you can electronically debit their account and credit your account at Team Capital Bank. Knowing when the payments will arrive will help you better forecast your company's cash flow.
Cash Concentration
Allows your company to automatically move funds from accounts at other financial institutions to a central account at Team Capital Bank. Cash concentration eliminates idle balances, pools funds cost-effectively, enhances cash forecasting and maximizes use of collected balances.
Information Services
Business Online Banking - Now you can access your account information or initiate electronic transactions 24 hours a day seven days a week. It's an efficient way to manage working capital and conduct financial transactions safely and securely - direct from their PC. Business Online Banking gives businesses the capability to:
- View account balances and details
- View check images
- Create Balance Alerts
- Create custom reporting
- Transfer funds between accounts
- Process stop payments
- Originate ACH debit or credit transactions
- Initiate domestic or international wire transfers
- Export financial information to accounting software
Check Image CD-ROM - Electronic images of paid checks are provided on a convenient CD-ROM, saving time and eliminating the hassles of check storage.
Escrow Manager
As an attorney, property manager, realtor or other professional who holds client funds in escrow, you understand the time and energy it takes to open, track and report on numerous escrow accounts. With Team Capital's Escrow Manager, you are able to manage multiple accounts under a single Master Account. In fact, you will quickly appreciate all of the ways Escrow Manager simplifies your work. Advantages include:
- Maintain an unlimited number of sub accounts
- Choose between interest bearing or non-interest bearing accounts
- Receive easy-to-read, monthly statements summarizing and detailing account activity
- Have 1099 forms mailed directly to account holder
- No maintenance charges or service fees
To find out more about our Cash Management programs: Call or visit any of our convenient branch offices.
