When it comes to creating a seamless customer experience, your business is only as efficient as the tools you use. These simple banking solutions can help put money back in your pocket and time back into your day.

Business Banking Accounts

Do some research online and you’ll quickly notice that business accounts come with a variety of features and function to serve various business needs. For example, high transaction volume accounts may be beneficial for a retail business that processes a lot of payments monthly, but not so beneficial for an online realty company posting fewer than a dozen transactions in a month.   

Finding the right fit starts with assessing your business needs. Do you have a lot of liquid assets sitting around that could benefit from an interest-bearing savings account? On the other hand, could your business use a sweep service that transfer funds between designated accounts to cover transactions like payroll or bills? Are you a nonprofit looking for an easy, affordable way to process transactions? The good news is there are accounts with something for every business owner. Consider your needs and do your research to find an account that works for you.

ACH Transfers to Streamline the Payment Process

Businesses looking to simplify account payables and receivables while increasing cash control use an Automated Clearing House (ACH)***. ACH helps process credit and debit transactions for various payments, such as payroll or recurring loans. After setting up an ACH with a designated dollar amount, transaction date, routing, and account number, any recurring transfers will be automatic, which helps save time when processing deposits or payments.

Easier Spending with Business Debit Cards

Cash and checks, while useful, can take time and aren’t always readily available. A business debit card offers an avenue to make quick purchases without the need for cash or checks. With customized spending, you can limit cardholder transactions linked to business-related expenses. While each business account structure is different, business debit cards** are usually available to owners, signers, office managers, supervisors, technicians, etc. upon approval by an authorized business signer.

Commercial Credit Cards to Help Better Manage Cash Flow

Cash on hand is rarely guaranteed when it comes to running a business, so expenses like invoices or travel can be more manageable with a business credit card***. Some offer cash-back rewards, online account access and customized spending limits, which means more money back in your pocket. Consider all fees and current rates before settling on one card.

Cash Reserves to Help Protect Your Account from Overdrafts

Whether business or personal, overdrafts can be a hassle. Business Cash Reserves*** can help. It’s designed as a line of credit attached directly to your business checking account. If the account were to run short of available funds to cover transactions, funds would automatically advance from the available credit in your cash reserve.

Cash reserve availability varies by institution, but you can find more information about FirstBank’s service by visiting any location or calling 877-249-9980.

Internet Cash Management to Monitor Your Account

Internet Cash Management (ICM)*** is an online tool to help monitor and manage your company’s business account(s). Some service options include:

  • View and print account statements
  • Download account activity into accounting software (i.e., QuickBooks or Quicken)
  • Use BillPay to create one-time or recurring payments
  • Initiate wires
  • Return unauthorized checks and/or ACHs

These services typically come with additional fees so it’s best to understand your particular needs and weigh them against the cost of the product. For more information about ICM, contact our Treasury Management department at 855-426-1500.

Start Depositing Checks from Your Computer or Phone

Desktop Teller*** allows you to deposit checks into your business account from your own computer without physically going into the branch. When your office hours go well past banking hours, this feature allows deposits until 9 p.m. Mountain time (8 p.m. Pacific time)

You can also deposit checks into your business account through the Mobile Deposit* feature in your banking app. 

When running an efficient business, simple banking products help you focus on future endeavors rather than spending your time waiting in line at the bank.

Use Zelle® to Send and Receive Quick Payments*

Do you need to send a quick payment for an equipment purchase or services? Zelle® allows you to send money to business owners or individuals who are enrolled through their banking app. Please note that not all banks and credit unions offering Zelle® to consumers, offer Zelle® for small businesses. Contact your bank for more information.

To speak with a Treasury Management representative, call 855-426-1500 or visit efirstbank.com.

*Online Banking is free with eStatements. $3 per month with paper statements. Online Banking is required to use mobile and online products.

**Commercial Fee Schedule

***Subject to approval

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

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