Cash Management
Cash Management products and services provide business customers with advanced technology that can improve cash flow, reduce costs, and streamline operations. First State Bank will focus our full attention and resources on achieving your business goals with experienced professional bankers and proven technology.
Cash Management's foundation is our feature-rich Online Banking System. Once approved, we allow you to customize the system with products and services that best fit your needs. Available 24x7, Online Banking is like having one of our branches on your desk.
Account Management Controls
The goal of most company auditors is to separate the duties of employees -- including the use of Online Banking. At First State Bank, our Cash Management system was designed specifically to give your management team the strongest possible controls over employees and their duties.
Cash Management allows your managers to tailor the online parameters specifically to each employee. All of the parameters are controlled by your company, and are optional.
For example:
- Access to Accounts can be Limited by Employee
- Each Employee can have a Unique ID and Password for Tracking
These are just a few of the many controls available to help manage your information. Our system was designed for maximum control and flexibility to meet your needs.
Balance Reporting
Balance Reporting provides the information you need to quickly and easily manage your accounts and cash flow.
There is no limit on the number of accounts you can monitor. Our real-time system automatically updates key reporting fields as funds are received, such as wire transfers and ACH items. Other important information includes float and uncollected balances that will assist you in planning your cash position today and future days to come.
Cash Management provides you with secure access to your account balances.
Advanced check imaging is used to capture your items and allow you to view a picture, front and back, of each check or deposit you have made within the last sixty days. If you need a copy of a check for proof of payment, you can print it from your home or office. If you need to email a check image, you can use the "Print Screen" key, and "Paste" the image directly into your email.
Funds Transfer
If you need to transfer money from the Operating Account to the Payroll Account while on vacation, account-to-account funds transfers are fast and easy.
Whether you are at the office, at home, on vacation, or out-of-town on business, you can make transfers with ease. Simply login to Cash Management and transfer money from one account to another. Within seconds, the transfer is completed and the funds are available in the designated account.
If you need funds for tomorrow's business transactions, you can login and transfer funds after 3:00 P.M. central time, and the funds will automatically transfer for tomorrow's business.
Cash Management has extended the hours that a customer can make a transfer. This provides you another way of ensuring that you have enough funds in the right account to operate your business.
As with every transaction on Cash Management, a tracking confirmation is automatically generated to help with future research. The confirmation is displayed online and is printed on your monthly statement.
First State Bank is one of only a few banks that show you all of the transactions by 3:00 P.M. central time that will post that night. If you need to make a funds transfer to provide sufficient funds, it is just a few clicks away.
eStatement Delivery
Tired of waiting for the postman to deliver your monthly statement? Problem solved! At First State Bank, we know you need your checking statement as quickly as possible, so you can close out the previous month's business and prepare your financial statement.
Gone are the days of print and delivery delays between you and the bank. With eStatement, you can login the first business day of the month and print your statement.
Using the highest security commercially available, we keep your statement secure online and ready for you to view. For your convenience, we keep statements online for three years. With convenient Internet access or wireless internet (wi-fi), your statement can be retrieved from your office or from your home. If you are out of town on business and want to view your statement, most hotels and airports now have easy access to the Internet. However, use caution when logging into a public wi-fi network.
To provide the best customer service, we keep a backup copy of your statement and images for seven years. If you ever need a statement or image that is not online, simply call us and we will provide it immediately.
Transaction/File Downloads
Downloading information from your accounts can save you time and avoid errors. Cash Management allows you to quickly and easily download posted transactions and statements for any account directly onto your computer. You can then archive them for future use, research, or import the transactions into a spread-sheet program, such as Microsoft Excel, for reconciling, research, or analysis. Formats include Comma Separated File (.CSV), Quicken (.QIF), Microsoft Money (.OFX), and QuickBooks (.IIF)
Automated Clearing House (ACH)
For more than three decades, direct deposit of payroll was synonymous with ACH because of its reliability and convenience. Employees will enjoy the convenience of not having to drive to the bank to cash their payroll checks, due to the fact that the deposit is automatically being made electronically. For employers, ACH Direct Deposit of Payroll reduces employee time away from work and processing costs are less than paper checks. During the 30+ years of service - ACH has never lost a single deposit.
First State Bank's ACH is much more than just payroll. Our state-of-the-art system can include using ACH for collecting payments. For example, monthly membership fees or services can be automatically scheduled to debit a customer or member's checking account and credit your company's account.
Controls in ACH are extensive and each time transactions are generated, an audit trail is created for future research. Payroll or collection payments can be scheduled in advance and automatically triggered on the effective date. This a great feature to use when the payroll or collections clerk is planning vacation.
There are numerous ways to use ACH. Our experienced Cash Management Representatives can educate you on features and techniques that will work best for you and your company.
Learn More About the following Business Services:
Bill Pay
Bill Payment from First State Bank is one of the safest, easiest, and most cost-effective services available to free your company from the time-consuming task of paying bills. We understand that paying bills is a basic function of your company, but it does not have to escalate your personnel and postage costs.
Our service allows your company to focus resources on your core business, by automating payment processing. You do not have to worry about the payee being able to receive electronic payments. Our system can send payments electronically or as paper checks. You simply tell the system who and how much you want to pay and we handle the rest.
One-time or recurring payments are standard for Bill Payment and you can use the system 24x7 when you log-in to your account. Strong audit controls are provided, which track each payment with a unique transaction number that can be viewed online and printed on your monthly checking statement. If necessary, stop payments can be placed online for any checks issued.
Instructions for Using Bill Pay
Remote Deposit Capture
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Remote Deposit Capture systems are small, powerful desktop systems that include a workstation, desktop scanner, laser printer, and software to capture checks and transform them into an electronic deposit that is transmitted for processing at First State Bank's service center.1
The scanners range in speeds from 30 documents per minute (DPM) to 100 DPM. As the checks move through the scanner, an internal digital camera takes high-resolution images of the front and back of each check, and records them to a hard-drive. Another device in the scanner is a special reader that identifies the magnetic ink characters (MICR) located at the bottom of each check, records them, and links them to the check image. The MICR line contains routing information for the financial institution of the checkwriter.
Advanced features called Courtesy Amount Recognition (CAR) and Legal Amount Recognition (LAR) read the amount written by the checkwriter in the small box on the right side of the check with a $ symbol inside it and on the line immediately below that ends with the word "Dollars." By reading this information and converting it into editable text, the system saves the customer data entry time, and associated labor expense. Handwriting technology such as CAR/LAR has been used in banking for more than 20 years because it is very accurate and safe.
Throughout the capture, correction, and balancing process, the system keeps a running total of the checks to assist the operator in balancing the deposit. After balancing, the checks are securely transmitted via the Internet to First State Bank's service center as part of the collection and accounting process. After all steps are complete, the original checks should be stored immediately in a safe location until they are destroyed.
Research for deposits and checks is fast and easy via a secure access to our service center where they are kept for ninety days. In addition, a second copy of all checks and deposits are kept by First State Bank for seven years.