Treasury Management Services
Bank of Central Florida is pleased to offer a wide range of state-of-the-art Treasury Management services, which are personally brought to your office by our treasury management experts. Our treasury management tools are designed to assist your company in managing cash flow, risk and operating costs. Please contact Treasury Management for more information about how to put these services to work for your company.
 

Business Internet Banking (BIB)

Monitor account balances and transaction information online. Initiate wire transfers, internal (express) transfers, bill payments, and stop payments. View Positive Pay exceptions. Import Automated Clearing House (ACH) or Positive Pay issue files. Pay down or draw from your line of credit. All of this while sitting at your PC with secured Internet access.

Features and Benefits

  • Increased availability of information – Manage financial information and run specialized reports
  • Improved control of funds – Transfer funds to and from company accounts as needed
  • Access a variety of applications with one logon
  • User friendly system for input
  • Export data into CVS, QuickBooks, and BAI file formats

Automated Clearing House (ACH) Service

Use ACH through BIB to pay employees via direct deposit, initiate tax payments, make trading partner/vendor payments, concentrate deposits from remote locations, or collect payments from customers electronically.

Features and Benefits

  • Benefits employees by offering direct deposit of payroll
  • Reduces time spent by employees depositing payroll and eliminates the need for stop payments
  • Improves cash flow – Direct debit of regular payments increases collection of payments
  • Saves money – Provides a lower cost alternative to writing checks or sending invoices for collection
  • Provides convenience – Streamlines the payment process through electronic entries

Positive Pay Service

Your Bank of Central Florida check fraud solution!

What if check fraud came with a warning system? Now it can. Bank of Central Florida's Positive Pay is a powerful, proven solution to combating check fraud. As an early warning fraud detection system, Positive Pay arms your business with the information needed to stop check fraud before it becomes a loss. Positive Pay allows you to electronically upload your check register for all written checks into your Bank of Central Florida Business Internet Banking. We will only pay the checks listed on the register with the precise specifications that you indicate, such as amount, payee, serial number, etc.

Features and Benefits

  • Reduces fraud – We only process the checks you tell us to, so fraudulent checks are rejected
  • Saves time and money – Reduces labor associated with manual check prevention measures
  • Provides convenience – Eliminates the need for you to inspect and review checks for potential fraud issues
  • Puts you in control – Provides more accuracy and greater control over your cash flow
  • Offers quick and easy access – Issue checks and approve Positive Pay exception items from virtually anywhere you have Internet access

Express Deposit

Streamline the deposit process by remotely scanning and capturing check images for deposit directly from your place of business. This service creates an electronic image that is transmitted to a central processing center for settlement to the payer's bank.

Features and Benefits

  • Provides convenience – Capture and deposit check images in centralized or decentralized locations
  • Saves time – Make deposits without leaving the office
  • Saves money – Lowers the cost of payment processing
  • Maximizes cash flow – Ensures deposits are made timely

ACH Debit Block Service

Control ACH debit fraud and unauthorized ACH debits by providing a list of those electronic transactions which are allowed to post. All other ACH debits will require authorization to post.

Features and Benefits

  • Puts your company in control of ACH debits
    • Only those debits that are approved will be accepted
    • Unauthorized ACH debits are rejected for verification
  • Provides flexibility
    • Specify parameters by amount, type code and originator ID
    • Pay or No Pay decision is made at the company level

Commercial Check Imaging – CD-ROM Check Image Storage

Establish a retention system for checks that have been paid on your accounts without relying on the expensive, cumbersome sorting and storage of paper checks. Statement image available via CD is included.

Features and Benefits

  • Increased efficiency for long-term storage and retrieval of check images
  • Easy-to-use method of researching paid checks
  • Ensures proper back-up and ease of retrieval when proof of payment or endorsement verification is needed

Wholesale Lockbox Service

Reduce the mail time, deposit preparation time, and check collection time associated with accounts receivable processing.

 Features and Benefits

  • Improves cash flow – Funds are deposited the same day of mail receipt, which reduces collection time
  • Increased information – Provides details about payments made, as well as all material from payments as needed
  • Reduces processing expenses – Saves on both the time and cost of processing payments

Zero Balance Account Service

Reduce idle balances through the automatic consolidation of subsidiary account funds into a single master account.

Features and Benefits

  • Consolidate account balances – Deposits from multiple accounts flow into one master account
  • Ease of funding disbursement accounts – Allows multiple locations to write checks with funds transferring automatically from the master account

Sweep Service

Automatically pay down or draw from your line of credit or invest funds in an interest bearing account.

Features and Benefits

  • Maximizes use of funds – Automatically transfers funds to and from an investment or line of credit account as needed
  • Minimizes interest expense while maximizing interest income
  • Eliminates or reduces NSF and overdraft charges