Cash Management

Cash Management is the art, and science, of managing a company’s short-term resources to sustain its ongoing activities, mobilize funds, and optimizing liquidity.

Collections

  • Satellite Deposit - Gives the client the option of scanning checks to make depositing money more efficient and convenient from their place of business; eliminates physical travel time of the checks / employees to and from the bank to make deposits.
  • Lockbox
  • ACH Direct Debit - An automated clearing house system for electronic collection of payment with controlled settlement timing, increased reliability and security.
  • Wires - Provide a safe and fast way of transferring money domestically or internationally between different banking institutions and accounts.
  • Cash Vault - A convenient process for businesses to make large cash deposits and order cash for daily operations with the security features of armored carriers or bonded couriers.
  • Merchant Processing - Collecting payments for products or services sold via credit cards. This service allows our clients faster accessibility to their outstanding accounts receivable monies.
  • Third Party Depository Services

Concentration & Liquidity Management

  • Compensating Balances - Based on total account balances, HBB customers will have the opportunity to earn credits that minimize service costs associated with their accounts
  • High Balance Savings - An account that earns interest on the balance that exceeds the minimum requirement.
  • CDs - A savings instrument established for a particular time period, which earns a fixed rate of interest typically higher than a basic savings account.
  • Sweep - An automated system that utilizes a line of credit to manage the cash balances between multiple entities without commingling of funds while maintaining autonomy within each account
  • Internet Banking - A reporting system that allows companies to manage all facets of banking while providing real time monitoring of accounts
  • CDARs - This program allows each customer to maintain up to $50 million in fully FDIC insured deposits with HBB

Disbursements

  • Commercial Card - A customized payment tool that leverages technology with integrated data provides a reduction of paperwork and streamlines the processes associated with business spending.
  • Direct Deposit (ACH) - Electronic payment system that reduces time associated with reconciling, issuing and posting of checks. Also provides access to domestic and international companies via electronic transmission of funds.
  • Purchasing Card - A customized card issuing program utilized for payment in the business to business exchange of services or products. This program provides comprehensive reporting, controlled spending environments and eliminates purchase order processing.
  • ARP - A service allowing HBB customers to efficiently reconcile accounts to company accounting records.
  • Positive Pay - Prevent fraudulent account activity by transmitting a list of outstanding checks to HBB. If a check does not match our records, you will have the opportunity to decline payments.
  • ACH Debit Blocker - A fraud prevention feature that determines who is authorized to debit your account via ACH.