First Fidelity offers a variety of Treasury Services that facilitate efficient cash management for businesses of all sizes. Services are designed to not only help streamline cash flow, but to reduce the amount of time required to monitor accounts. As your business grows, your cash management needs change also. First Fidelity Bank offers services at all levels from basic depository services and Business Online Banking (B.O.B.), to Wholesale Lockboxes and Positive Pay. Pricing for all Treasury Management Services is available through a Treasury Management Specialist.
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First Fidelity Bank brings the bank teller to your office. You can scan and image your own checks without taking a trip to the bank. Enterprise Electronic Deposit (EED) enables business owners to deposit all checks and money orders over the internet, freeing up valuable time for your business.
- Improves efficiency and profitability
- Receive funds faster
- Eliminate the need to take checks to the bank
- Discover returned items quicker
- No need to purchase, install, or maintain the software
- No equipment to purchase
- Customizable deposit reports
- Researchable image archive
B.O.B. Enhanced provides cash management services available in a module format for additional fees. Modules included ACH Origination, Wire Transfers and Positive Pay.
- 24-hour banking convenience
- Secure environment
- Exports transactions to popular software
- Convenient and inexpensive way to pay transactions electronically
- Online Bill Payment Services
- BAI file format
- Electronic Data Interchange (EDI)
- On-line wire transfers
133 Mhz Pentium Processor, 32 Meg Ram, 33.6 kps Internet Connection, Windows 95 or greater. Explorer 4.0 or greater or Netscape Navigator 4.0 or greater or Netscape Communicator 4.7 or greater.
Positive Pay is one of the most sophisticated cash management services available. In this process, the company and bank work together to detect check fraud by identifying items presented for payment that the company did not issue. The company transmits a file of issued check information to the bank each day. The bank matches serial numbers and dollar amounts of checks presented for payment against the issue file, and pays only those checks that match. Exceptions are conveyed to the company for disposition.
- Highly effective defense against check fraud
- Multiple layers of security
- Inexpensive compared to potential losses from fraud
- Allows management intervention on questionable checks
ACH is an electronic transfer system, which enables a company to initiate electronic debits (receivables) or credits (payables) with one-day availability. This system can be accessed by using B.O.B. (Business Online Banking).
- Increases efficiency – electronic processing vs. paper processing
- Increases security – Fed transmissions use encrypted lines for security
- Reduces expenses and improves convenience
- Increases reliability – transactions are totally predictable
- Reduces processing costs
- Reduces reconciliation and cash application costs (ACH credit)
- Increases availability of funds (ACH debit)
ACH Blocker is a fraud protection service that prevents the processing of unauthorized electronic debits. This highly effective defense service assists in the monitoring of your accounts for fraudulent activities.
Wholesale Lockbox is a collection system that receives, processes, and deposits mail receipts and associated checks. Wholesale lockbox procedures are customized to provide exactly what you need (i.e., photocopies of checks, data capture, etc.). Deposits are made early in the morning to maximize check clearings while remittance data and check information is available for account receivable posting later that afternoon. If the data capture option is utilized, accounts receivable information is manually key-entered and reports are generated in paper format or transmitted electronically via data transmission or diskette.
- Improves cash flow position
- Decreases check clearing time
- Reduces clerical costs
- Improves internal control-separates receipts and posting functions
Account Analysis is a feature that allows commercial clients to utilize all the available balances in multiple accounts to offset service charges and fees.
All commercial accounts are tied together and paid Earnings Credit before calculating the service charges and applying any fees. The Earnings Credit is applied to the monthly average collected balance and is used to offset fees for monthly maintenance, transactions, cash management and most additional banking services. The Earnings Credit rate is based on the bank's interest rate index
A Target Balance Account (TBA) maintains a specified balance through an automated transfer between the company's master account and sub accounts (i.e., general account, operating account, etc.).
- Eliminates monitoring and manually transferring funds from collection or to disbursement accounts
- Provides maximum control over balances and funding
- Eliminates idle balances in non-interest bearing accounts
- Eliminates more costly funding methods (i.e., wire transfers, internal transfers)
*A TBA cannot be established for an Employee Benefit Account or like account.
A Sweep Investment Account is an investment service that transfers funds in excess of an agreed upon target collected balance into a variety of overnight investments. Required funds are swept back into the company’s demand deposit account as needed to cover daily disbursements. A prospectus will be provided so that details of this account can be evaluated.
- Improves control over cash flow
- Maintain liquidity while earning maximum rates
- Provides minimal risk at competitive rates
- Increases additional income
- Gain interest on otherwise idle funds
- First Fidelity Cash Sweep Account
*The products offered are not FDIC insured. Products are not deposits, or other obligations, or guarantees of the bank, and are subject to investment risks, including the possible loss of principal amount invested.
A Maximum Asset Management Account functions as a sophisticated three-way sweep cash management product designed for commercial clients. By design, it fully automates transfers between various accounts with the primary objective of optimizing your cash flow. It minimizes interest expense on a revolving line of credit and maximizes income.
One demand deposit account is identified as the "main" account. The main account act as a "hub" through which all automated transfers will flow.
Working with you, we will establish a target balance to be maintained in each account and the "incremental" account to be swept as automated transfers are made.
One or more "sub" demand deposit accounts may be tied to the main account. Sub accounts may be established with their own separate target balances and increments. Common examples may be payroll accounts, individual store or department accounts, etc. Sub accounts may be used to allow a client to have individual store's or department's deposit accounts only and then have all the funds flow up to the main account. Alternatively, a sub account may be a payroll account in which the client does not make deposits, but draws all payroll checks on a separate account and then uses the main account to cover the payroll account only as the payroll checks clear.
- Minimizes your interest expense on a revolving line of credit
- Maximizes your income through investment in a mutual fund sweep account
With PayExpress, you get instant access to your money without the hassle of dealing with checks.
- Immediate access to cash at any ATM
- Reduces payroll processing expenses for companies
- No credit check required
- Economical for employees
- Eliminate expensive check cashing fees
- Use as a debit card
- Make purchases anywhere Visa is accepted
- Account information available 24/7
- Free Customer Service - talk to a real person!
- Free account access at www.ffb.com
- Free telephone banking on Direct Line 24