Cash Management & Business Solutions
Cash flow drives your business. Now, with Online Cash Management from Select Bank, you drive cash flow, taking your business further and faster. Effective. Efficient. Secure. Convenient.
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After your accounts are established, Business Online Banking is the cornerstone service used to manage your business accounts whenever you want from wherever you are. Instead of calling or stopping by the bank, simply go to selectbank.com, log-in, and the information you need is there. With Online Banking, you can:
- View recent banking transactions, including checks paid and deposits made to your account(s).
- Confirm account balances.1
- View your statements and images of your checks.
- Transfer funds from one Select Bank account to another.
- Make a payment on your Select Bank loan or line of credit.
- Move funds from your line of credit to your checking account.
- Communicate with us via a Secure Message Center.
- Download account information for recordkeeping.
- Integrate your banking with QuickBooks or Quicken.
- Issue stop payment orders.
Business Bill Pay User Guide
With Online Bill Pay you are able to pay your bills in just a few clicks, saving time and postage. In addition, you can set up repetitive payments, so bills you pay monthly or quarterly in the same amount can be processed without you doing a thing. Once your list of payees is set up, each with your unique vendor account number, you will be able to:
- Make online payments to vendors or individuals, setting up the amount to pay and the day it must be received.
- Set up recurring payments.
- View scheduled payments.
- View payment history.
Remote Deposit Capture allows you to electronically make check deposits right from your desktop. With a desktop check scanner and an Internet-connected computer, your funds will be available faster than ever and you never left your office!
- Make check deposits without coming to the bank.
- Receive confirmation of deposits made.
- Enjoy faster access to deposited funds.
Creating online wire transfers is a fast, reliable, secure way to disburse funds, accelerate payments, and reduce operating costs. All from your desktop. This is the most expedient method for transferring funds between your Select Bank business account and accounts at other financial institutions.
You can relax, knowing the internal control you need is still in your hands. Authorized employees will each use a unique Online Banking ID, password, and security token to access the wire transfer system. You establish the maximum dollar amount each employee is authorized to wire out.
For same-day processing, domestic wires can be initiated until 3:30 p.m. eastern time (U.S.) each business day. International wires can be initiated until 2:30 p.m.
- Safely and quickly send funds between banks using your secure tokens and security manager, which will generate a text code for each wire.
- Maintain control of total amount of funds disbursed from your account.
Through ACH, improve the efficiency and accuracy of payment processing while reducing expenses. At the same time, increase security, as you reduce the risk of lost or stolen checks, check fraud, and forgery. Typical ACH applications include direct deposit of payroll, payments to vendors, and collection of receivables.
ACH files must be received by the bank no later than 4:00 p.m. on any business day.
- Originate online direct deposit of business payroll.
- Create and send regular payments to vendors.
- Receive regular payments efficiently and effectively.
Select Bank & Trust offers business customers various fraud prevention services as a way to combat against check and/or ACH fraudulent activity on thier account before it results in a loss. Fraud prevention options:
- ACH Blocks and Filters Service
- ACH Positive Services
- Check Positive Pay Services