Treasury Management
KEEPING YOUR BUSINESS FINANCES ON TRACK
WHILE INCREASING YOUR CONTROL OVER CASH FLOW
Our Treasury Management team is ready to consult with you to determine which of our business banking solutions can help your business stay on track and reach your company’s banking and financial goals.
As your company adds new markets, products or employees, our resources can help manage and control daily financial planning and automate:
- Cash Management
- Receivables
- Payables
- Fraud Prevention
Cash Management
- BillPay
- Transfers
- Electronic Statements
IntraFi Network Deposits offers a solution that is safe and simple to allow for multi-million-dollar FDIC Insurance through a single bank relationship. IntraFi Network Deposits are available for consumers, businesses, non-profits, and municipalities.
Receivables
Using the Automated Clearing House (ACH) network, your business can electronically collect payments from external bank accounts, providing a convenient and secure way of managing receivables. It allows you to be paid more quickly by collecting recurring amounts owed, including fees, rents, and payments automatically from customers, members, tenants, or individuals.
With Remote Deposit Capture (RDC), you can scan checks for deposit into your business accounts without leaving your office, saving both time and money.
RDC makes funds available faster, reduces trips to the bank, enhances security, and improves efficiency. Installation is simple; we provide the equipment, software, and training.
In Partnership with Michigan Retailers, Grand River Bank offers a balanced approach to payment processing. Michigan Retailers provides a flexible platform that allows you to tailor payment processing solutions for your business.
We can help you get in contact with the right people or call Burke Sage directly at 517.927.6117.
Used for the receipt of payment from customers, these payments are directed to a special post office box instead of going directly to your business.
Your payments will be retrieved from this Lock Box and the funds will be deposited directly into your specified bank account.
Payables
Using the Automated Clearing House (ACH) network, your business can electronically make payments to external bank accounts, providing a convenient and secure alternative to paper check, web, or credit card payments. It allows you to electronically pay vendors and employees, either one-time or recurring payments and initiate federal and state tax payments.
Wires allow money to be moved quickly and securely via an electronic funds network from one financial institution to another. There are two types:
Domestic
Transfer that happens between two different banks within the US and usually settles the same day. They require the beneficiary’s name, address, and bank account information.
International
Transfer that happens between two countries and usually settles within two business days. They also require the beneficiary’s name, address, and bank account information.
Fraud Protection
Positive Pay matches your account number, check number, and the amount of each check presented for payment against a list of checks previously authorized and issued by your company. If a check does not have a “match” in the file, it becomes an “exception item”. You then decide if the bank should pay or return the suspect items.
If your business has frequent staff or vendor changes, has experienced check fraud, or you simply want to increase internal controls, Positive Pay provides a convenient, cost-effective way to protect against fraud.
