<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=591308824738648&amp;ev=PageView&amp;noscript=1">
Online Banking
pillar-brush

The Ultimate Guide to Business Banking

In this guide, you will learn business banking best practices and ways to better manage your hard earned money.

chapter six purple
CHAPTER SIX:

Improve Small Business Cash Flow with Treasury Services

Do you think only large commercial businesses should consider treasury services? The fact is, treasury management services can save considerable amounts of time and money for small and medium-sized businesses. But what are treasury management products? And how do they work?

We’ll answer your questions on treasury management and how treasury services apply to businesses like yours:

What are treasury services?

Treasury services include the functions related to business banking that are not considered lending activities, deposit account activities, or savings and investment activities.

For example, a bank’s treasury management techniques help businesses with tasks that feel time-consuming and tedious to manage, such as online banking, bill pay, payroll, ACH transactions, fraud protection, and more.

So, what ARE treasury services in banking? Essentially, the concept of treasury management is intended to help guide a company’s cash flow in ways that are more efficient and less costly, so that business owners can spend their time on more substantive tasks. 

Benefits of a treasury management system

There are many reasons small and medium-sized businesses choose treasury management services. Here are some advantages of treasury management:

Automate Tasks
 
Idle funds are a sign that your money and time are being wasted. A bank’s treasury management systems move your cash where it needs to go, reducing overdraft and late fees and making every dollar count.
 
Increase Efficiency
 
Do you spend a lot of time trying to figure out the cheapest way to send money? Paying bills manually? Taking checks to the bank? Treasury and cash management services eliminate time spent by you and your employees on time-consuming activities.
 
Increase Payment Options
 
Consumers expect to be able to pay for products or services in whichever way is most convenient for them. However, setting up your business to accept all of these forms of payment and then manage the records can drain your resources. Treasury operations handle payments in a way that boosts your cash flow.
 
Prevent Fraud
 
Treasury services management professionals are on top of the latest security methods. Check management services can help your business avoid being duped by check fraud and other payment scams. 

What treasury services are available?

Even small businesses can have access to top-quality treasury management services. Here are some examples of treasury products to look for:

Collection Services:

 
Merchant Services
 
The primary purpose of merchant services is to allow your business to accept a variety of payment methods from customers, and help you get the cash from the transactions as quickly as possible.
 
Merchant services facilitate credit and debit card processing, electronic payments, data storage compliance, and tracking invoices and payments that are due.
 
Lockbox
 
Lockbox services direct mailed payments to your bank rather than your business location. The bank then accesses and deposits the payments rather than having your employees apply and deposit the checks.
 
Remote Deposit
 
With treasury services, cash management is simplified. Remote deposit allows businesses to scan checks in order to deposit them, rather than making a trip to the bank. This requires special equipment and management by your treasury services provider.
 
ACH Debits/Collections
 
Automatic Clearing House (ACH) service is a reliable way to collect and distribute payments with speed and efficiency. Treasury services manage ACH debits to ensure efficient and safe collection of payments from your customers’ bank accounts.  

Payment Solutions:

 
Direct Deposit
 
Paying contractors and employees can keep small business owners stuck behind their desks for days. Treasury services help businesses utilize ACH tools to complete payroll quickly and correctly.
 
Wire Transfers
 
In some cases, a wire transfer is preferable to an ACH transaction. Treasury management services will find the quickest and most cost-effective option, and help move cash accordingly.
 
Online Bill Pay
 
With treasury management, online bill pay is handled in a timely manner using methods that save you money. Merging treasury and accounts payable means that bills and vendors are paid on time from appropriate accounts, fees are reduced, and overdraft charges are prevented.
 
Business Credit Cards
 
Treasury services ensure that business credit cards are used and paid in ways that maximize your rewards and minimize interest expenses.
 

Liquidity:

 
Commercial Deposit Accounts
 
A commercial deposit account is a checking account used by corporations and businesses. Most commercial deposit accounts pay interest or earnings credits. Treasury services will manage your commercial deposit account for incoming and outgoing transactions.
 
Zero Balance Accounts
 
A zero balance account (ZBA) is designed for companies that wish to maintain separate accounts for general operations, payroll, petty cash, and other expenses. This method, managed by treasury services, saves time and costs, and helps businesses make smart decisions about how to invest excess cash. 

Supporting small businesses, supporting you: Vast Bank

Treasury services at Vast Bank can help you unlock greater potential in your business. What could you achieve in a day if someone else was managing the tedious tasks?

Please don’t hesitate to reach out to our skilled treasury services team with any questions. 
Copyright© 2024 Vast Bank, N.A. All rights reserved. NOTICE: Vast Bank, N.A. is not responsible for and has no control over the content of the web sites that have links here. Please contact us with any concerns or comments.
Member FDIC
Equal Housing Lender
X

You're about to leave our website.

Vast Bank, N.A. has no control over information at any site hyperlinked to or from this Site. Vast Bank, N.A. makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and is providing this hyperlink to you only as a convenience. The inclusion of any hyperlink does not imply any endorsement, investigation, verification or monitoring by Vast Bank, N.A. of any information in any hyperlinked site. In no event shall Vast Bank, N.A. be responsible for your use of a hyperlinked site.
> Proceed