To many organizations, smart cash management simply means billing quickly, and making sure there's more money coming in than going out.
But that's just the beginning. As Torrey Pines Bank clients know, there are many cash management strategies that businesses can use to improve cash flow, and minimize fees and interest paid while optimizing cash balances and interest earned. Smart cash management can help you get ahead of the game.
At Torrey Pines Bank, we have a highly experienced team of cash management professionals who will work with you to determine the best strategies for your business. Our experienced bankers can analyze your account activity and balances, to recommend an optimum efficiency and structure, with emphasis on streamling processes.
We offer tools to help you efficiently collect receivables, manage payables, monitor account activity and maximize investments-to make your cash work harder for you. Following is a selection of cash management tools we offer.
To learn more about putting any of these tools to work for you, talk with a Torrey Pines Bank cash management professional today.
Account Reconcilement
Balance your company's checkbook quickly and easily
Torrey Pines Bank account reconcilement service gives you an automated way to balance corporate accounts on a daily, weekly or monthly basis. We offer full or partial reconcilement services that may be customized to meet your individual needs and work with your specific accounting system.
Positive Pay
This service can be used to help monitor potential fraudulent activity. Clients send an electronic file of checks issued. Torrey Pines Bank matches this list against items being cleared, and pays only verified checks. This service also allows for every day monitoring of items paid, to assist in daily cash flow position.
Automated Clearing House (ACH) Services
Faster, more accurate payments and collections
ACH processing allows your company to take advantage of the speed, accuracy and efficiency of electronic payments and collections:
ACH Credit
- Electronically disburse payments to consumer and corporate customers and suppliers.
ACH Debit
- Collect payments electronically from consumer and corporate accounts.
E-Deposit
Faster deposits to your accounts
With E-Deposit clients are able to deposit checks directly from their computer or desktop. Images of checks are scanned and sent electronically to Torrey Pines Bank for credit to their business account. Torrey Pines Bank then converts the images to an electronic file, or substitute check, for clearing at the payor's bank.
Lockbox Service
Automatically handle incoming payments
Torrey Pines Bank's Lockbox Service provides you with a post office box for payments sent to your company. We retrieve, process and deposit funds daily so there's no delay in getting money into your account. All deposits are imaged, so that they're available for viewing via the web on the same day. If preferred, information can be gathered from check and remittance coupons and formatted in a data file. You can review deposit reports, on CD, to see who and what has been paid.
Zero Balance Accounts (ZBA)
Simplifies fund consolidation and eliminates manual fund transfers
With Torrey Pines Bank's Zero Balance Account, incoming deposits are immediately moved to the concentration account you designate. For outgoing disbursements, via paper or electronic, funds needed will be pulled from the account you've designated.
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