Cash Management

Manage your money securely on the go. RiverWood Bank’s cash management services protect your accounts without getting tangled in red tape.

Streamline your business banking with cash management so you can get back to what’s important: Your Business.

  • View real-time account balances
  • Transfer funds or stop payments
  • Define access levels for employees
  • Initiate ACH files, including direct deposit of payroll

Connect with our Cash Management Officer

Business Banking Online with Cash Management

Our cash management services take your business online and mobile, letting you stay flexible while making deposits, transfers or transactions. Along with all the features available with our standard online banking service, Business Banking Online provides your business with expanded online cash management capabilities.

User Customization

Give your employees only the access they need. Our cash management system allows you to set permission levels on an employee-by-employee basis. Which means the bookkeeper can view the accounts, while the manager can have access to make transfers. You can also set up dual control permissions – for example, allowing the accountant to initiate payroll but the office manager has to approve it before any transaction goes through.

Security

All of our cash management systems include several different types of security measures. Multifactor authentication through a token generates a new password for each user each time they log into the cash management system. Transactions can be processed with dual control – requiring two employees to take two simultaneous actions to access. With user customization, you can limit access and abilities per employee. We also use positive pay to provide an extra layer of security by matching ACH transactions against authorized transactions. All these efforts combine to reduce the risk of fraud or external attacks on your accounts.

Positive Pay

Protect your business against fraud losses due to forged, altered, or counterfeit checks. If a check is presented to your account and it does not match the information you provided to us, the check must be approved by you before it is paid. Monitor ACH debits and reject any unauthorized transactions before a loss occurs.

Online Wire Transfers

Transfer funds quickly and securely to accounts at other banks in the United States. With our online domestic wire transfers, you can easily pay vendors and suppliers or receive payment same day, promoting positive cash flow at your business. Sending money Internationally is also available.

ACH Processing

ACH processing is a cost-effective way to handle routine transactions, saving you time and money. Create and initiate payroll, vendor payments and debits, and rental payments through ACH processing. You have the option to receive email notifications of every ACH transaction to mitigate risk.

Remote Deposit

You can scan checks received from customers and issue deposits electronically from any desktop with the scanner installed. Anytime day or night. It's the quickest way to turn check deposits into cash.

  • Consolidate funds from multiple locations into one bank account.
  • Save time preparing deposits.
  • Cut costly courier fees or trips to the bank.
  • Reduce risk of fraud.

Connect with our Cash Management Officer today to learn more

Visit any RiverWood Bank location or call (888)751-5120 to speak with a banker.

 

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