Cash Management
| E – Corp | Collections |
| Merchant Services | Wire Transfer |
| Remote Deposit | Express Deposit |
| ACH | Sweep Account |
| Positive Pay | Zero – Balance Account |
| Vault Services | Check Imaging |
E - Corp
E - Corp allows account access 24 / 7. E-Corp provides qualified business customers with a sophisticated and flexible electronic cash management tool, with customized packages available.
The following services are available with E- Corp:
- Originate ACH transaction, such as company payroll, customer billing, tax and loan payments
- Cash concentration- transferring funds from various financial institutions via ACH into main corporate account
- Internal transfer - between NewFirst accounts, to maximize earnings and cash flow
- Loan inquiry and payment
- Wire Transfer - domestic and international
- Balance reporting
- Stop Payment
- Set up multiple users and permission controls for specific transactions
- View current and previous bank statements
- View transactions including images of all debits, credits and deposited items
- Download into financial programs including QuickBooks, Quicken and Money
To learn more about E - Corp and how it will benefit you, visit any NewFirst location or preview E – Corp at the Online Education Center.
Merchant Services
Merchant Services at NewFirst provides business customers with both credit card and debit card processing for all major cards including: VISA, MasterCard, American Express, and Discover. Equipment is available and may be either leased or purchased at a competitive price. Additionally, through Merchant Services, check guarantee service is available, so business customers may accept checks without taking the risk and cost associated with returned checks. Contact any NewFirst location for details to establish Merchant Services.
Remote Deposit
Remote Deposit utilizes a desktop scanner that connects to a PC and the Internet. With it, scan checks received from customers and issue deposits electonically to NewFirst National Bank, anytime day or night. It’s the quickest way to deposit funds into your account.
- Save time preparing deposits
- Consolidate funds from remote locations into one bank
- Cut costly courier fees or trips to the bank
- Reduce the risk of check fraud
Remote Deposit is available to certain qualified commercial customers who have an account with NewFirst and are enrolled in E – Corp. To preview Remote Deposit, visit the Online Education Center.
ACH
ACH allows any company to create electronic payments and deposits. It is used for a wide variety of payments and deposits including direct deposit of payroll and payments to vendors.
- Originate ACH transactions when and where you want safely and quickly
- Cost effective way to handle routine transactions
- ACH provides a simple method for properly formatting your data, allowing NewFirst National Bank to process the transactions electronically
NewFirst business customers must be enrolled in E – Corp to utilize this service.
Positive Pay
Reduce the risk of fraudulent activity on NewFirst accounts with Positive Pay. NewFirst National Bank will work with the business customers to identify unauthorized transactions before final payment is made. The customer can verify that checks and other items issued are not tampered with and clear the account as intended.
- Originate daily check files in CSV, PRN, or TXT extensions and upload this information to NewFirst National Bank through E – Corp.
- Checks presented for payment are compared to the uploaded file and any discrepancies are reported to the customer by email.
- Customer approval is required on all checks with discrepancies and are pended until approval is received.
- Single check entry is available directly into E – Corp without file upload.
- System can receive issued checks, voided checks and stop pay checks.
This is a double verification method that helps protect the customer and the customer’s business against fraud. Positive Pay is available to NewFirst commercial customers enrolled in E – Corp.
Vault Services
NewFirst National Bank’s Vault Services include deposit processing and cash change orders for NewFirst commercial customers who have cash intensive businesses. The fees for Vault Services are $2.00 per $1,000.00 in currency and $.08 per coin roll.
Collections
Collections is a service that allows for the collection of drafts. NewFirst National Bank will send out a collection letter, receive the funds and deposit the funds into the account as soon as the funds are received. When the funds are received there is no risk of them being returned.
The Collection fees are:
- Incoming Collections $5.00
- Outgoing Collections $10.00
- Unpaid Collections $5.00
Wire Transfer
Send funds quickly and securely online from NewFirst National Bank to another financial institution though E – Corp. As soon as the wire is received the funds are considered collected and available for immediate use.
- Immediate delivery of outgoing wire transfer instructions to NewFirst Wire Department
- Dual Control parameteres can be established
- No call backs
- Ability to transfer repetitive and non-repetitive wires
- Discounted pricing through E - Corp
Outgoing wire transfers may be transferred the same business day before the cut-off time of 2:30 p.m. Outgoing wire requests received after 2:30 p.m. will be transferred the next business day.
Express Deposit
NewFirst National Bank may provide business customers lockbox processing that will speed deposit processing and optimize the use of funds.
- Local lockbox locations
- Rapid check clearing
- Accelerated funds availability
- Efficient and accurate receivables processing
- Web – based access to cash flow information and image – based transactions
- Reduced in – house clerical expenses
- Customized data entry and collection
Sweep Account
A sweep program that provides NewFirst customers a product to help manage cash balances.
- Balances begin to earn interest the day they are transferred out of the checking accounts
- Fund dividend income accrues daily and is paid monthly
- The Sweep Account can mail optional daily investment confirmations directly to the customer or just the monthly summary statement
Zero-Balance Account
NewFirst National Bank’s Zero-Balance Account automatically funds check disbursement accounts and transfers funds deposited from multiple accounts into the main operating account.
- Eliminate idle funds in the checking account
- Improve managing liquidity and operating cash
- Make automatic transfers from the main operating account
Check Imaging
Check Imaging allows NewFirst business customers to view the front and back images of their checks online in a secure environment.
- Better method of storing and receiving information on imaged checks
- View Bank statements online each month
- Print check images online
- Ability to enlarge check images for easy viewing
- Added online convenience
Checks may be imaged on a CD-Rom per statement cycle for a fee of $25.00 per month. Search for any check paid and obtain a copy of the front and back of the check on the CD-Rom.
