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Cash Management Services

Show your finances who’s boss.

Take control of your finances and keep your business running smoothly with a full line of Cash Management products and services from Simsbury Bank. This will give you more time to focus on managing your business while reducing the time and cost associated with managing your cash flow. Whether you need to view and conduct business online or are looking for automated financial services, we provide a comprehensive package tailored to your unique business needs.

  • We will review and analyze your current cash management systems and identify new opportunities to keep your business running efficiently and effectively.
  • We will develop a cost benefit analysis to demonstrate the value of our recommended solutions.
  • We will also assist in the implementation and training of the new services to your staff.

With Simsbury Bank’s state of the art Cash Management Services, you can collect and disburse payments as well as provide transactional details 24/7. We are here to help you find ways to lower payment costs, remove paper from the process, and automate payments. Simsbury Bank is equipped to be your complete financial partner.

We have the professionals, the technology, the branches, and the products to provide a complete cash management system:

Cash Collection

Remote Deposit Capture

Scan your paper checks and electronically send the images to Simsbury Bank for deposit using a secure transmission process called Remote Deposit Capture. Save time and put your cash to work faster for you.

  • Deposit checks from your PC, 24/7
  • Consolidate deposits from multiple locations
  • Reduce costs for trips to the bank and deposit tickets
  • Improve cash flow by getting money into your accounts faster
  • Convenient late end of day cutoff so you can process as many deposits as possible

Automated Clearing House (ACH)

  • Reduces risk of check fraud
  • Creates payment schedules easily for single or recurring payments
  • Reduces wait time normally incurred by check processing

Lockbox Services

Have your customers mail their payments to a special post office box from which bonded staff gather the deposits several times a day for deposit into your Simsbury Bank account. Receive images and a report of real-time activity via a secure internet site.

  • Reduces mail float
  • Ideal for collections and tax payments
  • View next-day reporting of deposits made and by whom
  • Standard and customized reporting available online in real time
  • Offered by our partners at Lighthouse Payment Services

Merchant Processing

Give your customers the convenience of paying with credit cards through our partnership with Capital Bankcard.

  • Accept virtually every kind of electronic payment, including all major credit cards, debit cards, and gift cards
  • The most knowledgeable support personnel in the industry
  • The ability to support several types of accounts such as Storefront, Telephone Order, or Internet based businesses
  • Offered through our partner CapitalBankcard

Cash Disbursement

Automated Clearing House (ACH)

  • Provides a low-cost alternative to wire transfers
  • Direct deposits for payroll, tax payments, vendor/supplier agreements and other disbursements
  • Reduces risk of check fraud

Domestic and International Wire Transfers

Move funds quickly, safely and securely anywhere in the world. Available at any branch or online.

  • One-time or recurring transfers from your own PC
  • Send or receive high-dollar transactions
  • Reduces risk

Positive Pay

  • Reduce risk of check fraud
  • Receive online alerts of discrepancies
  • View check images and make immediate pay/no-pay decisions
  • Stop payments before the money ever leaves your account

Payroll Processing

  • Payday, quarterly, and end-year-of-year processing
  • Compliance with all federal, state and local tax codes
  • Online or phone payroll entry and submission
  • Payroll deduction plans for employee benefits, 401k plans, Health Services Accounts, and more
  • Offered through our partner, Integrated Employer Solutions

Commercial Letters of Credit

A letter of credit helps protect you as a buyer or seller against potential error and risk. We offer this service to settle payments for goods and services, and take responsibility for making the payments after we ensure the beneficiary has met pre-set conditions for payment.

Funds Management

Analysis Checking

For larger businesses, or those with a high volume of transactions, this account may provide an ideal solution. Plus, our business checking accounts bring you the same personal experience you can expect from a community bank like Simsbury Bank.

  • Ideal for high-transaction volumes
  • Provides a monthly analysis statement with details on balances, services used, and earnings credits calculations
  • Earnings Credit Allowance can offset some or all of the monthly fee

Business Sweep Account

Use the Cash Management tool on Simsbury Bank Online to have excess funds automatically invested in higher-yielding accounts overnight for maximum earnings.

  • Automatically moves excess cash above your predetermined minimum following end-of-day reconciliation into an investment account overnight
  • An excellent tool for supplementing investment income while ensuring liquidity
  • Puts excess funds to work—link to your main operating account with automated transfers as needed

Credit Cards

Businesses come in all shapes, sizes and cash flow needs. So Simsbury Bank offers a variety of business credit cards to accommodate those differences.  For small businesses and large corporations, non-profit organizations and municipalities, and everything in between, we have a credit card solution that fits.

  • Visa Business Bonus Reward Card
  • Visa Business Bonus Reward PLUS Card
  • Visa Business Card
  • Visa CommUNITY Card
  • Visa Signature Business Company Card

Additional Tools

At Simsbury Bank, we want you to Bank this way. We can help, with customized financial products and services, which simplify and automate the flow of money throughout your organization.

Online Banking

  • A single log-in provides access to account activities where you can review transactions by type, check, date ranges and by amount

Mobile Banking

  • Access to your accounts from virtually anywhere you are, on your schedule

eStatements

  • View paid checks and deposits
  • Enables data to be easily saved to your business network for storage and retrieval

Account Reconciliation

  • Track account activity with detailed reports

Call our Cash Management Officer today at 860.651.2066 to discuss your specific needs.

Simsbury Bank

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