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Cash Management Services

Predicting how much cash you’ll need and when you’ll need it is one of the many challenges of being a business owner.

For example, you may offer customers payment terms up to thirty days. However, payments arriving intermittently over the course of a month won’t help if your cash balances are low and you need to make payroll tomorrow. Conversely, account balances exceeding your current cash needs lay idle, when they should be generating earnings.

This is why you need Revere Bank’s cash management services (a.k.a. treasury management services), utilizing one or more of the following products and services.

Cash Concentration Strategies

Simplify and streamline your cash management system by consolidating balances into a single master account. You may reduce your cash reserve needs by doing so (since you won’t have to meet the balance requirements on multiple accounts), plus you can easily determine if you have excess funds to move into an interest-bearing account until you need them.

Direct Debit

Why wait for customers to mail checks or stop in to pay with cash? Sign them up for recurring automatic payments. Conversely, don’t pay invoices sent to you upon receipt; instead, earn money on those funds right up until the due date.

Escrow Management

You may need to segregate some funds for specific purposes, like infrequent property-related bills (e.g., taxes and insurance) or customer prepayments.

Internet Banking

Manage your money, or make necessary last-minute changes, anytime and anywhere you have an internet connection.

Merchant Processing

Improve service by offering payment options besides cash and check. Quickly and easily collect payments by accepting common brands of debit, credit and gift/stored value cards.

Direct Deposit of Payroll

Disburse net pay to employee accounts at any bank.

Remote Deposit

The faster you get customer checks to the bank, the faster you get paid. And what could be faster than depositing checks from your own desk by using a scanner and software provided by the bank? Remote deposit means one less time-consuming trip to the bank in your busy day.

Sweep Account

Earn money on balances by automatically “sweeping ” funds exceeding a predetermined maximum balance into an investment account, followed by an automatic “sweep” back into checking when balances drop below a predetermined minimum.

Zero Balance Account

Eliminate the need to track and fund individual disbursement accounts, thus eliminating the risk of overdraft and maximizing investment potential.

No two businesses are alike, and neither are their cash management (treasury management) needs. If you’d like more information, call Ray Rohde at 240-264-5375. Ray will gladly answer all of your questions. You can also click here to fill out an online contact form and we’ll respond promptly.