Treasury Management
- Sweep Accounts - combine two or more accounts and move funds between them in a predetermined manner. Useful in managing a steady cash flow between a cash account used to make scheduled payments, and an interest bearing account where the cash is able to accrue a higher return.
- Positive Pay – An automated fraud detection tool that matches and verifies checks issued from your business, using an approved transaction list, against those presented for payment.
- Lockbox – Faster collection and processing of funds, cost savings by eliminating payment processing, detailed audit controls, same-day and internet-based reporting, plus added convenience.
- Remote Cash Capture – Provides the ability to deposit your cash into a “smart safe” at your place of business that scans bills, secures your cash and transmits a daily posting file to HCN Bank for credit into your depository account. The currency is stored in locked cassettes for secure retrieval by an armored carrier at a later date, which will deliver it to the Bank vault for final reconciliation.
- Remote Deposit Capture – Make deposits anytime, electronically, 24/7 with a table-top scanner at your location and your convenience. Our web-based software automatically processes scanned check totals to your account. Deposits made on a business day up until 7 pm PST are reflected the same day.
- Check Imaging – Streamline transaction processing and record keeping with check imaging.
Deposit Services
- Analyzed Checking - Offers a summary of account activity over a period of time, including measurement of data and costs.
- Collateralization of balances in interest bearing accounts.
- Money Market Accounts - This is an interest bearing savings account.
- CDs – Certificates of Deposit - Savings certificate with fixed maturity date, specified fixed interest rate, issued in any denomination aside from minimum investment requirements. Restricted access to funds until the maturity date of the investment.
Zero Balance Accounts
HCN Bank's Zero Balance Accounts (ZBA) are special purpose accounts (payroll, operating, vendor, multiple locations, etc.) that are linked to a master account. The ZBAs maintain a balance of $0. All deposits made to the ZBA sub accounts are automatically transferred to a master account, and all checks and withdrawals posted to a ZBA sub account are automatically funded from the master account. The structure is flexible and can be tailored to the needs of the business.
Benefits of a Zero Balance Account
- Eliminates time spent on manually funding subsidiary accounts
- Eliminates the need to track balance levels and funding requirements
- Saves clerical time and expenses
- Maximizes funds available for investments and minimizes risk of overdraft fees
- Permits easy tracking of transfers and reconciliation through cross-referencing account numbers on Bank statements
Merchant Services
- Merchant Services – Merchant Services allows for efficient, secure and convenient processing of credit and debit card payments. In managing your money better using credit/debit card and online payments you have the opportunity to streamline transaction handling, avoid check fraud and increase your sales by adding convenient payment options for your customers. HCN Bank partners with a third party vendor that offers secure processing, consolidated statements, and next day funding.
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