Cash management

The total solution for managing your business’s transactions with ease and assurance.

Making deposits and payments, processing transactions, transferring funds, growing your money while keeping it all organized and protected from fraud are daily responsibilities for businesses. It’s complicated and time-consuming and takes you away from your customers. Webster Five’s Cash Management services can minimize this burden so you can focus more on running your business.

For more information or to sign up for any of the following services, contact our business banking team at 508-890-8606 or email us.

Remote deposit capture

No more running to the bank before closing or taking valuable time away from your business. With remote deposit capture, you can scan checks at your office for electronic deposit. Secure 24/7 data transmission enables you to remit deposits during nonbanking hours and increase cash flow by depositing checks sooner.

 

Merchant processing

Webster Five partners with Capital Bankcard New England to provide cost effective, reliable processing of credit card transactions, including:

  • Visa
  • MasterCard
  • American Express
  • Discover

Transactions are automatically credited to your Webster Five business checking account within 24 hours of closing your batch. If you already accept credit cards, call to schedule an in-person analysis of your existing service and equipment to compare rates and to see whether your equipment is up to date. Call 860-774-8210 or email us today for your free rate review.

Positive pay fraud protection

Implement strong fraud protections for your business accounts. Webster Five offers Check and ACH positive pay, which allows you to monitor transactions processed for payment against your accounts and gives you the ability to reject unauthorized transactions before losses occur.

Zero-balance account (ZBA)

If you have multiple accounts, a zero-balance account will automatically consolidate funds from those accounts into a master account at the end of every business day to maximize funds for investing or debt reduction. The master account covers any checks written against the other accounts and consolidates all remaining funds. Save time by automating manual transfer of funds between your business accounts.

ACH origination service (ACH)

Make payments the easy way. ACH origination enables direct deposit of payroll, business-to-business payments, and other electronic transactions. ACH payments reduce paperwork and prevent lost or stolen checks while lowering processing fees. ACH origination also aids in cash forecasting and float management.

Electronic data interchange (EDI)

Updating receivables made easy. EDI provides timely reporting on electronic payments received to your business account with remittance data such as invoice numbers or Explanation of Benefits (EOB). A readable remittance advice is provide electronically allowing accurate, timely updating of your receivables.

Lockbox service

Get your businesses payments into the bank sooner while automating and simplifying the account receivables process. Stop handling paper- go electronic with ease. Webster Five offers Wholesale, Retail and Integrated Receivable Lockbox Services.

Business bill pay

Designed for businesses of all sizes and types. Save time and money while gaining more control over payables with Business Bill Pay. Highlights include the ability to have multiple users with various account access levels, transaction type and dollar limit, reporting, recurring payments and more.

Corporate business credit cards

Visa Business Credit Cards that help your business manage cash flow, track expenses while providing you and your authorized employees the ease of paying for goods and services with a Business Credit Card. Webster Five offers a variety of specialized cards specifically tailored to your business. Community cards for non-profit and muncipals, Signature Visa Business Card for those with over $15M in net sales as well as a Visa Business Rewards Card that offers cash back, miles, gifts and more. Let discuss which card works best for your business!

Electronic federal tax payment system (EFTPS)

Save yourself the time and headache of mailing tax payments. The U.S. Department of the Treasury offers a free tax payment system designed for business owners. Your company’s tax payments can be made online with personal computer software or by telephone and automatically deducted from your Webster Five checking account.

Investment sweep

This is the best way to keep your company’s money working for you. All funds above a predetermined target balance are transferred daily to an interest bearing account that is fully FDIC and DIF insured. Full liquidity with interest returns, and your company’s money is never idle.