Cash Management Services

You're busy and you are searching for ways to make managing your finances easier. Citizens National Bank would like to offer you a sophisticated set of online tools that can be customized to suit any business, ensuring your cash balances are constantly working hard for you.

With electronic cash management, you may access your account 24 hours a day, seven days a week anywhere an internet connection is available. By utilizing such features as daily balance reporting, electronic cash management and direct deposit you'll find that you are able to reduce the amount of time and money you spend managing your finances. Contact us today to take full advantage of cash management. A CNB banker will answer your questions and help you get started.

Stop Payments

Gives you the convenience of making stop payments on-line, which will save you valuable time.

Direct Deposit of Payroll

Although primarily used for the deposit of payroll, direct deposit can also be used for expense reports, benefits, commissions, or interest and dividend payments. The benefits of direct deposit are limitless!

Benefits

• Increased reliability and security. To protect your business from fraud we have installed security features, such as encryption and firewalls to secure your online transactions.
• Convenience for employees. Employees can access their payroll check on a timely basis, even during vacation, holidays and business trips.
• Saves time. Employees no longer have to spend their lunch hour driving to the bank to deposit their payroll check.
• Saves money. Most financial institutions charge more for paper transactions than they do for ACH transactions.

Cash Concentration

Allows a business with multiple locations and/or deposit accounts at multiple banks to electronically consolidate all daily deposits into a central depository account.

Benefits

• Saves time and money. Avoid printing expensive drafts/checks and making multiple daily deposits.
• Increase interest earnings. As funds are consolidated and deposited faster you can earn more interest.
• Improved cash management and forecasting.

Corporate Payments

Allows the collections and disbursement of funds and information between corporations. Businesses can simply set up payments and then the payments can be sent to other businesses.

Benefits

• Saves money on postage. No more rushing to your local post office to buy stamps.
• Improved cash management and forecasting.
• Saves time. Eliminate the time spent writing and reconciling checks.

EFTPS Tax Payments

Enables you to pay your taxes securely over the internet, eliminating the current paper-intensive process.

ACH Origination

An Automated Clearing House (ACH) transfer is the electronic transmission of a file which contains information pertinent to the movement of funds between accounts. ACH is commonly used to expedite direct deposit of payroll, pay bills, concentrate funds from other financial institutions or collect membership dues.

Target Balance Accounts

Allows you to maintain a checking account without the unproductive excess cash balances. Each day your account will start at a specified balance, throughout the day the account will be debited and credited as payments are made and received. At the end of the day, your account will be reconciled with a central account and it will return to the target balance once again.

Benefits

• Saves you time and money. Eliminates the time normally used to monitor multiple accounts and eliminates the risk of costly overdrafts.
• Creates less work during tax time. The detailed monthly statement summarizes activity for each target balance account and provides a clear audit trail.

Controlled Disbursement Account

These accounts are not funded until items are presented for payment, which minimizes idle balances by allowing you to maintain a zero balance.

Benefits

• Saves you money. Minimizes overdrafts and eliminates the guesswork involved with funding disbursement accounts.
• Increase earnings. Maximizes interest earnings on your cash resources by disbursing funds only when checks clear.

Excess Cash Sweeps

An automated service that systematically works to ensure that all excess collected balances are used to their maximize potential.

Benefits

• Reduces your interest expense. Excess cash balances can be used to pay down loans.
• Maximizes earning potential. Increases your interest earnings by depositing excess funds nightly.

Minimum Balance Accounts

Allows you to link accounts to ensure that it will never go below a specified balance to ensure maximized earnings potential.

Additional Cash Management Features that will save your company time and money.