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Cash Management Services

ACH

Automated Clearing House (ACH) offers a flexible, automated and cost-effective payables solution. Customers have the ability to transfer funds from our bank to another bank to deposit, pay a vendor or make loan payments through ACH transfers. This service can be set up to occur regularly or even just once. ACH helps you reduce the costs of check printing and mailing. Other features include:

  • The ability to add payees one at a time or upload a list of payees.
  • Create groups of payees to make scheduling and tracking easier to manage.
  • Create a batch within online banking or upload an ACH file for processing.
  • Enter transactions before 5 PM CST to begin processing the same day; we'll settle in one to two business days.

Bill Payment

HFB's free Bill Payment service gives you access to pay your bills through our free online banking system. Payments are made by either ACH or by check.

Payroll

HFB Payroll provides a safe, quick method to deliver wages to employees without the need for issuing a check. Benefits include:

  • Eliminates the need for issuing payroll checks
  • Wages are automatically deposited into employee's accounts
  • Safe for the employer and employee by reducing the need for large amount of cash
  • Eliminated the cost to mail or replace checks
  • Simplifies the account reconciliation process by reducing the number of payroll debits

Wire Transfer

We offer both domestic and international wire transfer service. Domestic wire transfers may be requested in person, via fax through a secure dedicated line to HFB with call back feature, or through our online Wire Origination feature. Through our online Wire Origination, user access and user approval authority is tailored to meet your business needs and your setup requests. International wire transfers may be made in person or via fax through a dedicated line to HFB with call back feature.

Positive Pay

Is a feature of our internet banking system that can be an extremely valuable tool for businesses to combat fraud. Positive Pay works by allowing a business customer to either manually enter or upload a list of checks that they have issued. This list acts as a filter to match against checks that are received by HFB to pay against your account. Items that match will clear as normal. Items with exceptions will appear as exceptions for the business customer to evaluate and make the decision on whether or not to pay.

Sweep Processing

Allows you to make the most out of your funds. Sweep Processing allows you to keep a daily predetermined target balance in your business checking account. Funds over the target balance may be automatically transferred towards your business line of credit and/or to your other business deposit accounts.1

Smart Deposit Remote Capture

HFB's Smart Deposit Remote Capture allows your business to streamline your check deposit process, manage your receivable and reduce your trips made to the bank. Smart Deposit electronically captures and submits e-checks that would normally have to be brought to your closet HFB branch. Features include:

  • Scan checks into the software using any supported desktop scanner from single-feed to multi-feed scanners.
  • Deposit summary including images and deposit amounts can be printed for the merchant's records.
  • Information is transmitted over a secure, encrypted SSL connection to the financial institution server.
  • All software configuration is handled on the server by the financial institution. All the customer needs to connect is a device key, username and password.
  • Supports multiple deposit accounts, selected at deposit capture time.
  • Tracks all deposits made by each merchant, which can be reported for a selected period of time.

Contact Us for more information!

Cash Management Services are available based on risk assessment and account officer approval. Additional charges for these services may apply.

1 Must have combined statement for Sweep Processing.

 

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