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Cash Management

Commercial Banking - Cash ManagementAt CFG Community Bank, we recognize your need to efficiently manage your business cash flow. That is why we have designed a full suite of cash management products and services. Our cash management professionals will analyze your existing and future needs and craft a solution to ensure you have the products and services necessary to achieve your goals.

Remote Deposit

With CFG Community Bank Remote Deposit Capture you can reduce or eliminate extra trips to the bank to make deposits, saving you valuable time.

Features:

  • Convenience of scanning your checks from your place of business
  • Ability to review the check images on your computer screen prior to submitting your deposit
  • Same day credit on deposits made prior to 5:00 pm EST
  • Flexibility in processing deposits around the clock, 7 days per week
  • Multifactor authentication, encryption and multiple security levels for the security of your deposits

Online Banking

CFG Community Bank Online Banking means you can manage your account at your convenience, with an Internet connection. View the online DEMO of Online Business Banking

Bill Payment

Avoid late or missed payments, the added cost of stamps or delays in mail processing. Pay bills fast and easy with electronic bill payment. Fully integrated with Online Banking, you only need one User ID and Password. Schedule one time or recurring payments and receive and pay e-bills.

Payroll Cards

Our Visa,® Payroll Cards save you time and money with 100% electronic payroll that’s easy to implement at no cost to your company. With the Visa® Payroll Card solution, you can increase electronic direct deposit participation so you can eliminate the need to distribute regular paychecks and wage statements to employees. By eliminating paper checks, you reduce your exposure to check fraud, minimize lost or stolen check problems, improve business continuity and reduce off-cycle payment problems. And with check fraud being one of the fastest growing forms of corporate fraud, integrating the Visa® Payroll Card solution now will significantly reduce the chances of your company’s risk.

Wire Transfer Services & Notifications

Wire Transfer is the only way to transfer funds to other financial institutions and achieve same-day availability. You can move money to other banks, virtually anywhere, with ease and security with CFG Community Bank’s flexible wire transfer service.

Features:

  • Initiate domestic wires using CFG Community Bank’s Online Banking service
  • Enjoy same day availability of funds
  • Establish templates for wire transfers done on a repetitive basis to manage your time more effectively
  • Receive real-time notification of incoming wire payments

Direct Deposit Payroll

An easy and affordable solution for you to pay your employees, CFG’s Direct Deposit solution can streamline payroll operations, increase productivity and save money for your business. Your employees will save time, too, with instant access to their salary on payday without a trip to the bank or waiting in line to have checks cashed.

Features:

  • Pay one, some, or all of your employees
  • Easily schedule Direct Deposit in advance, at least two days prior to the payday
  • Eliminate lost or stolen payroll checks

ACH Organization

As an alternative to paper checks and wire transfers, CFG Community Bank’s ACH origination service allows for electronic debiting and crediting of checking and savings accounts using the Automated Clearing House (ACH) network.

Features:

  • Reduce costs while disbursing funds by eliminating paper checks
  • Initiate recurring payments to your regular vendors to ensure timely payment
  • Initiate debits from your customer accounts for faster payment of invoices
  • Reduced lost check and fraud expense

Positive Pay

You can securely import your check issue file into CFG Community Bank’s Online Banking service. As items are presented for payment, our matching and validation process quickly identifies checks that are inconsistent with the data provided. Digitized images of exception items are provided online to enhance your pay/return decision-making. With Positive Pay, you can review suspicious items efficiently and make timely payment decisions.

Account Reconciliation Plan (ARP)

Our ARP offers businesses that issue a high volume of checks a more efficient way of accounting for and reconciling bank statements and other transactions each month. You receive consolidated reporting of individual checks paid during the statement cycle as well as those that are still outstanding—with totals of both categories. The result is reduced bank fees and operating expenses by eliminating multiple deposit accounts and funds transfer.

Zero Balance Account (ZBA)

Consolidate your company’s funds into a central operating account, from which subsidiary accounts (called Zero Balance Accounts or ZBAs) for payroll, petty cash or other similar needs, are funded automatically.

Features:

  • Simplify operations by eliminating manual funding of subsidiary accounts
  • Maximize funds available for investment
  • Minimize the risk of costly overdrafts
  • Save clerical time and expenses

Automated Overnight Investment

Maximize your earning potential on available funds by automatically investing excess checking account funds into higher yielding interest-bearing accounts, including Repurchase Agreements (REPOs).

Repo Sweep

For businesses that want to increase their earnings power by automatically investing excess checking account funds, our Repo sweep provides increased safety and security for funds that exceed the FDIC insurance limit.

Features:

  • Great solution for maximizing investable funds
  • Simple, automatic same-day sweep
  • Convenient way to earn interest on excess investable balances
  • A collateralized (secure) investment backed 102% with U.S. Government Treasury and/or Agency Securities
  • No investment cap limit

Target Balance Management (TBM)

Manage your cash flow and interest expense more effectively. TBM provides the ability to automatically fund and/or pay down your line of credit based on maintaining a specific balance in your operating account.

Features:

  • Advances on the line of credit occurs as items clear your operating account
  • Automatically pays down your line of credit with any excess funds over the target balance
  • By utilizing excess funds to your advantage, you reduce your interest costs on outstanding loan balances

Escrow Manager

For the attorney, CPA, real estate professional, property manager and others that manage escrow funds for their clients, our Escrow Manager streamlines end-to-end escrow management.

Features:

  • Simplify accounting procedures and decrease paperwork
  • Deposit escrow funds into a single account, eliminating the need to maintain separate accounts for each individual escrow deposit
  • Individual escrow sub-accounts are established and tracked by CFG Community Bank
  • Receive consolidated statement showing the history and balances for the master account and all of the subaccounts
  • CFG Community Bank handles the IRS reporting and mails the 1099 forms directly to your clients

Merchant Services

Enjoy state-of-the-art payment processing solutions, allowing your business to process credit and debit card payments with the same convenience and ease as accepting cash. Includes a full range of credit card services, such as online merchant reporting and immediate deposits for further ease.

International Services

CFG Community Bank offers foreign currency services, including purchase and exchange.