Business Cash Management

Cash management services are used by businesses to effectively manage the funds paid to, and by, the business.  1st Security Bank’s cash management products are designed to meet very specific needs, from preventing fraud on your deposit accounts to sweeping funds between an account and a line of credit.  Our services include:


Part of the attractiveness of a community bank like 1st Security Bank is our size.  Because we are small, you don’t have to deal with bureaucracy and lots of layers of management.  If you’re thinking that being a community bank means we do not have as many branch locations as some of the big banks, never fear!  Our alternative deposit services make it easy and convenient for you to deposit funds.

1st Express Deposit

1st Express Deposit is a check-scanning service that allows you to make business deposits from an office computer and eliminate time-consuming trips to the bank.  Same-day credit is offered for all deposits transmitted to the bank by 5 p.m., Monday through Friday.  Only U.S. check deposits can be transmitted using this service.  To use 1st Express Deposit, you must be approved and have the following:

  • Internet-connected office PC – The office computer (PC) used to scan and transmit deposits must be connected to the Internet.
  • Scanner – We offer a selection of scanners that connect directly to your office computer.  The scanner will convert each check to an electronic image for transmission.  You may purchase your scanner or simply rent it from us.  You may also use a scanner you currently own if it is compatible with our system.
  • Remote deposit software – The scanning software must be installed on your office computer and will facilitate the scanning, analysis, and transmission of the deposit to 1st Security Bank.

Who should use this service? Businesses with high check-deposit volume, infrequent cash deposits, and limited time to make trips to the bank during business hours.  This is also a convenient service for businesses not located near a 1st Security Bank branch.

Courier Deposit

With courier deposit, arrangements can be made for regular, or as-needed, pickup of business deposits.  The deposits may include checks and other items and a limited amount of cash.  You will be billed on the day of service for the actual cost of the courier pickups.

Who should use this service? Businesses without the deposit volume to warrant 1st Express Deposit but that need to make deposits remotely.  This is also a convenient service for businesses not located near a 1st Security Bank branch.

Payment Lockbox

Our payment lockbox service allows you to divert regular payment processing from your internal staff to a secure payment processing center.  Lockbox speeds the collections of your receivables, eliminates the time and labor that go into payment processing, and provides you with the information you need for reporting and managing payments.

Who should use this service? Businesses that process a substantial number of checks monthly and don’t want to maintain the infrastructure to deal with deposits and record keeping

Additional Information

To reach a business banking specialist, please contact one of our branches, call us at 800-683-0973 or send us an email.

Fraud prevention services are designed to detect and intercede in fraudulent transactions and assist in the reconciliation of your operating deposit accounts.  If you have a higher risk of fraudulent activity on your accounts, this would be a great service for you. There are two options available: 

Positive Pay Full Verification

Positive Pay Full Verification (aka “Reverse Positive Pay”) shows all items paid on the account to be reviewed by you, allowing you to double-check the entries to ensure they are accurate.  You are entirely responsible for detecting fraudulent transactions, and there is no check-issue file sent to the bank.

Who should use this service? Businesses wanting to verify all items presented for payment against their accounts to ensure that each item is accurate.

Traditional Positive Pay

Traditional Positive Pay allows you to upload a check issued file. When checks are presented, they are verified to your check issued file to confirm items are valid. Any exceptions are sent to you for review. Reports are available for items paid, stop payment or voided items, and items not yet paid, giving you additional tools to monitor activity. 

Who should use this service? Businesses that want to protect their accounts from fraudulent activity and want the convenience of uploading a check issued file instead of reviewing each check that is presented. 

Additional Information

To reach a business banking specialist, please contact one of our branches, call us at 800-683-0973 or send us an email.

Sweeping funds between accounts can save you time and money.  Additionally, using a sweep process can remove uncertainty about whether or not you’ll have adequate funds when payments are presented. The two main categories we offer at 1st Security Bank are Deposit Sweep and Loan Sweep. The following provides some details regarding these options:

Deposit Sweep

Deposit sweeps are configured to sweep funds from one deposit account to and from another deposit account.  In most cases, the source deposit account serves an operating purpose while the sweep destination account is more permanent storage of funds.  There are two types of deposit sweeps:

  • Standard Sweep – in this setup, two checking accounts are linked.  The primary account may have any target balance configured for it (e.g., $5,000).  At the end of the business day, funds are swept to or from the attached account to maintain the target balance.
  • Zero Balance Accounts (ZBA) – this is a Standard Sweep configured with a $0 target balance.  At the end of the business day, funds are swept to or from the attached deposit account to maintain the $0 balance.

Who Should Use These Services?  Businesses requiring multiple operating accounts but not wishing to store excess funds in those accounts.   An example might be a business with multiple retail locations that make deposits every day.  A deposit sweep arrangement would automatically move the deposited funds to the aggregating destination account.

Loan Sweep

Loan sweeps transfer funds between a deposit account and a business line of credit.  When cash flow is reduced, the line of credit is used to boost funds available to the business.  When cash flow improves, the line of credit balance is paid down using the excess funds in the deposit account.  Any target balance may be established in the primary deposit account.

Who Should Use This Service?  Businesses that keep little cash in operating accounts and/or prefer to automatically move into a net borrowing position when cash is tight.

Merchant Credit Card Services

1st Security Bank is ready to meet all of your credit card processing needs.  We offer the perfect combination of credit card services, from in-store to e-store, with a full range of debit and credit payment-processing solutions, including:

  • credit/debit card processing
  • purchasing of gift cards
  • terminals
  • customer service
  • merchant training and activation

Please contact a 1st Security Bank Branch Manager or Business Banker for more information about our credit card processing services. If you have any questions regarding the EMV-enabled terminals, click here.

Canadian Check Deposits

If you receive a check drawn on a Canadian bank in either Canadian funds or U.S. dollars, we can accept it for deposit.  If the check is drawn in Canadian funds, we will deposit the U.S. dollar equivalent into your account.  Note that it will take several days for funds to become available while we wait for the check to clear. 

Foreign Wire Transfers

We are able to wire funds around the world in U.S. dollars or in foreign funds.

Services

Personal Banking

Personal Banking

Business Banking

Business Banking

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