Cash Management is a suite of online services specifically designed to help commercial
customers easily and efficiently meet their financial management needs. The tools in this suite can be broken
down into three categories:
- Payments and collection functions
- Information functions
- Control functions
Payments and Collections Functions The primary advantage to companies which use Cash Management
is that they can access multiple ways to initiate payments and collections.
- Pay both electronic bill payments and paper drafts. The advantage of paper draft payments is that they
are relatively inexpensive to initiate. However, they can be slow and the originator does not control when the check actually clears.
- Automated Clearing House (ACH) combines the cost-effectiveness of writing checks with the timely posting
of wire transfers. Like wire transfers, ACH payments move through the Federal Reserve System. Therefore, the
originator controls when the payment will post to the receiving account - either one or two days. Unlike
wire transfers, ACH is relatively inexpensive.
- Wire Transfers allow you to move funds very rapidly, posting payments to the receiving account on the same
day. The recipients can be either domestic or international.
Information Functions Another advantage of Cash Management to
companies is the use of certain informational functions. In addition to balance and history information, placing
stop pays, ordering checks, and reconciling accounts, these companies can:
- Place currency orders
- Implement Positive pay to catch fraudulent checks before they clear
- Send files to the financial institutions securely and electronically
Control Functions Finally, Cash Management offers
several tools which allow companies to manage the risk and security of their own accounts. The tools include:
- Dual control permits one user to draft payments while another authorizes those payments
- Supervisory Functions permit your company to control specific access rights to different groups of employees
MNB's Cash Management module contains many other features which will benefit your
daily business needs. Contact a Customer Service Representative at a branch near you to learn more and to
schedule a demonstration. Click here for branch locations.
Commercial Loans - Malvern National Bank is in the business
of helping businesses reach their goals for growth.
- Professional Lending Services for whatever need your company may have including:
- Business start-ups
- Construction
- Capital Improvements
- Short term loans for seasonal working capital
- Financial counseling to business owners or prospective owners
- Fast Answers
Small Business Administration Loans - We are
equipped to offer business loans through the Small Business Administration (SBA) to companies that otherwise may not
qualify through traditional channels.
Commercial Lines of Credit - Malvern National Bank provides lines
of credit to businesses which have seasonal needs for working capital and inventories. The credit line
is usually good for specified periods of time, usually not longer than 1 year. A predetermined amount is set
and then advances can be made against that amount with no additional approvals. The line is
repaid as funds become available.
