Cash Management

Sweep Repurchase Agreement

This service allows organizations to earn interest on their excess balances. All available balances above a predetermined amount are automatically transferred into a repurchase account on a nightly basis. The repurchase process involves the purchase of a security interest which serves as collateral for the swept money. Funds remain liquid and available on demand for operational use.

Target/Zero-Balance Sweep Services

Target/Zero-Balance Sweep services allow customers to link various checking accounts together for overdraft protection or cash concentration. When the balance in a subsidiary account falls below the predetermined target balance, funds are automatically swept from the lead account to the sub account. These services eliminate the need for customers to make additional transfers to fund their payroll and other accounts. All funds stay consolidated in the operating account as checks are presented for payment; only those funds are automatically transferred from the general account.

Sweep/Line of Credit

Customers who carry a large balance on a line of credit will benefit from this service because it automatically pays down the line and reduces interest expense. To accomplish this, a checking account is linked to a commercial line of credit and all available balances above a predetermined amount are used to automatically pay down the line. Conversely, if the checking balance falls below a predetermined amount, funds are automatically transferred from the line of credit.

NBT Online Banker for Business

Our internet banking service is the cornerstone Cash Management product for many of our business customers, particularly those who have the need for Automated (ACH) origination. NBT Online Banker for Business is a web-based service that allows you to connect to your NBT Bank accounts, 24 hours a day, seven days a week. Our various service suites allow you to tailor your NBT Online Banker service to the specific needs of your business.

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Mobile Banking for Business

With our Mobile Banking app you can access your bank accounts at a time and place convenient for you. Whether you text, use a smartphone or tablet, you can manage your money virtually anywhere with our mobile banking app by using your existing online banking username and password. You can even deposit checks with our Mobile Deposit service.

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Positive Pay and Payee Positive Pay

Positive Pay is a check fraud service that protects customers from illegal duplication of documents. It also reduces the time needed to resolve issues when fraud is perpetrated. The customer provides issuance information—date, amount and check number—every time a check is written. Then, as checks come in to be paid, they are compared with this issue file. If any check does not match the file, a reject report is created and sent to the customer, who then decides whether to pay or return the item.

Payee Positive Pay works in conjunction with our Positive Pay service to verify the payee information issued with a payment request to help prevent check fraud. If the payee information does not match what’s on record with your issuance file, an email notification is created and will be sent to you for you to decide whether or not the item in question should be paid.

Electronic Data Interchange (EDI)

As more money is moved through the ACH system, businesses need to receive information supporting the fund amounts that are being credited to their accounts. Large ACH transactions often come to the bank with attached non-financial information called addenda records. We offer a service that allows us to receive and translate these addenda records into a user-friendly format. The resulting EDI reports are then sent to the customer on a daily basis.

Images on Compact Disc (CD)

Businesses who issue large volumes of checks monthly appreciate having the images of their returned checks stored on a CD that has a built-in search feature. The benefit is twofold: customers don’t have to store boxes of canceled checks and the process of locating specific checks is much faster. We also offer a CD of deposited checks and items.

ACH Debit Block

This valuable electronic fraud prevention service maintains the security and integrity of your accounts by blocking unauthorized ACH debits from posting. You simply notify us of those ACH debits that are authorized to post and anything else will be returned to the originator.

Account Reconciliation

This service is suitable for larger businesses that issue numerous checks and seek assistance in the monthly reconciliation of their accounts. Daily checks presented for payment are compared to an issue file. Encoding errors are identified and corrected. At the end of the month, a full reconciliation report is generated including: Checks Paid, Checks Outstanding and Stops. A simplified version of our Account Reconciliation is also available, whereby we simply produce a Paid Check report with the checks listed in numerical order.

TSYS for Payment Processing

Learn about TSYS, a payment processing system that will expand your business and enhance your bottom line. TSYS is a leading provider in payment processing services that is advanced and effective. If you accept online payments, take payments over the phone, in-store, or on the go, this is the solution for you.

TSYS’ Benefits:

• Fast, Affordable, Secure and Smart Payment Terminals
• Mobile Payment Solutions
• Accept Credit and Debit Cards
• Powerful Web-Based Management
• Enhanced Reporting Tools
• Competitive Flat Rate Fees
• Data Breach Security Program

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Paying in US Dollars?

Maybe it's time to make a change and save.

If you are paying your international business partners in US Dollars, it's time to consider the benefits of paying in your vendor's local currency.

Making Informed Decisions

When a US Dollar wire is sent to a receiver in a foreign country, the receiving bank often converts the payment to the local currency based on the currency exchange rate at the time of receipt.

Because currency exchange rates are constantly changing, and because of the uncertainty as to when a payment will be received, non-domestic merchants often increase their US Dollar prices to compensate for their currency exchange risk. By paying in their local currency, you eliminate the foreign merchant’s currency exchange risk which may result in savings for you.

How our Foreign Currency Calculator can help you save!

Simply ask your foreign merchant to provide you with a dual-currency invoice showing the payment amount in both U.S. Dollars and in the foreign merchant's local currency.

Once you have your invoice with both the US Currency and foreign currency, use our Foreign Currency Calculator to determine which payment option is less expensive. It's that simple.

Foreign Currency Calculator