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Treasury Management for Business
Efficient use of your time and money is one of the keys to success in business. That’s why NBT Bank’s Treasury Management services are the lifeblood of our business customers. We help manage their working capital and financial operations through reliable, convenient products and high-touch service.
Our Treasury Management experts will help you design a custom set of Treasury Management solutions to achieve the specific needs of your business. Our ultimate goal is to optimize your liquidity, increase cash flow efficiency and mitigate fraud.
NBT Digital Banking
Our digital platform provides access to your accounts. From one central site you can initiate electronic transactions, streamline payables and receivables, deploy risk management and fraud protection tools, just to name a few. You will enjoy a seamless digital banking experience from all your devices: computer, mobile phone, and tablet, 24 hours a day, seven days a week.
How can NBT Digital Banking help my business?
- Timely reconciliation of accounts
- Efficient and convenient payment origination options
- Information reporting and fraud mitigation
- Bank from anywhere, anytime
Account Reconciliation
Reduce the administrative burden of reconciling large check volumes. Simply provide a list of checks issued and with the click of a button, reconcile your check payments to your checking account. You'll also be able to generate reports on stop payments, voids, and paid and outstanding checks.
We also offer Deposit Reconciliation which tracks deposits made from multiple locations into a deposit account by special coding incorporated on your deposit tickets.
How can Account Reconciliation with NBT help my business?
- Timely reconciliation
- Improves administrative process
- Greater visibility into outstanding checks which affects financial position
EDI Reporting for ACH
The Electronic Data Interchange (EDI) solution extracts important data from incoming ACH payments to accelerate reconciliation of receivables. Non-financial information is reported to you in a wide variety of formats including PDF, CSV, XLS and XML.
How can EDI Reporting with NBT help my business?
- Timely reconciliation
- Central point of data collection
- Multiple format options
BAI Reporting
Looking to easily manage bank transactions across multiple financial institutions? Our BAI Reporting solution allows for universal coding of common bank transactions. Reports containing all balance and transaction data from the previous day across all your financial institutions are conveniently delivered to your daily.
How can BAI Reporting with NBT help my business?
- Daily reporting provides greater visibility into banking activity
- Universal format aids in effectively managing multiple banking relationships
- Improves administrative process
To learn more about any of NBT Bank’s Information Reporting Services contact your dedicated Treasury Management Sales Officer.
ACH for Payments
Looking for a convenient payment option for your employee payroll, vendor payments, tax payments and other business payables? Our Automated Clearing House (ACH) service electronically delivers payments with minimal administration and easy paperless reconciliation. The service eliminates expensive costs and reduces fraud risk associated with check processing. Our Treasury Management experts can advise how ACH can play a role in your payments strategy.
ACH Regulations. What you need know.
How can ACH with NBT help my business?
- Lower administrative cost compared to checks
- Faster payment and settlement time
- Mitigate fraud by reducing number of checks issued
Wire Transfers
Send time-sensitive payments electronically with NBT Bank’s wire transfer services. Domestic and International payments in various currencies can be initiated through our Digital Banking portal. Store beneficiary information for recurring payments or send a one-time payment. If you are paying international business partners in US Dollars, consideration should be given to paying in the beneficiaries’ local currency. Because currency exchange rates are constantly changing, remitting payment in their local currency eliminates the foreign vendors currency exchange risk which may result in savings for you. Our Foreign Currency Calculator can help you make informed decisions on the best currency to remit payment in.
The following information can be used to send a wire to an NBT Bank account:
ABA / Routing Number: 021303618
Swift/BIC: NBTNUS31
Bank Information:
NBT Bank, N.A.
52 South Broad Street
Norwich, NY 13815
How can Wire Transfers with NBT help my business?
- Timeliest of all payment options
- Safe and convenient electronic origination options
- Can be used for domestic and international payments
Card Solutions - Purchasing Card
The NBT Bank One Card from NBT Bank and Elan Financial Services combines corporate travel, purchasing and fleet card programs into a single streamlined payment solution. A purchasing card program gives your organization unified processing, simplified management, and maximized savings.
Visa® Worldwide Acceptance
The NBT One Card provides access to the Visa® worldwide network with acceptance at millions of merchant locations and ATMs. Use of the One Card ensures your employees access to goods, services, and cash around the globe —eliminating the need for more costly alternatives such as petty cash or cash advances.
Easy Card Data Integration
The One Card can be fully integrated with your electronic expense reporting (EER) system, so you get valuable information to help you monitor T&E spending and aid in vendor negotiations. You’ll get detailed transaction data captured on every purchase making tracking and reconciliation easy and convenient.
*Subject to credit approval
How can a Purchasing Card help my business?
- Lower transaction costs
- Rebate revenue
- Robust reporting and card controls
Other Business Credit Card Options
Not sure if the NBT Bank One Card is right for your business? We have other Business Credit Card options that may be a better fit. Our dedicated Treasury Management Team can help you determine which of our business credit card options will work best for your company.
To learn more about any of NBT Bank’s Payables solutions, contact your dedicated Treasury Management Sales Officer.
Remote Deposit Capture
Want to eliminate trips to the branch to deposit checks? Deposit checks without having to leave your office, anytime, using our Remote Deposit Capture service. Your company can benefit from quicker access to funds, and fewer visits to the bank allows focus on other aspects of your business operations.
How can Remote Deposit Capture with NBT help my business?
- Convenience
- Reduces administrative costs
- Accelerated clearing and funds availability
ACH for Receivables
Automated Clearing House (ACH) helps improve liquidity, reduce administrative burden and costs associated with processing checks, aids in easier reconciliation, just to name a few. ACH can be used for debits for recurring collections such as monthly dues. Our Treasury Management experts can advise how ACH can play a role in your receivables strategy.
ACH Regulations. What you need know.
How can ACH with NBT help my business?- Lower administrative cost compared to processing checks
- Faster availability of funds
- Convenient options enhances customer relationships
Lockbox
Looking to outsource and expedite your collection of paper-based receivables? Let NBT Bank’s Lockbox service collect payments mailed to a dedicated post office box, scan remittance and deposit the checks, and provide reports to easily reconcile the deposits. Lockbox processing helps reduce administrative expenses and reduces the risk of internal fraud loss because NBT processes the payments.
How can Lockbox with NBT help my business?
- Eliminates administrative burden of preparing and processing check payments in house
- Enhanced customer reporting
- Quicker access to funds
Merchant Services - Credit Card Processing
In partnership with Heartland, a leading provider in payment processing services, we offer a variety of industry-leading, cost-effective card payment processing solutions.
Heartland Benefits:
- Fast, Affordable, Secure and Smart Payment Terminals
- Mobile Payment Solutions
- Accept Credit and Debit Cards
- Powerful Web-Based Management
- Enhanced Reporting Tools
- Competitive and Transparent Fees
- Data Breach Security Program
To learn more about any of NBT Bank’s Receivables solutions contact your dedicated Treasury Management Sales Officer.
Sweep Line of Credit
Maximize funds availability with our automated Sweep Line of Credit. Each day, all available funds in your business account above a predetermined target balance will automatically sweep to pay down your Commercial Line of Credit, thus reducing interest expense. Conversely, funds are automatically drawn from the line of credit when the deposit balance falls below the predetermined threshold.
How can a Sweep Line of Credit with NBT help my business?
- Efficiently manage liquidity
- Reduce interest expense
- Eliminate administrative burden of manual transfers
Target/Zero Balance Account Sweeps
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 to make additional transfers to fund payroll and other accounts. All funds stay consolidated in the operating account and transfer to the linked account as needed.
How can Target/Zero Balance Account Sweeps with NBT help my business?
- Improves cash flow
- Eliminates administrative burden of manual transfers
- Easily manage and maintain separate accounts for record keeping purposes
IntraFi Network℠ Deposits
With IntraFi Network Deposits, you can enjoy the safety and simplicity that comes with access to multi-million-dollar FDIC (Federal Deposit Insurance Corporation) insurance through a single bank relationship. Put cash balances to work in demand deposit accounts, money market deposit accounts, or CD’s. NBT Bank is a member of a special network that allows us to place your deposits through IntraFi Network Deposits in amounts under the standard FDIC Insurance maximum of $250,000. As a result, you can access FDIC coverage from many institutions while working directly just with us.
How can IntraFi Network Deposits help my business?
- Access to multi-million dollar FDIC insurance
- Bank with one financial institution
- Earn interest on balances
To learn more about any of NBT Bank’s Liquidity Management solutions contact your dedicated Treasury Management Sales Officer.
Positive Pay Services
ACH Positive Pay
Protect your account from unauthorized ACH debits with ACH Positive Pay. Simply identify vendors that are authorized to debit your account with optional dollar thresholds. If an unauthorized ACH debit is presented, we notify you to decide whether to pay or return the item within our Digital Banking platform.
How can ACH Positive Pay with NBT help my business?
- Mitigates risk of potential ACH fraud
- Optional dollar thresholds depending on vendor relationship
- Provides peace of mind while realizing the benefits of ACH processing
Check Positive Pay
Protect your accounts from fraudulent, counterfeit or altered checks. You simply provide us with an electronic file containing information about checks issued by your company. We compare the check details in the file with the actual checks presented for payment. The details include check number, amount, and issue date. If an unauthorized check is presented, we notify you to decide whether to pay or return the check payment within our Digital Banking platform.
For added protection, we also offer Payee Positive Pay which verifies the payee name on the issued check.
How can Check Positive Pay with NBT help my business?
- Mitigates risk of potential check fraud
- Automates fraud protection processes
- Eliminates need to close the account if fraud is perpetrated
Universal Payment Identification Code (UPIC)
Prefer to receive incoming ACH payments from business customers without divulging your account information? Our UPIC service assigns a unique routing and account number to allow processing without exposing your actual account information. Since UPIC is specifically associated with incoming ACH’s, any ACH debit attempt using this information will be blocked.
How can UPIC with NBT help my business?
- Protects confidential account information
- Provides peace of mind while giving your customers convenient payment options
- Eliminates need to establish separate account for incoming payments
Visit the Business Fraud Information Center for more information on protecting your business from fraud.
To learn more about any of NBT Bank’s Fraud Protection & Risk Management solutions contact your dedicated Treasury Management Sales Officer.
