Treasury Management for Business
Efficient use of your time and money is one of the keys to being successful in business. NBT Bank's treasury management services will provide you with the flexibility and resources to effectively manage your funds. Your relationship manager and our treasury management experts will work with you to select the right options for your business.
Contact one of our Treasury Management Representatives to begin a conversation about how we can support all of your treasury management needs.
NBT Online Banking for Business
Our internet banking service is the cornerstone Treasury 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.
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.
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.
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.
Remote Deposit Capture
Deposit checks without having to leave your office! Remote Deposit Capture is a service which allows customers to scan checks and transmit the scanned images over a secure internet connection directly to the bank for posting and clearing. Among the many benefits, the window for same-day deposits is extended to 6:00 p.m.
Heartland for Payment Processing
Learn about Heartland, a payment processor that can help expand your business and enhance your bottom line. Heartland is a leading provider in payment processing services that are 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.
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
International Payments
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.
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.
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.
Positive Pay Services
ACH Positive Pay
This valuable electronic fraud protection service maintains the security and integrity of your accounts by filtering ACH debits. You simply notify us in advance of which ACH debits are authorized to post, with optional transaction limits. Anything else will present as an exception for you to review and determine if you’d like to pay or return to the originator.
Check Positive Pay
Check 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. You simply provide us your check 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 issued data. If any check does not match the data provided, you receive an exception notification prompting you to review the item and decide to pay or return it.
Payee Positive Pay
Payee Positive Pay enhances our Check Positive Pay service to additionally verify the payee information on each check to help protect you from payee fraud. If the payee information does not match what you have uploaded, you receive an exception notification prompting you to review the item and decide to pay or return it.
Treasury Management Team
Please reach out to us! We welcome the opportunity to help you with the best solutions for your unique business to thrive. Our services will provide flexibility and resources to effectively and securely manage your liquidity and payments. We’re ready to answer your call!
