With rising interest rates and increased costs, you want your business to be running as efficiently as possible. West Bank offers numerous services that can be beneficial to you and your business. Here are some common questions and answers about Treasury Management and how West Bank can help small business owners.
- What is treasury management? Treasury Management is a specialized area of business banking that provides customers with electronic solutions to manage their finances more efficiently.
- Can treasury management help protect me from fraud? Yes! Check Positive Pay automatically matches the dollar amount and check number of each check you issue. If there is a mismatch you will have an opportunity to approve or reject the payment. ACH Fraud Filter allows you to monitor ACH items clearing your account, add companies to your pre-approved list and reject any unapproved items.
- What is eCorp? eCorp is West Bank’s business online banking that allows users to view accounts, transfer funds, download statements, initiate ACH and wire transfers, deposit checks remotely, and more.
- What is the difference between soft tokens and hard tokens? A hard token is a physical device that generates a unique code for a secure log-in to eCorp. A soft token is the use of app on a smartphone or tablet for the same purpose. These security features add a layer of protection for business owners requiring two-step authorization.
- What is ACH? ACH is the electronic transfer of funds between bank accounts at other financial institutions. For example, West Bank business customers can use ACH for direct deposit of payroll for employees or pull funds from customer accounts for payments.
- How can treasury management services help me save time and money? Treasury Management allows business customers to do their banking electronically from where ever they are. West Bank’s Treasury Management services make banking hassle-free and efficient.