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Cash Management

Controlled Disbursement

A pre-notification of transactions that will be posted against your account will allow you to maximize use of cash.

Controlled disbursement offers your company the ability to receive the total dollar amounts of checks to be presented against your account each day.  In addition, with the use of Herrin Security Banks's Business On Line Banking you will not only know the total of all checks to be presented against your account that day, but will be able to view a listing of each individual item that will be drawn against or deposited to your account.  This includes ACH items that may be deposited or drawn against your account by companies that you do business with.  

This pre-notification of transactions that will be posted against your account will allow you to maximize use of cash by eliminating the speculation of what checks will clear the account on any given day. 

Cash Concentration

If you have multiple locations you can concentrate funds into one controlled account.

Cash concentration is a system through which businesses with widespread geographical locations can concentrate funds into one control account.  By using Herrin Security Bank's Business Online Banking program, your company can move funds electronically through the Automated Clearing House (ACH) system from accounts held at other banks nationwide into your Herrin Security Bank account.  Benefits of Cash Concentration include:

  • Reduction of excess balances.  Funds are transferred to one single account for accurate monitoring and control.
  • Next day funds availability through ACH transactions.
  • Increased control over your banking network.
  • Reduced expenses on funds transfers by using ACH to concentrate your funds.

Zero Balance Accounts

If you need to use multiple accounts to transact your daily business operations, but dread the time it takes to make individual deposits or funds transfers from your main operating account to the sub accounts, Herrin Security Bank's Zero Balance Account service can help.

We can maintain your "sub" accounts at a zero balance to help with cash flow needs.

If you have multiple accounts used for different purposes and want the balance of your funds in one operational account, we can electronically help you maintain the "sub" accounts at a zero balance.  When funds are needed they are "pulled" or moved from the concentration account and when the sub accounts have a balance, they are moved to the concentration account.  With this service, no funds sit idle in your account in anticipation of checks clearing.  Excess funds are thus available to invest, or to cover credit or cash flow needs.

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