Treasury Management is a suite of online services specifically designed to help commercial customers easily and efficiently meet their financial management needs. The tools in this suite can be broken down into three categories:

Payments and Collections Functions

The primary advantage to companies that use Treasury Management is that they can access multiple ways to initiate payments and collections.

• Pay both electronic bill payments and paper drafts. The advantage of paper draft payments is that they are relatively inexpensive to initiate. However, they can be slow and the originator does not control when the check actually clears.
• Automated Clearing House (ACH) combines the cost-effectiveness of writing checks with the timely posting of wire transfers. Like wire transfers, ACH payments move through the Federal Reserve System. Therefore, the originator controls when the payment will post to the receiving account – either one or two days. Unlike wire transfers, ACH is relatively inexpensive.
• Wire Transfers allow you to move funds very rapidly, posting payments to the receiving account on the same day. The recipients can be either domestic or international.

Information Functions

Another advantage of Treasury Management to companies is the use of certain informational functions. In addition to balance and history information, placing stop pays, ordering checks, and reconciling accounts, these companies can:

• Place currency orders
• Implement Positive pay to catch fraudulent checks before they clear
• Send files to the financial institutions securely and electronically
• Request an optional monthly CD-ROM containing electronic copies of your statements, canceled checks, deposits and deposit tickets

Control Functions

Finally, Treasury Management offers several tools which allow companies to manage the risk and security of their own accounts. The tools include:

• Dual control permits one user to draft payments while another authorizes those payments
• Supervisory Functions permit your company to control specific access rights to different groups of employees

MNB’s Treasury Management module contains many other features which will benefit your daily business needs. Contact a Customer Service Representative at a branch near you to learn more and to schedule a demonstration. Click here for branch locations.