Southern Bank’s Cash Management services are a customizable suite of tools to streamline your business operations. You pick and choose exactly what you need, without paying extra for things you don't. Provide direct deposit for your employees, pay federal taxes, collect customer payments, reconcile accounts, manage cash flow, and more - all from inside online banking.
Cash Management
Making business a little easier.
Available Options
Pick and choose or get it all.
Pay employees with direct deposit
ACH Credit Origination allows your business to process employee payroll electronically and make direct deposits into their bank accounts. Direct deposit is a great way to save money and make it easier for your employees to get paid. Depositing directly into your employees’ accounts decreases the cost of checks and lessens the risk of stolen documents and identity fraud. Your employees don’t have to have an account at Southern Bank to utilize direct deposit.
Collect customer payments electronically
ACH Debit Origination makes it easy to collect payments from your customers by making direct withdrawals from their account. This gives you more control over cash-flow with pre-determined payment and settlement dates.
Let us collect and process your customer payments
Lockbox Payments streamline the way your business receives customer payments and gets the funds into your account quicker. Your business sets up a special PO Box where your customers send their payments, we collect payments daily and make deposits to your business and provide a payment file and digital image file.
Automatically reconcile checks
Check Positive Pay reduces manual reconciliation errors and improves accuracy by providing journals on check activity and historical information. When checks are input, issued checks are paid. The software then verifies the issued amount matches the check paid amount. This makes detecting possible check fraud quicker and more efficient. You have control to return checks that may have been altered or issued by mistake.
Approve vendors to be paid automatically
ACH Positive Pay allows you to manage and monitor ACH debits and credits posting to your account. Set up transaction filters to specify which entries should be paid without review, or . You’ll be able to make decisions on ACH transactions before your account is debited — and reduce the risk of potential fraud.
Account transfers in and outside Southern Bank
Book Transfers make it easy for your business to make account-to-account transfers within Southern Bank or to other institutions to manage cash flow.
Make wire transfers inside online banking
Wire Transfer Requests can be sent directly to Southern Bank from online banking. It’s fast, secure, and a convenient way to transfer money. Reduce wire fraud, save money and time spent at the branch initiating a wire.
Additional Features
Electronic Federal Tax Payment System (EFTPS) allows your business to pay federal taxes via direct deposit. Save time and late fees by completing forms online and scheduling payments to be made by the due date.
National Automated Clearing House Association (NACHA) Importing makes it easy to import NACHA-formatted files that include both credit and debit items. No extra time spent formatting files.
Make deposits from your desk
Easily deposit checks from the comfort of your office. Ideal for businesses that have remote or multiple locations, a need to make deposits after hours, or receive checks with large dollar amounts.
Security
You have total control over employee Cash Management access. Each employee user has a unique access ID and passcode. Trusted employees can access online accounts, pay federal tax deposits, complete wire transfers, and manage as much or little of your operations as you wish.
Information security: All data entered into or accessed through your online banking profile is protected by Transport Layer Security (TLS) encryption technology,which requires a browser that supports a minimum of TLS 1.1 and 128-bit encryption (preferably TLS 1.2 and 256-bit encryption). Every Cash Management customer also receives a security token for an added layer of security. In addition, you can customize your account to issue alerts when account activity takes place, keeping you up to date on account activity and identifying potential fraud before it takes place.