CASH VAULT / ARMORED SERVICE
Don't place yourself or your employees at risk by personally making high volume cash deposits at a BAC branch. Rather, use our Cash Vault with an armored courier transport service that securely delivers and tracks cash orders and deposits between your business and BAC Community Bank.
Deposits and cash orders can be processed daily, weekly, or on another schedule that you define. Whatever you choose, you can be sure that these transactions are processed in a securely monitored environment.
This enables you and your staff to focus on day-to-day business operations, confident that your cash processing needs are in safe and reliable hands.
Receive account alerts through e-mail or text message.
Available through our Online Cash Management system, this popular tool enables you to stay alert to account activity, helping reduce overdrafts and quickly identifying potential fraudulent activity. View a list of available alerts.
LOCKBOX / REMITTANCE PROCESSING SERVICES
Please contact your account representative.
BAC Community Bank banking professionals will work with you to establish an appropriate minimum and maximum balance for your general or "core" checking account.
How Sweeps Work
- Money is swept in to the account if the available balance of your general or "core" checking account falls below the minimum.
- Money is swept out of the account if the available balance of your general or "core" checking account goes above the maximum.
Benefits for Your Company
- Increased interest earnings from more precise, automated management of cash.
- Reduced interest expense when in a borrowing position due to automated management of balances.
- Using standard sweep increments facilitates record keeping and reconciliation.
- Less effort for your staff to manage cash position—no telephone calls needed.
If your business has a need to transfer money electronically, the Wire Transfer feature of our Online Cash Management tool may be the perfect fit.
ZERO BALANCE ACCOUNTS
A Zero Balance Account (ZBA) provides for easier cash management by automatically offsetting actvity to and from a master account on a daily basis. This can streamline your company's account monitoring procedures.
The BAC Zero Balance Account (ZBA) is designed for companies that maintain a general operating account and separate accounts for payroll, petty cash, or other purposes. Using this account system eliminates excess balances in separate accounts and provides greater control over disbursements. ZBAs allow the company increased investment opportunities and reduces administrative expenses.