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.
Earn cash from your everyday debit card purchases.
Business accounts register here.
Lockbox/Remittance Processing Services
Reduces the risks of theft, fraud, or errors while speeding up your payment collection process — all of which improves your company's cash flow.
This service lets your clients send their payments directly to a centralized location where BAC processes the transaction and deposits received funds into your company's account right away. This
Payments, payment coupons, and any correspondence received are scanned and digitized by the Bank. You are provided secure access to this information, along with tools for custom research and reporting functions. All electronic data and images are also made available to you for use in your own document-management systems, work-flow systems, and accounting systems as needed.
Increase your office staff productivity while improving your cash flow by utilizing this state-of-the-art service.
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
- If the available balance of your general or "core" checking account falls below the minimum, money is swept into the account.
- If the available balance of your general or "core" checking account goes above the maximum, money is swept out of the account.
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.