B&K has initiated a full line of cash management services so you can manage your cash flow in the easiest ways possible. These convenient products keep your business running smoothly and provide enhanced funds availability and cash flow all within the most secure venue of your bank.
- Scan, submit and deposit checks electronically from the convenience of your desktop. Use the same service B&K uses in our own branches to process our work daily.
- Collect your receivables from customers or trading partners electronically using the most secure, efficient method available. You can also use this service to concentrate funds from other bank accounts used by your branch offices.
Zero Balance Accounts (ZBA)
- Link these sub accounts to your primary checking account. Deposits made to these ZBA accounts are automatically transferred each night into your primary account to consolidate funds for investing or payment decisions.
- Be equipped to accept credit cards and debit cards, the most popular form of payment, from your customers. Let us equip you to convert paper checks to electronic transactions for settlement. You’ll no longer need to bring paper checks to the branch for deposit. This provides a level of guarantee against NSF returns.
- From offering Direct Deposit of Payroll, to paying your vendors, to sending funds to remote branch offices, ACH provides the most secure, efficient method of disbursing funds electronically
- One of the oldest, most secure methods of sending funds with a same day settlement guarantee. This can be initiated either by calling the Branch Office or using our Online Business Solution.
Zero Balance Accounts (ZBA)
- By tying a sub account to a funding account, streamline the need to manually move funds between accounts. When a check is presented to the ZBA, funds are moved automatically to cover those items daily. Never worry about overdrawing an account.
Business Debit Cards
- This service helps to control and track purchases by using multiple cards for different departments or divisions of your business. Reduces the time and cost of issuing checks while tracking transactions through our online service.
Business Bill Pay
- Save time and money: no issuing checks; no buying envelopes or stamps. All is done electronically for you.
Sweep services maximize the use of funds daily. A predetermined target balance is established on your business checking account. Each day our system will process the checks/debits presented, consider any deposits/credits, and then compare the ending balance to the target balance before making a decision to move funds.
- All idle funds over the predetermined target balance will automatically be placed into an overnight, government-backed investment permitting idle funds to earn income. The following day all funds are available in the checking account for payment decisions. The cycle repeats itself automatically.
- Your checking account is tied to a B&K Line of Credit. At the end of each day, if funds are needed in the checking account, a draw on the LOC for only the amount needed is processed automatically. If excess funds are available at the end of day, these funds are used to pay down any balance on your LOC -- saving you interest expense.
- This service truly maximizes the use of your balances daily. If there are any excess funds at the end of the day, our system will apply them to your LOC balance first, before investing them overnight. All of this is done automatically, without manual tracking or intervention -- thus maximizing the use of excess funds.
Online Business Solution
- Our online service is your electronic portal into the bank. It provides you with the ability to track deposit and loan balances and transactions, transfer funds, initiate payments, collect or disburse funds electronically, monitor other Users, provide controls for each User plus more features. Multifactor Authentication provides the highest level of security to protect your online accounts from outside threats.
Positive Pay Service
- Protect your account from unauthorized, altered or duplicate checks presented for payment to your account. This service ensures only the checks issued will clear your account. If an exception is identified, you will have the final review on whether that item is paid or returned, hence the term Positive Pay.
ACH Protection Service
- This service protects your accounts from unauthorized or fraudulent electronic debits settling to your account without your knowledge. Our ACH Block service will automatically return ALL ACH debits presented to the account. Meanwhile, our ACH Filter service will permit those predetermined items to be applied to your account while all others are returned automatically.
Electronic Data Interchange (EDI)
- More and more electronic transactions have payment information attached to them. This service will translate the information into a readable report which can be emailed to you daily.
- Go Green and receive your monthly statement electronically in a secure email format. We can also deliver your statement to multiple email addresses -- depending on your needs.