Cash Management

 

CASH MANAGEMENT SERVICES

Managing your company’s cash position, improving availability, maximizing the use of cash, and minimizing accounts receivable collection time are all serious demands. Our cash management products and services are designed to help you streamline your cash management needs.


ACH (Automated Clearing House) Services

Olmsted National Bank is a member of the Automated Clearing House (ACH) which is an electronic payments network used by individuals, corporations, businesses, financial institutions and government entities. The network provides corporate cash management capabilities and eliminates the delays and processing problems associated with paper items.

Direct Payment

Tired of hearing “the check is in the mail”? With Direct Payment you’ll know the money is in the bank. Using Direct Payment, through ACH you’ll be able to save your staff time and provide a convenient way for your customers to make payments.

Benefits:

  • Eliminate opening payment envelopes and preparing bank deposit slips
  • Customer convenience
  • Improved cash flow and its predictability
  • Higher security
  • Increased privacy
  • Increased efficiency, which means a savings of your time and money

Direct Deposit

Did you know that companies save more than $1.25 for each paycheck converted to Direct Deposit? Let us show you how easy it can be to use the ACH system to pay your employees.

Benefits:

  • Cost savings
  • Employees view it as a benefit and convenience
  • Save time reconciling payroll accounts
  • Save time lost by employees depositing checks during work hours
  • Secure, no checks lost or stolen
  • Provide consistent and convenient availability of funds for your employees on a timely basis, even during vacation, illness, or business trips

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Merchant Services

Increase sales opportunities, reduce check loss, and improve cash flow!

You need reliable and rewarding merchant processing services. Olmsted National Bank, delivers these services with a system powered by the NOVA network.

We provide competitive processing rates, three program options to fit your specific needs, major card acceptance, plus Internet, wireless and e-commerce solutions.

By allowing your customers to make purchases with their credit or debit cards, you increase your sales and control your accounts receivables. In addition, you save on the costs associated with customer inconvenience and credit/receivable accounting systems.

Credit and debit cards are not only good for consumers, they’re good for your business, too!

Call today and ask for Jeff for more information on these beneficial services.

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Wire Transfers

Fast, Secure, and Immediate Availability

In today’s market place there are times when you need to have large amounts of money transferred securely and immediately. Utilizing our UNET wire transfer system, we are able to wire transfer funds directly to any financial institution world wide.

You can also request that clients use a wire transfer to send funds to you. This ensures that the funds are collected and you can start using them immediately.

Features & Benefits:

  • Fast and accurate transmissions
  • Secure payment option for large-dollar transactions
  • Secure wire transfer origination available for one-time or recurring transfers
  • Secure wire transfer acceptance for being able to have immediate availability to funds

Call today and ask for Jeff, Terry, or Pete for more information on this beneficial service.

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Online Banking

Convenient and Secure!

Sign up for Online Banking and you’ll be able to manage your money when it suits you. You can pay bills, transfer money or check statements, any time, day or night.

Call us at (507) 280-0621 today!

Hardware and Software Requirements

To use Online Banking, you will need Internet access and an Internet browser that supports Secure Sockets Layer with 128-bit encryption. We recommend Internet Explorer version 6.0 or higher (available at www.microsoft.com) OR Firefox version 3 or higher (available at www.firefox.com) and a computer with at least a 133 MHz processor and if access is by dial-up, a 28.8 baud or higher modem. Download instructions here!

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