No business has the same cash management needs. However, with a financial partner like Mechanics Cooperative Bank by your side, you’ll receive the help you need to determine the best combination of Cash Management services required to unlock your business’s full potential. The right services will help you maximize cash flow, save money, and reduce the time spent on your business’s finances. Check out these top questions about Cash Management for your business- answered!

What is cash management?

Cash management refers to managing a business’s cash inflows and outflows. A business owner’s ability to control this properly can directly impact a business’s financial stability and growth projections. The overall goal is to maximize the availability of cash in a secure payment environment and minimize additional expenses.  

Why is cash management critical?

Cash Management is critical in saving and protecting a business’s money. As a local business grows and develops, Cash Management services become necessary to help control and maximize cash flow. These services provide access to your cash faster and include the additional benefit of fraud prevention through a streamlined process that works best for the business. 

What do our Cash Management Services typically include? 

Cash Management services typically include tools that assist businesses in maximizing cash flow, preventing fraud, collection, and disbursement services. At Mechanics Cooperative Bank, our dedicated Cash Management professionals are available to assist in your unique Cash Management service needs with the following services: 

  • Cash Flow Management– These services help businesses improve their cash flow and manage their finances more effectively. 
  • Fraud Prevention– Using Positive Pay, an automated Cash Management service that stops check and ACH fraud before it happens.
  • Collections/Receivables– Remote Deposit Capture, Online Domestic Wire Transfers, and the ability to move funds electronically between Business Checking and Business Savings Accounts make the check handling process convenient, secure, and efficient.
  • Disbursements/Payables– Make payments from the comfort of your office with free ACH Origination enabling a business to make withdrawals, payments, or send direct deposits to suppliers, vendors, and creditors.

What do business owners gain from our Cash Management Services?

At Mechanics Cooperative Bank, our dedicated team is committed to providing the support local businesses need to grow. When you sign up for Cash Management services with us, you’ll gain the support you need to thrive in our community. 

  • Security – Business owners can rest assured they will feel just as safe online as they do when walking into one of our local branches. Our Business Internet and Mobile Banking services allow users to set up eAlerts that send notices when balance thresholds are met or when specific checks clear to ensure a business is running as usual with nothing in between.
  • Productivity – Save time with quick, full-time Cash Management tools built to increase the efficiency of day-to-day business operations.
  • Control – Providing various options to manage cash allows you to control how you want to do business and optimize cash flow. 
  • Timeliness – Save time and effort with various digital banking options to manage your business’s daily financial position. With Business Internet and Mobile Banking, you can review account information, pay bills, and access ACH Services. In addition, making deposits has never been more flexible with mobile deposits through mobile banking, using a scanner connected to a desktop computer, or paying a visit to one of our local branches.

Looking to unlock your local business’s potential with cash management services? Take advantage of this special $100 Cash Management bonus offer at Mechanics Cooperative Bank for a limited time by contacting us today!