Cash Management

We offer a powerful lineup of specialized banking accounts and services to help you get the most out of your business finances: Zero Balance Accounts, Sweep Accounts, Internet Cash Manager, Wire Transfers, Deposit Manager, Lockbox Service, and more. Discover how we can strengthen your business.

 

Internet Cash Manager Demo

 

ACH Manager

This option lets you use your Internet Cash Manager as an electronic entry generator, and allows for initiation of electronic debits and credits for paying bills, as well as direct deposit of payroll and deposits of ACH credits in any Westfield Bank commercial account. 
 

Wire Transfers

Need to transfer funds quickly and securely? You can wire money both domestically and internationally in U.S. Dollars or foreign currency through our Wire Desk. You can also wire U.S. Dollars using our Internet Cash Manager Service.
 

Positive Pay/Account Reconciliation

This security boosting option reduces the opportunity for check fraud on the company account. Positive Pay enables you to transmit a file of issued checks to the bank when they are produced. As checks clear through the account they are matched to the issued file. Any exceptions will be flagged by the system for review prior to final disposition. With Positive Pay you can:

  • Reconcile your account "real time" as outstanding items are processed.
  • Access check images quickly to simplify research.
  • Identify discrepancies automatically.
     

Deposit Manager

Process checks and manage funds using our remote deposit banking services. The Deposit Manager is a combination of hardware, software and support services that enables you to:

  • Access funds faster, including out-of-state checks via your internet connection
  • Track and manage deposits online
  • Eliminate trips to the bank
  • Process checks from multiple locations
  • View images of processed checks 
     

Lock Box Service

Simplify the collection and processing of payments. We'll collect your customers' payments from the lock box and deposit the money directly into your account. This simple and secure option reduces your trips to the bank, and improves the collection of checks while reducing the handling, time and expense within your company. All payment support records are forwarded to the company for documentation purposes.


Zero Balance Accounts (ZBA)

This self-zeroing account makes it easy to keep track of specific sub-accounts, such as petty cash. The ZBA account can work as a collection or dispersing account, transferring and extracting funds into your main account at the end of the day and always bringing the account back to zero. You can also set up automatic transfers into or from a master account. The ZBA account benefits your company through control and ease of accounting.


Sweep Accounts (Target Balance)

You set the parameters, and the sweep account automatically distributes funds between deposit, investment, and/or loan accounts. It will allocate your funds in the most profitable manner for your business, without daily intervention. Sweep accounts are available as two- or three-way sweeps to ensure your business' resources are where you need them, when you need them. You may monitor all sweep activity through the Internet Cash Manager.
 

For more information, please contact Lauri Lavell or Christine O'Dea at (413) 568-1911.

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