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Account Reconcilement Services

Deposit Reconcilement

Provides control over a high volume of deposits from different locations.

  • An assigned serial number is required in the MICR line of deposit tickets
  • The serial number tracks and subtotals deposits made at various locations
  • The customer receives a report from the bank with a list of deposits sorted by the assigned serial number

 

Full Reconcilement

Reporting of all check/debit and deposit/credit transactions paid against your account during a specified cycle.

  • The customer sends the bank an electronic file with check numbers, issue dates, and corresponding dollar amounts of all checks issued on a daily basis
  • The bank compares issued check information to checks clearing and other transaction activity on the customer's account
  • Reports may be produced to assist in balancing the account

 

Partial Reconcilement

Reporting of all checks/debits paid against your account during nightly processing.

  • The bank delivers an electronic check paid report of checks paid to the customer
  • Checks are listed in serial order number

 

Positive Pay

Provides daily monitoring of all checking activity and allows for immediate decisions regarding possible fraudulent items.

  • Prior to releasing checks, the customer uploads a file to the bank with an issue file containing check serial number, dollar amount and payee name of each item
  • Items matching the issue file are paid and removed from the outstanding items file
  • Items that do not match the issued file are identified as exceptions and presented to the customer for pay/no pay decisions
  • Timely identification of altered and counterfeit checks allows them to be returned within the required 24-hour deadline
  • Daily and monthly reconcilement reports are available

 

For more information, please contact us.