This cash concentration service centralizes the control and management of funds for both collection and disbursement applications by linking accounts.
Here's how it works: Link one or more accounts to your main checking account. During the business day, activity in your accounts will result in a positive or negative intra-day balance. At the end of the day, we tabulate all transactions and move funds sufficient to bring all of your sub accounts back to a zero ledger balance. We eliminate worries on your part about which account to move the funds to that day; all you need to do is make sure your main concentration account has enough funds for all of your daily activity. An excellent service for Payroll Accounts.
- Eliminate excess balances in multiple accounts
- Save time and money
- Reduce overdraft risk
- Maximize balances for investment and financing purposes
- Automatic funds transfer
- Centralized cash control
- Additional audit control