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3 Game-Changing Banking Services Every Entrepreneur Needs

posted on October 19, 2018 in Technology

How Treasury Management Services (TMS) Can Boost Your Business

The best banks offer business services beyond loans and deposits. Taking advantage of your bank’s Treasury Management Services (TMS) could save you countless hours in tedious tasks.

What is Treasury Management?

Treasury Management is a broad term that refers to the collection, concentration, and disbursement of cash. In other words, TMS helps control funds flowing in and out of your business. It is the non-credit side of the bank.  TMS done right improves profitability and reduces risk.

Our business customers swear by these three time-saving TMS banking services:

Remote Deposit Capture

You’ve probably heard of Mobile Check Deposit. That’s bank jargon for the feature on your banking app that lets you deposit checks using your mobile camera.

Remote Deposit Capture takes that concept a step further to help you keep up with business demands. Instead of taking photos one at a time, you can insert multiple checks into the Remote Deposit Capture machine for a quick scan. This lunch-box-sized scanning device allows businesses to avoid bank visits with unlimited deposits and direct uploads to QuickBooks.

“We love Remote Deposit [Capture]. Normally, someone has to take the deposit to the bank every day. Now, they just run checks through the scanner and that’s it. No line, you can do it whenever you want, as many times as you want. And you can close it out any time before four. So the staff loves it, and I love it.” – Angela Gonzalez, DDS, Texas Citizens Bank customer and Artistic Smiles business owner

Business Mobile Banking

Much of today’s business is done directly from a smart phone—calls, emails, scheduling. Business Mobile Banking makes business transactions just as flexible.

Many Business Mobile Banking platforms offer convenient ways to make business payments and view activity. For instance, Texas Citizens Bank’s Business Mobile Banking app lets business customers authorize ACH and Wire transfers, pay bills, transfer funds, and even view scanned checks.

Similar to Zelle, Texas Citizens Bank offers a peer to peer (P2P) payment service, accessible by app or online. P2P allows you to set up payees and send money to friends, regardless of whether they have an account at the same bank. The data is properly encrypted and, thus, more secure than competing services out there. The best part? Unlike Venmo, Texas Citizens Bank charges no transfer fee.

Positive Pay

Fraud can be difficult to spot. Hackers are not only smarter than ever, they’re relentless. However; by adopting a proactive program designed to look for and flag check irregularities and inconsistencies, you can reduce your business’s risk of check fraud and protect against financial loss.

Texas Citizens Bank offers a free Positive Pay account reconciliation service to all its business customers. Along with mitigating risk via real time alerts (much like suspicious bank activity alerts), the digital platform improves accounting tasks and takes human errors out of the equation by automating quality control. All in all, Positive Pay has been a positive—and money-saving—experience for businesses of all sizes.

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