TCB in the Community

Lunch ‘n’ Learn Recap: Business Deposits & Treasury Management

posted on June 4, 2019 in Business

Photo credit: BuffBurger

Every last Thursday of the month, The Cannon and Cannon Ventures host a Lunch ‘n’ Learn. Last week, we helped business owners understand the benefits of treasury management and having a real relationship with your bank.

If you haven’t heard, The Cannon is a massive new development Texas Citizens Bank is helping finance. Located in Houston’s new Founders District, the finished product includes a 120,000 square-foot building on a 32-acre campus. It will serve as both a co-working space and incubator to 120+ businesses. In other words, “Houston’s Campus for Entrepreneurs.”

Texas Citizens Bank has participated in several Lunch ‘n’ Learns since Cannon Ventures first started the series in 2018. Our executives have joined panels and other VPs and banking experts have drilled in on niche banking topics, such as invoice financing and credit insurance.

This week, our 40+ year banking veteran and TMS expert, Beth Gilliard, dove into several popular Treasury Management Services (TMS). Here are the important takeaways from Beth Gilliard’s TMS portion of the seminar:

Online Wire Transfers

  • Simplifies payment process
  • Reduces human error
  • Saves history for comprehensive record keeping
  • Secure – You get an instant call back for two-step authorization

Payroll

  • Get assistance with your payroll payments if done through our Online Business Banking portal
  • Setting up payroll online establishes a consist, automated process
  • Checks are expensive for employers because they have to reconcile every month
  • The average cost of Automated Clearing House (ACH) item is $0.20

Business Mobile Banking

  • Mobile Check Deposit
  • $10,000 limit for business
  • $1,000 limit for individual
  • Can call to increase the limit for the day

ACH–Debit

  • If sent by 4 pm, it will be credited the next morning (if a business day), same as a check

QuickBooks®

  • Export and import CSV files to and from QuickBooks
  • Compatible with QuickBooks Online, QuickBooks Desktop, and QuickBooks Enterprise
  • Just type in “Texas Citizens Bank” in the OAuth connection
  • Keeps a two-year history
  • Integrates with our Remote Deposit Capture check scanner as well
  • This integration lets you download a file specific to your system requirements

Watch Beth Gilliard walk through QuickBooks compatibilities available through Online Business Banking:

 

Switching banks

  • We use an interactive Switch Kit PDF to help make the switch as painless as possible
  • Kellie also personally walks new customers through the process

Card Valet

  • Along with a debit card, you’ll get an app that lets you control your card from your phone
    • From the app you can:
      • Turn card off and on to protect from fraud
      • Set limits directly from your phone, helpful when lending card to an employee for business purchases

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