Cash-Management

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Cash Management

It's simple: controlling cash is important in business.

Amalgamated Bank of Chicago offers a full line of cash management services so you can achieve complete control over your organization's cash.

Cash Management Services help you accelerate the collection of receivables, manage disbursements, invest excess cash and access information. Our banking experts can custom-tailor services to meet your particular needs and deliver positive bottom-line results.

Collection and Disbursement Services*

Lockbox Service

Lockbox Plus

Retail Lockbox Service

Remote Check Capture

WebPay

Secure web-based service for online payments. Receive a personal and confidential identification number, password and step-by-step payment instructions.

Simplified Single Payment (S.S.P.)

A service that lets contractors make a single check payment to unions for various employee benefit funds (e.g., pension, health & welfare, legal, education, etc.).

Zero Balance Accounts (ZBA)

Our Zero Balance Account processing gives you centralized cash control with decentralized disbursement and deposit options, as well as an automated funds transfer program to help you maximize interest revenue.

ACH (Automated Clearing House)

An electronic delivery system that lets you move funds between Amalgamated Bank of Chicago and banks domestically.

ACH Fraud Prevention

With increased fraud occurring through Automated Clearing House (ACH) transactions, Amalgamated Bank of Chicago offers full ACH debit blocks for our business clients.

Controlled Disbursement

Controlled Disbursement tells you by 9:00 am Central Time each morning the exact check-clearing totals that will be charged to your account that day.

Information Services

Customized Sweep Processing

Excess balances can be moved to a variety of investment vehicles on a regular basis as determined by your cash needs.

Information Reporting

Web-based solution that allows you to monitor account activity, initiate transactions and access information about your accounts at Amalgamated Bank of Chicago.

Positive Pay

Reduce your exposure to high-tech check fraud with our Positive Pay service. Whenever you issue checks, provide Amalgamated Bank of Chicago with check issue data, serial number and check amount via direct transmission. Every day, the system compares the check information with your issue information to make sure they match. Checks that do not match are identified as “suspect” and are paid only with your approval.

CD-ROM Imaging

Provides you with images of checks written, as well as your month-end checking statement.

Account Reconcilement

Security Deposit Agreement

A Security Deposit Agreement is a legal document between an employer and a union on behalf of the employer. It works in conjunction with collective bargaining agreements and executive board and/or trustees' decisions to guarantee the prompt payment of benefits due. The process begins with the employer obtaining a Security Deposit Agreement (Cash Bond). The amount depends on employees' wage and fringe benefits prior to the signing of the agreement. The funds are placed in a tiered interest-bearing money market account through Amalgamated Bank of Chicago. Withdrawal from the account may be executed only by the union, payable on demand. At the completion of the contract the balance in the interest-bearing money market account is disbursed as instructed by the union.

To find out more about how our advanced cash management services can benefit your organization, contact your banker today. Don't yet have a banker? Click here and let us introduce ourselves.

*Amalgamated Bank of Chicago account required. Account opening subject to approval.