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

Digital Banking Services

ABOC Link

ABOC Link is an easy-to-use, feature rich, business internet banking system. It not only increases efficiencies with timely reporting, but delivers and retains valuable account and transaction information as well. The system allows you to actively manage your organization’s cash position, funding needs, and payment execution, whether in or out of the office.  ABOC Link delivers a comprehensive set of banking services, along with the ability to define user configuration for intuitive and friendly site navigation, all with a high level of security.

Mobile Banking

Take ABOC Link with you, with our business mobile banking solution – ABOC Link Mobile. Bank anywhere, at any time, with a mobile device of your choice. We realize that sometimes you need to be able to conduct business and make key decisions, regardless of your location, which is why we developed the ability for our business customers to bank on the go. Contact us to learn more. 

Disbursements / Payments

Bill Pay

Set up a payee for one-off or recurring bill payment, with an easy to use bill pay service, available within ABOC Link.  

ACH

Pay your employees and vendors with this electronic payment solution. Items can be scheduled for payment within ABOC Link, with the ability to maintain templates for ongoing use, or you can transmit ACH payment files to us via our Secured File Transfer service.

Wire Transfer

Wire Transfers allow you to electronically send individual U.S. dollar payments, to both domestic and international recipients.

Receivables

Lockbox

With a Lockbox account, you can accelerate collection and deposit of inbound consumer (Retail) and business (Wholesale) check payments, including remittance documents, giving you faster funds availability through reduced processing time and mail float.  Take advantage of the Bank’s postal service relationship, as well as same-day processing and deposits. We are able to convert your receivables to available funds much quicker than having the checks sent to your location for processing.

Lockbox Plus

Gain online access to your daily and historical deposit information, including images of checks, envelopes and remittance documents.

Simplified Single Payment

A service that lets contractors and business partners make a single check payment to be broken out by us for credit to various accounts (e.g., pension, health & welfare, legal, education, etc.).

Electronic Lockbox

We can provide a secure, web-based service for online collection of ACH and Card payments. Electronic Lockbox offers many of the same benefits of a traditional paper-based lockbox, with the benefit of an easy-to-use online payment portal for your employees and customers to make payment through.  

Remote Deposit Capture (RDC)

Using a small tabletop scanner in conjunction with our internet-based RDC service, electronically deposit checks to your account of choice without leaving your office, seeing the credit to your account same day. Also take advantage of access to images of the scanned items, for easy reference, from within the online repository.

Other Services

Check Positive Pay

With check positive pay, you mitigate the risk of check fraud on your bank account. Each business day, we will compare your issued check information to all checks clearing your account, to ensure all items are authorized. You act as decision maker, communicating a pay or return decision, should a check be identified as suspect by us.

ACH Positive Pay

With ACH positive pay, you have the ability to identify permissible entities that are able to debit your account electronically. Set up blocks, and communicate with us on all exception items.

Account Reconciliation

Through the Account Recon service, your check position will be reconciled for you, accounting for issued checks, paid checks, adjustments, as well as stop payments and voids.

Merchant Services

Through our trusted third party partnership, you have the ability to accept card payments in a secured manner, whether onsite at your location or from your ecommerce website, allowing you to better manage your business and cash flow. Contact us to learn more regarding service features and requirements.

Vault Services

Through our currency vault services, you have the ability to have cash and coin transported to/from your location, whether ordering new inventory for your various locations or making a deposit to your ABOC account.

Controlled Disbursement

Receive an early-morning presentment of your checks clearing for the day, allowing you to better determine your daily cash position and potential funding needs.

Zero Balance Accounts (ZBA) and Investment Sweeps

Through our sweep services, you are able to concentrate funds in one primary account and control funding of debits in sub accounts, or maximize interest earned on your daily excess funds.

 

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.