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Union Bank

Cash Management

Part of being successful involves making the best use of your money and your time. Cash Management Services from Union Bank can help your organization operate more efficiently and effectively by better managing your funds, accelerating the collection of receipts and optimizing the timing of your outgoing payments.

Electronic Funds Transfer Via ACH

Union Bank can help your organization electronically send or collect funds nationwide using the Automated Clearing House (ACH). ACH is the economical way to gain fast access to funds while reducing some of the risks inherent in dealing with paper checks. The benefits of ACH are substantial and Union Bank’s ACH service lets you accurately, efficiently and economically transfer funds to or from individuals and businesses with accounts at any bank or credit union in the United States.

Our ACH program offers a convenient, reliable, simple and economical means to:

We offer set-up assistance and local attentive service as well as software that enables you to:

Wire Transfers

Wire transfers are a fast, safe and secure way to send money nationwide or internationally. Union Bank can initiate a wire order to transfer funds from your Union Bank deposit account through the Federal Reserve System to accounts at other financial institutions worldwide. Wire transfers initiated by 2 p.m. typically receive same day delivery to banks in the US.

Immediate Funds Availability

Domestic transfers arrive at their destination on the same business day they are sent. Money transferred via wire is considered collected funds and is available as soon as a wire is credited to the beneficiary account without mailing or check clearing delays.


We can accommodate your in-person, fax or mail wire requests and our Cash Management Customers can electronically request wire transfers.

Repetitive Wires

If you need to send wires on a recurring basis, we can streamline the process for you to transmit funds to the same beneficiary over an extended period of time.

Sweep Transfers Between Accounts

Cash Sweep puts your money to work by sweeping idle funds from your commercial checking account(s) into interest bearing accounts or to pay down line of credit balances. Maximize interest earned and minimize interest paid by investing excess funds and borrowing only the funds that you need.
You can benefit by:

Making sure your deposit account never dips below a designated dollar amount by automatically sweeping funds in from another deposit account or line of credit

Positive Pay and ACH Filtering

Our Positive Pay and ACH Filtering service enables you to detect and mitigate the risks associated with fraudulent checks and ACH transactions.

The Exception Management process provides an efficient method for you and your staff to view and manage any exception items that have been identified for review (i.e. checks that don’t match what you have issued or are stale-dated or ACH transactions from entities that you have not ‘whited listed’) and decide whether the item(s) should be paid or returned.

The service also includes extensive reporting options including check reconciliation reporting, outstanding checks, cleared checks, returned items to help you reconcile, manage and secure your accounts.

Merchant Card Processing Services

With decades of experience, Union Bank is a regional leader in providing credit and debit card processing services. We can simplify the process and quickly set you up to accept debit & credit cards issued by Visa®, MasterCard®, American Express®, Discover and Diners Club.

We offer customized pricing with highly competitive rates, no hidden fees and no cancellation penalties. Choose from a variety of state-of-the-art equipment options to buy or rent, depending on your situation and transaction volume. We offer equipment that is compatible with the EMV security chip requirement.

In addition to very competitive pricing, we offer customer service that is superior to what is typically found from other processors, including: a streamlined application process, in-person set-up, and access to 24-hour technical support.

Benefits include:


FDIC Insured Deposit Options

Certificate of Deposit Account Registry Service (CDARS ®):

Conveniently access multi-million-dollar FDIC insurance coverage and earn CD-level rates (typically rates comparable to Treasuries and money market funds) while working directly with Union Bank. Earn one rate for each CD maturity and enjoy the option of reinvesting funds through a simple process. We provide you with one easy-to-read statement summarizing all your CD holdings. Deposits up to $250,000 are insured by the FDIC. When you open a Certificate of Deposit Account Registry Service (CDARS) CD with Union Bank, you can increase that FDIC coverage to millions of dollars.

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Insured Cash Sweep® (ICS) service:

With Union Bank you can secure your large deposits while maintaining access to funds. With the ICS service, you can earn interest on funds placed into checking (demand deposit) accounts or money market deposit accounts, while receiving multi-million-dollar FDIC insurance. Access funds through unlimited program withdrawals(using the ICS demand option) or up to six program withdrawals per month (using the ICS money market savings option).

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With both ICS and CDARS , you benefit from:

Simplicity: Work directly with Union Bank and eliminate the need to manage multiple bank relationships in order to insure your deposits above the normal FDIC $250,000 limit. We manage the placement of your funds at participating banks to maximize your FDIC insurance coverage. You receive just one monthly statement from us summarizing  your account activity and balances. And, if you manage finances for an organization accustomed to deposit collateralization, you will reduce the need to track collateral on an ongoing basis.*

Safety: Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

Earnings: Put excess cash balances to work by placing funds into demand deposit accounts or money market deposit accounts using the ICS savings option, or interest bearing certificates of deposit (CDs) using CDARS. Earn one rate on your ICS savings deposits, one rate on your ICS demand deposits, and one rate per maturity on your CDARS deposits.

Access: Enjoy unlimited withdrawals using the ICS demand option, or make up to six program withdrawals per month using the ICS savings option. With CDARS, select from a range of CD maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).

Online Banking

Union Bank’s digital banking system offers you 24/7 access to view your accounts and transact business when and where you want:

Mobile Banking

Have your accounts at your fingertips wherever you may be with mobile banking from Union Bank. Our safe and secure Smart Phone and iPad apps give you the features of online banking on your phone or iPad:

Remote Check Deposit

Our remote check deposit service (also known as Remote Deposit Capture) provides you the flexibility to manage your business banking on your schedule. By scanning and electronically depositing checks from your office, you save time and stay focused on running your business. You can use a check scanner to deposit an unlimited number of items for one monthly fee. **  Along with Union Bank’s online and mobile banking options, our remote check deposit service is another tool to help you enjoy more efficient, less stressful banking. For smaller organizations with fewer items to deposit, we offer the option of a single-feed check scanner or depositing via our mobile banking smart phone app.

Our Remote Deposit Check Capture service offers you:

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Debit MasterCard Business Card:

Enjoy increased purchasing flexibility, cash access, convenience and safety. With a Union Bank Debit MasterCard for Business you can better manage cash flow and record keeping and take advantage of an array of other business and travel benefits.

Visa Business Card

Union Bank’s Visa® Business Credit Card is accepted around the world, offers 24/7 U.S.-based customer support, and provides multiple layers of protection that give you security, including Verified by Visa® for added protection with online purchases and free identity theft assistance. The card acts as a charge card with the monthly bill paid in full (vs. extending payment and incurring interest as with a credit card). With Online Account Access, you can make payments, view account activity and download statements using

Night Deposit Box

Safely drop off your check and cash receipts in our branch night deposit boxes instead of leaving your daily collections in your store or office overnight. You have the assurance of knowing that your funds are safely at the bank. Night deposits are removed from the depository and counted under the dual control of two bank employees. If you request, you have the option of having your night deposits counted in front of you the following business day.

For more information Stop by  any of our branch locations, or contact a member of our Commercial Lending Team to learn more.


Cash Management Services VT

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