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.
Customized Business Tools That Grow With You.
“Your system and Stacey Chase have made our lives easier and saved us money overall. She was local and is always there if we have a question and she can get things done! We are thankful we found her and your bank. Your folks clearly listen to your customers and make it happen!”
Money Transfer Options
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.
Benefits of Electronic funds transfers
Our ACH program offers a convenient, reliable, simple and economical means to:
- Direct deposit employee payroll (eliminate lost checks, stop payments and paycheck reconciliation)
- Pay vendors (eliminate the need to mail checks)
- Submit State and Federal payroll taxes
- Collect recurring or one-time customer payments (enhance cash flow, accelerate payments and reduce delinquencies)
- Transfer balances to and from your accounts with other banks
We offer set-up assistance and local attentive service as well as software that enables you to:
- Create templates for repetitive payments or collections
- Schedule batches in advance or submit them for next day (or same day) settlement
- Import a NACHA or CSV formatted file
- Utilize security protections like limiting the time of day or specific computing device for conducting activity on your account
- Grant user access in a highly customized way to meet your unique operating needs
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.
Benefits of Wire Transfers
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.
Convenient
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.
Benefits of sweep transfers
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
- Sweeping excess funds to another Union Bank deposit account or to pay down a line of credit
- Eliminating the time and expense to manually analyze daily cash positions
- Maintaining separate accounts while centralizing cash control
24/7 Banking on Your Schedule
Mobile Banking
Have your accounts at your fingertips wherever you may be with mobile banking from Union Bank. Learn More About Mobile Banking
Online banking on your phone or iPad:
- View account balances
- Transfer funds between accounts
- View transaction history, account statements and images of both issued and deposited checks
- Use our bill pay service to send funds to one of your established payees
- Deposit checks with our Mobile Check Deposit function and your Smartphone.
- Safe and secure – we use 128-bit SSL (Secure Socket Layer) encryption
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. Learn More About Online Banking
Union Bank’s digital banking system offers you:
- View account balances
- View transaction history, account statements and images of both issued and deposited checks
- Transfer funds among your Union Bank accounts (including making Union Bank loan payments)
- Request a Stop Payment on a check
- Initiate a bill payment (one-time or recurring)
- Establish email alert notices to advise you when your balance falls below or exceeds a certain dollar threshold or when certain transactions have occurred
- Safe and secure – we use 128-bit SSL (Secure Socket Layer) encryption
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. Learn More About Remote Check Deposit
Our Remote Deposit Check Capture service offers you:
- A safe, convenient, and secure deposit solution
- Web-based deposit transmission using current security protocols
- Flexibility regarding the time and location that’s best for you to make your deposits
- An economical way to save time and expense with fewer trips to the bank
- Customizable deposit reports with the ability to review images of deposited checks
- An unlimited number of deposits for a small monthly fee (for the scanner-based method)
- Submission up to 4PM for same-business-day credit
“As John promised it would be, my experience with their mobile app has been very positive. Although I am a relatively new customer of Union Bank, I am quickly becoming a loyal fan.”
Cards and Card Processing
Quick and easy credit and debit card processing
Merchant 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. Learn More About Our Merchant Services
Benefits Include:
- Guaranteed settlement of funds next business day into a Union Bank deposit account
- In-person expertise to help you contest charge-backs
- Around-the-clock technical support, every day of the year
- Fast equipment replacement (in most cases same day)
- Free paper supplies
- Timely terminal updates so you qualify for the lowest rates and meet Card Association mandates
- Online access to detailed account information through a secure web portal
- Check verification/guarantee service
- Breach insurance for fraud protection
- Gift and customer loyalty-cards options
- Service fees applied monthly after you receive your statement
Full-Service Union Bank Business Cards
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. Learn More About Our Debit Business Card
Take advantage of an array of other business and travel benefits.
- Convenient: no-fee access to 55,000 Allpoint® ATM’s. You can locate a surcharge-free ATM near you by visiting the Allpoint Network website or mobile app
- Secure: with the preset spending limits for your employees and liability protection for unauthorized purchases (see MasterCard.com for details on this and the following benefits)
- Valuable: protection services like Purchase Assurance, Extended Warranty and Car Rental Insurance as well as Travel assistance services
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 MyCardStatement.com. Learn More About Our Visa Business Credit Card
Secure Banking Services
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.
Positive Pay Features
- Positive Pay uses data that you submit listing your issued and outstanding checks to ensure that checks being presented for payment correspond to your outstanding checks.
- ACH Filtering allows you to ‘white list’ Automated Clearing House (ACH) transactions (and dollar thresholds) from vendors or merchants that you identify for approval. Other ACH electronic transactions are held for your review.
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.
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.
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.
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).
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).
“Its so nice to visit one website and be able to take care of all of these needs instead of having to log in and out of multiple other websites. In about 5 minutes I can pay our employees and the payroll taxes, and If I have any problems, Lacey Williams is always so helpful!”
Contact any of our Commercial Lending Team to get started or stop by your local branch.
* If depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.
Placement of your funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures set forth in the agreements you enter into with us, including the applicable Deposit Placement Agreement. Limits apply, and customer eligibility criteria may apply. ICS program withdrawals are limited to six per month when using the ICS savings option. ICS, Insured Cash Sweep,and CDARS are registered service marks of Promontory Interfinancial Network, LLC.
** Commercial and Business Checking item fees still apply.