The Commerce Bank of Washington

Collections and Disbursements

With these Treasury Management Services from The Commerce Bank of Washington, you can improve your business’ cash flow by streamlining your receivables processes and centralizing receipts; control the flow of disbursements; and reduce transaction costs.

Direct Deposit (ACH) Origination

Automate payment disbursement – such as payroll, employee expense reimbursements, pension or annuity payments, and shareholder dividends – by electronically crediting recipients’ bank accounts. more

Direct Deposit is simple:

  • It simplifies your account reconciliation process. Your statement will have a single dollar amount for the total amount of the Direct Deposit transactions versus individual check amounts to reconcile.
  • It eliminates manual check preparation, which can reduce administration costs.
  • There are fewer checks to print and store.

Direct Deposit is safe:

  • Direct Deposit payments never get lost or stolen.
  • Fraud is reduced because there is less potential for counterfeit checks, stolen checks or signature plates, altered amounts and forged signatures.
  • No signatures are required, so there is no need for facsimile signature security.

Direct Deposit is smart:

  • Save anywhere from $0.50 cents to $1.25 per payment by using Direct Deposit instead of checks.
  • The potential for errors is reduced because Direct Deposit requires less manual handling than checks.
  • The chance of having a problem with checks is much greater than any potential problem you might have with Direct Deposit.
  • Productivity can be increased due to employees spending less time away from work to cash or deposit payroll checks.

Direct Payment (ACH) Origination

Automate collection of regular payments such as insurance premiums, membership dues, rent and utility payments by electronically debiting customer accounts. more

Direct Payment is safe:

  • It reduces returned payments and posting errors due to the speed of processing payments and the increased accuracy of customer information.
  • Payment collection is timely and automated; your organization always knows when it will be receiving payments.

Direct Payment is smart:

  • It saves an average of 11.5 cents per payment versus checks due to reduced processing costs.
  • It can enhance your customer experience and increase loyalty, providing a payment option that is reliable, accurate, convenient, and confidential.
  • The timing of your receipts will be more predictable and reliable, allowing for more accurate cash flow forecasting and informed investment decisions.

Controlled Disbursement

Receive early morning notification of checks that are about to clear. more

Benefits of Controlled Disbursement:

  • Remote presentment points provide additional disbursement float.
  • Investment and borrowing opportunities are maximized.
  • Better control of outgoing cash flow.
  • You can borrow or invest early in the day, thus making the most of funds.
  • You can more precisely identify your daily cash position and fund the majority of disbursements on a same-day basis.

Remote Deposits

Deposit checks electronically into your accounts right from your office using your computer and a desk-top check image scanner supplied by The Commerce Bank of Washington. more

Benefits of Remote Deposit:

  • Most checks clear on the next or second business day following deposit. Faster clearing means less float and higher earnings credit.
  • Deposits can be made 24 hours a day, 7 days a week; you receive same-day credit for deposits made before 5pm (PT) on regular banking days.
  • The time and cost of trips to the bank to deposit checks is eliminated.
  • Time-intensive efforts to concentrate deposits into a single account are eliminated.
  • Geographical barriers are removed, allowing you to consolidate banking relationships.
  • Fraud risk is reduced with faster deposits, clearing and return check notifications.
  • Scanned documents produce quick deposit validation and balancing.
  • Your deposit reconciliation process is streamlined and redundant operations are consolidated.
  • Check images may be retrieved, reports being generated of historical deposit activity, and data exported to other applications.
  • Centralization of deposits may result in larger balances to offset fees.
  • Your employees will have more time to take care of customers.
  • You don't need to fill out a deposit ticket; the service creates a virtual deposit ticket.
  • No need to endorse the checks; the service creates a restricted endorsement automatically.

Tax Payment Services

Pay federal taxes quickly and easily over the Internet.

Lockbox Services

Convert receivables into cash quickly, efficiently and accurately – maximize the use of funds and resources. more

Benefits of Lockbox Services:

  • Reduced receivables float – the time that payments are in the mail, being processed and delivered to the bank for deposit
  • Reduced staff processing time – deposit preparation, bank trips, and receivables data key entry
  • Increased audit controls – separates receivables/payables processes and automates data entry for error reduction

Wire Transfer Services

Transfer funds quickly, safely and cost-effectively across the country or around the world. more

Benefits of Wire Transfer Services:

  • Wire transfer provides same-day availability of funds.
  • Repetitive templates reduce the time it takes to originate wires.
  • Recipients are guaranteed that funds are available — facilitating immediate shipment of goods.

Zero Balance Account Service

Maintain separate depository and disbursement accounts for record keeping, monitoring and control; and automate the daily cash consolidation between the ZBA and main operating accounts. more

Benefits of ZBA Accounts:

  • Excess idle funds are minimized; funds usage is maximized via cash concentration.
  • Reduce overdraft risk with automatic funding from the master account to cover daily disbursements.
  • Improve ability to manage separate bank accounts for each company location or for various accounting purposes.
  • Reduce workload by minimizing or eliminating time required to forecast and manually fund accounts.

Courier Services

Check deposits and significant documents are picked up by a courier at your place of business and delivered directly to The Commerce Bank of Washington. more

  • Door-to-door service – no need to travel to the bank
  • Same day posting

Vault Services

Convert cash deposits quickly to collected funds and automate your cash and currency ordering in an efficient, secure environment. more

  • Safety and integrity of deposit processing and cash handling is ensured because procedures and operations are stringently monitored.
  • Risk of theft or loss of deposits are reduced through increased security measures.
  • Equipment employs a counterfeit detection mechanism and employees are trained to detect and handle counterfeit items.
  • Reduce staff expense and time to deliver deposits to the bank.
  • Orders for coin and currency are filled quickly and conveniently.
  • Deposits by location are tracked and verified.
  • Cash inventories on premises are eliminated.
  • Organizations with multiple locations are able to consolidate deposits into one account with deposits identified by location.

© 2008 - 2014 The Commerce Bank of Washington, N.A.