Timely access to your daily cash position and account activity enables you to make more informed decisions, maximize investment earnings and minimize borrowing costs.
Account Activity and Balance Reporting
Debits and credits to your deposit account and balances are reported to you via Online Banking, secure e-mail, or fax.
Balances, account activity and service charge information in your deposit accounts are consolidated into a single monthly Account Analysis statement. Combined balances are used to calculate an Earnings Credit which is used to offset fees for services used. more
Benefits of Account Analysis:
- Lower costs for banking services
- Larger return on excess liquidity
- Streamlined deposit relationship
Account activity information is presented to you in a manner that permits you to quickly and efficiently reconcile your paid items and deposits. more
Benefits of Account Reconciliation:
- Administrative expenses and clerical workload is reduced.
- Potential fraudulent activity is prevented or identified earlier.
- The number of posting errors may be reduced.
- Accelerate problem resolution, speed check research, and simplify your accounting tasks.
Quickly and conveniently view your cash position, account activity and execute vital transactions whenever you want online. more
- Administration: Assign nick-names for your accounts, set-up users, assign credentials, and review system activity or employee-specific usage.
- Balance Reporting: View balance positions at overview and detailed levels.
- Activity Reporting: Posted and pending transactions in your accounts; up to twelve months of detailed transaction history is available.
- Book Transfers: Generate one-time, future-dated or recurring transfers between your accounts.
- Check Images: View checks posted to your account in the past twelve months. You may also request copies of older checks online.
- Checking Account Statements: Twelve months available for view.
- Stop Payments: Initiate Stop Payments on checks that you have written.
- Notifications: Receive e-mail alerts on your balances, inbound and outbound transfers, or if you have a secure message.
- Reorder checks
- Secure e-mail: Communicate sensitive information with The Commerce Bank in a secure manner.
- Data export: Export data using CSV (Comma Separated Values) and custom formats used in accounting programs for further analysis.
- Wire Transfers: Initiate outgoing repetitive and free-form domestic wire transfers.
- Direct Deposits (ACH): Originate deposits to employees, contractors, sales agents, vendors, shareholders and service providers electronically.
- Tax Payments (ACH): Pay your federal business taxes electronically
- Cash Concentration (ACH): Transfer balances at other financial institutions to your Commerce Bank operating account efficiently and effectively.
- Direct Payments (ACH): Automate collections of recurring accounts receivables.
- Positive Pay: Combat check fraud by ensuring that only checks that you have issued, and electronic debits that you have authorized, are paid through the check collection system. Submit report of checks issued. View check images online and make pay/return decision.
Electronic Data Interchange (EDI) Reporting
Electronic payment information supplied by your trading partners with ACH transactions is translated and reported to you in an understandable format. more
- ACH transaction data is translated into a readable text format.
- Information needed to post payments to your company’s payables and receivables systems is provided such as the payee, account and invoice numbers, payment and discount amount, terms taken, or other industry specific information.
- All payment information for a given date is provided in one report or file.
- Verification of payment receipt allows for timely delivery of products or services to your customers.
- Provides beneficial cash flow information to aid you in setting your cash position.
Cancelled checks are captured as digital images in a database and delivered to you for viewing. more
- Eliminates the need to sort, organize and store checks, deposit slips, and deposited checks.
- Reduces the time and expense associated with item research, storage and security.
- Provides faster access to your transactions and checks.
- Provides all over-the-counter, Lockbox and Remote Deposits through a single point of access.
- Easily deliver images to customers and vendors as a service or to help resolve payment disputes.