TREASURY MANAGEMENT

At Colony Bank, we’re dedicated to offering you convenient and valuable services to support your business needs. Our Treasury Management team aims to understand your unique business processes in order to offer you products and services that will help make managing your finances easier.

ACH Positive Pay

Safeguard your account and help prevent fraudulent ACH activity. Incoming ACH transactions are compared against ACH filters created by you. If the item does not match or meet your filter requirements, the items are routed to your exception queue for review and decisioning. Email alerts notify you of exceptions to review. ACH filters can be created at the exception decision screen.

  • Online pay/return decisioning, no longer need to call the local banking center to make return requests
  • Automated exception notification emails

Positive Pay

Protect yourself against fraudsters by monitoring check and ACH transactions.

  • When a check is presented, it’s matched against the check you’ve issued. Any mismatch information will require you to review the item
  • Payee Check Positive is an added benefit to match payee information
  • With ACH, you can use company IDs to define who debits your account. You can also define filters to not accept incoming drafts. ACH transactions outside of these defined filters will require you to review

CDARS

CDARS known as Certificate of Deposit Account Registry Service allows us to place large deposit amounts into CDs issued by other banks in the CDARS® Network in increments under the standard FDIC insurance maximum.

  • Both principal and interest are eligible for FDIC coverage
  • Offers daily compounding interest
  • A set maturity date
  • A single consolidated account statement of all funds
  • Reduce time spent managing multiple bank relationships
  • Reduce administrative activities of maintain maturity dates and organizing interest disbursements from various financial institutions

ICS Services

Keep your funds protected with additional insurance for accounts with balances exceeding the FDIC’s standard coverage limit of $250,000.

  • ICS Promontory Account Inquiry

ACH Manager

Quickly create electronic payments, payroll deposits, expense reimbursement, and other transfers when and where you want.

  • Save money with no check handling fees and lower reconciliation costs
  • Added efficiency for your cash flow
  • Enhanced security allowing for dual control of authorization of payments
  • ACH payments are typically received and settled within 2 business days
  • Same-Day ACH is available

Wire Manager

When same-day availability of funds is a necessity, it’s good to know you’re in control of seeing it through. Wire Manager makes it convenient to transfer money between accounts at different financial institutions right from your office.

  • Security controls give you the options to set limits on the number and dollar amount of transactions, utilize multi-factor authentication, and offers dual control
  • Use free form wire entry or predefined templates

As always, please do not include any sensitive information (account numbers or personal data) within unsecure emails.

ACH Manager

  • Looking for quick turnaround time with accounts receivables, from monthly tuition payments, gym membership, to lawn care, creating a one-time or monthly recurring draft payment is a snap.
    • Added efficiency for your cash flow
    • Enhanced security allowing for dual control of authorization of payments
    • ACH drafts typically are received and settled within 1 business day.
    • Same-Day ACH is available

Image Cash Letter - EDI X.937

  • Using your internal check processing system to collect check images that convert them into an industry-standard image cash letter can be transmitted directly to Colony Bank for deposit.
    • Experience fewer rejects and adjustments
    • Reduction of cost, time, and risk with transporting paper checks to the bank.

Merchant Services

  • Colony Bank has partnered with BancCard to bring you merchant services that will improve the day-to-day operations of your business. With a smooth and safe payment process, you can ensure better service and experience for you and your customers.

Remote Deposit Capture

  • Save yourself a trip to the bank and quickly turn checks into cash. With Remote Deposit Capture, you simply scan checks received from your customers and make electronic deposits directly to Colony Bank, anytime day or night.
    • This service utilizes a desktop scanner that connects to your PC and the Internet allowing you to scan, submit, and deposit - all from your desk!
    • Improve cash flow with fast and secure funding

Offered to eligible commercial customers only and request is subject to management approval.

Wholesale and Retail Lockbox

  • Increase your cash flow and productivity with an automated, efficient process for posting receivables.
    • Retail Lockbox: For businesses receiving frequent, low-dollar payments from retail consumers, this service helps to streamline your process.
    • Wholesale Lockbox: This is designed for business-to-business payment transactions that tend to be for high-dollar amounts.
    • All you have to do with Retail and Wholesale Lockboxes is send your customer the invoice. Once this is done, your customers will receive the invoice with a designated P.O. Box address to send their remittance. This P.O. Box will be checked various times throughout the day. Once the remittance is received, it will be processed, and the money will be deposited into the business account for you to see.

Invoice and Payment details are available to upload into your accounts receivable system.


Business Banking On-the-Go

We offer 24-hour online banking and cash management services. Whether your company needs comprehensive balance information or direct payment capability, this 24/7/365 service can meet your needs.
-Real-time Account Balances
-Direct Deposit of Payroll
-ACH Origination
-Wire Transfers
-Transfer Funds between accounts in real-time
-Bill Pay Services
-Positive Pay
-Small Business Specialty Lending Account Inquiry
-All in a fully safe and secure environment

Direct Connect for QuickBooks
-Direct access to account activity makes managing income and expenses easier.

Multi Bank Reporting
-If you bank with multiple financial institutions, access all of your account balances and reports in one place to know your company’s position at any time.
-For customers with robust accounting software, we offer you the ability to create a BAI2 formatted file.


For additional information, please contact a Treasury Management Specialist at (855) 389-2265 or email treasury@colonybank.com available Monday through Friday, 8:30 a.m. - 5:00 p.m. Or, talk to one of our Universal Bankers at one of our convenient locations near you.
Our Business Mobile Banking App is designed with the small business customer in mind. Business Mobile Banking lets you quickly manage your business accounts while on the go from your Smartphone. Easily check account balances, monitor transaction activity, and initiate transfers between your Colony Bank accounts. Business Mobile Banking can alert you to approve ACH files, internal transfers and wire transfers. Our Business Mobile Banking product also features Mobile Check Deposit which allows you to deposit checks anywhere and anytime. Download our Business Mobile App from the Apple® App Store or Google® Play Store™.
Features:
-Mobile check deposit - deposit checks right from your mobile device
-Check account balances - view available balances
-View transaction history - view history from current and previous statements
-Transfer funds between Colony Bank business accounts - move funds from linked accounts on your Business Online profile
Use the Business Mobile Deposit service from Colony Business Mobile Banking to simply and securely deposit a check from the convenience of your mobile device. Deposits can now be made anywhere and anytime.
-Submit deposits 24/7
-View previous and pending deposits
-Reduce time away from your business with fewer trips to the bank
Android, iPhone and iPad devices with the following Operating Systems are supported: Android™ (Android): 2.3 or later Apple® (Apple) iOS: iOS 6.0 or later
Stay organized with this safe, convenient, and reliable way to pay all of your bills on time and in one place.

-Receive and pay e-Bills online
-Schedule repeating payments
-Group similar bills together
-Electronically link invoice and credit memo information with your payments
-Administer three levels of user authorization to include dual control features