Information & Cash Flow
Harness the power of our automated tools to make the most of your business finances. Our sweep accounts help manage debt and maximize interest, while our commercial online banking and mobile banking platforms allow for simple yet sophisticated information management of your business accounts to help you maintain liquidity and mitigate risk.
Treasury Management Commercial Online Banking
Our Treasury Management Commercial Online Banking platform is designed specifically for mid-size to large commercial customers who want a complete financial overview with one click. Its robust platform helps manage day-to-day cash flow as well as long-term financial positions. Users get account access, account information, transaction history, and the ability to make or break stop payments and positive pay items, such as checks and ACH. Transfer funds, export data or utilize a host of other self-administration options to grant other users customized access. Our highly configurable cash management solution pairs the control and convenience you demand with first-rate security, providing a better user experience through feature-rich capabilities, speed and simplicity.
We know you’re always on the go but sometimes need your finances at your fingertips. That’s why we provide our commercial customers with sleek, easy-to-use native mobile banking apps for iPhone®, iPad® or Android™, plus a mobile banking site at mobile.altabank.com. Mobile banking allows you to access real-time online banking through your smart phone, where you can view account history, pay bills, transfer funds, conduct bank-to-bank transfers, deposit checks, and look up locations or fee-free ATMs.
Investment Sweep Accounts
If you’re looking for an easy way to put your money to work for you, Altabank’s investment sweep accounts provide a smart option to continue earning money when you’re off the clock. We’ll help you determine an average balance that should be kept in your primary BizSmart™ checking account to cover day-to-day expenses. At the close of each business day, any amount that exceeds the average balance will be automatically “swept” into a secondary, higher interest-earning, liquid investment account, such as a money market fund.* If your primary account falls below the predetermined average balance, money is swept back into the checking account to ensure you always have enough cash on hand for business activity. Investment sweep accounts are an effective, low-risk way to balance your needs for cash flow and investing.
Loan Sweep Accounts
Instead of making monthly payments towards your line of credit, Altabank offers an easier way to pay down short-term borrowing. We’ll work with you to determine an average balance that will be maintained in your primary BizSmart™ checking account to cover day-to-day expenses. At the close of each business day, any amount that exceeds the average balance will be automatically “swept” over to your line of credit to pay down the balance. This daily sweep helps you efficiently manage debt while reducing interest expense and avoiding fees. It also works the other way around, sweeping funds from your line of credit back into your operating account to cover any shortages.
Zero Balance Accounts
Eliminate the need to manage transactions and balances in multiple accounts by having all funds deposited into a master “parent” checking account. The “child” accounts tied to the master account maintain a zero balance by automatically transferring funds from the parent account in an amount only large enough to cover checks presented in the child accounts. Any deposits made to the child accounts are also automatically swept into the parent account at the end of each business day to maintain a zero balance. This fully automated transfer process eliminates idle balances and the need to manually transfer funds across multiple accounts, provides greater control over disbursements, and offers a consolidated view of overall cash.
*An investment in a money market fund is not FDIC insured or guaranteed by any other government agency, it is not a deposit or other obligation of, or guaranteed by, the bank, and it is subject to investment risks, including possible loss of the principal amount invested.
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