CASH MANAGEMENT SERVICES
What is Positive Pay? Positive Pay is automated fraud detection that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay.
• Proactively reduce fraud – Each check is compared electronically against your list of transmitted checks.
• Peace of mind – We verify each check prior to it clearing your account.
• Save time – Electronically transmit a file to the bank instantly.
• Easy to use – Simply transmit a file each day checks are written.
You concentrate on your business, we'll manage your cash.
Bank of Luxemburg Cash Management Services keep your working capital working hard, every day.
Cash Sweep Account
With a Cash Sweep Account you can receive a competitive return on your excess business checking balances. A Cash Sweep Account is a convenient way to earn interest on the idle balance in your checking account. Once you've opened a Cash Sweep Account – or modified your existing account – cash in excess of a target balance is automatically invested in an interest-bearing money market account each night. Plus, we keep your deposits here at Bank of Luxemburg.
Rest assured, if your end-of-day balance falls below your pre-set target, funds are automatically swept back into your checking account to meet your liquidity needs. There are no transaction or penalty fees, no need to stress over your daily balance and no hassle.
The benefits of a Cash Sweep Account add up quickly:
• Earn interest on the idle balances in your business checking accounts.
• It's easy to start the automatic transfer of balances between your accounts and the system requires minimal management.
• Enjoy unlimited transactions to support your cash flow needs.
• Seamless integration with your existing business checking accounts.
• Support the local economy since deposits are kept within our community.
Bank of Luxemburg Merchant Services are used by successful businesses throughout the area. Whether you are just starting out, or are already established in the marketplace, we offer services to fit your needs.
Credit/Debit Card Processing – Offer your customers payment flexibility by accepting major card types including Visa® and MasterCard®. Also, give your customers the option of paying with their ATM/debit cards by accepting PIN-based debit transactions.
Electronic Gift Cards – Increase revenue, attract new customers and build customer loyalty with an electronic gift card program. Track card inventory electronically to prevent fraud.
ATMs Increase Traffic – Cash disbursement machines are a source of revenue for you and convenient for your customers.
Complement your account with one of the following great services...
• Debit MasterCard®
• 24-Hour Banker
• Automatic Funds Transfer
• Internet Banking
• Free eStatements
*Remote Deposit Capture
* Online Account Management
* Electronic Payment Services