Business Online Banking Information Reporting

Online Cash Management / Business eBanking

Heritage Bank Online Cash Management allows business customers to access their business account information from virtually any computer with an internet connection. With Business eBanking, you can monitor your daily cash position and confidently make borrowing and investing decisions. Customized security levels protect access to data.

Available Features:

• Real time dashboard and information reporting
• Book transfers
• Stop payment requests
• ACH Origination: Payments and collection
• BizPay: Business Bill Pay
• Wire transfer initiation
• Online statements
• Quicken & QuickBooks Integration 
• Perform account reconciliation
• Admin Rights: Add/Remove users for your business
• Access tailored: Adjust what privileges employees are able to have within Business eBanking

Benefits:

• Convenient and quick access via the Internet
• Increased control of your cash
• Ability to create reports by exporting information into Accounting Software

Receivables

• Remote Deposit Capture:
  • Conveniently prepare and electronically deposit checks 24/7. With Remote Deposit Capture you can save time and improve your cash flow efficiency. 
    • 365 days of searchable deposit history.
    • Multiple detailed reports including deposit images
    • Downloadable reports and receipts
    • Single sign on access from Business eBanking
    • “Deposit Only” access available for  employees
    • Limits designed to fit your business
    • Lease or purchase options
• ACH Collections*
  • Initiate ACH collections through Business eBanking and expedite your funds collection process.
    • Easy to setup templates can be utilized for reoccurring collections
    • Access to upload your NACHA formatted file
    • Integrated security features 
    • Dual Control option provides a separation of duties to protect your business.
    • Search and print ACH history by effective or origination dates
• Cash Vault Services
  • Our Cash Vault Service allows you to save time and money by depositing your cash on site into a secure vault.  No servicing or verification required.  Your vault is picked up on a pre-determined schedule and maintained for you.  Your deposit is guaranteed from the time the deposit is made.
• Merchant Payment Processing
  • Heritage Bank can help you establish a new merchant services program or provide a cost-effective alternative to your present merchant processing solution. We offer a customized, high-performance program that allows you to accept credit and debit cards from your customers in addition to offering them other e-commerce payment solutions.
    • Features:
      • Traditional merchant point-of-sale, industry-specific
      • Monitor bank deposits and charge-backs online
      • Online access to transaction data and activity reports
    • Benefits:
      • Helps you serve customers quickly and accurately
      • Hands-on training available
      • Competitive discount rates

*Subject to application and credit approval

Payables

• ACH Payments, Including Payroll Direct Deposit*
  • ACH Payment Processing gives you expanded capabilities to set up, perform and track ACH transactions from the convenience of your own office. The easy to use templates are available for many transfer types, including payroll, tax payments, consumer debits and credits, disbursements and vendor payments. 
    • Easy to setup templates can be utilized for reoccurring collections
    • Access to upload your NACHA formatted file
    • Integrated security features 
    • Dual Control option provides a separation of duties to protect your business.
    • Search and print ACH history by effective or origination dates
• Wire Transfer Services
  • Online Wire Transfer from Heritage Bank allows you to move money quickly, safely and conveniently. You can transfer funds to any financial institution by initiating repetitive wire transfers via Business eBanking.
    • Available for domestic and international wires
• Commercial Credit Cards
  • Choosing the right business credit card is easier than ever. No matter which card you choose, you’ll enjoy important features like:
    • Expense management tools
    • No fee for additional employee cards
    • EMV smart chip technology for added security
    • Mobile payment capability for added convenience

*Subject to application and credit approval

Fraud Prevention Services

• Positive Pay
  • Heritage Bank is proud to prove Positive Pay, a fraud prevention service, for our Commercial Customers. Positive Pay allows Commercial Customers to submit a list of issued checks and our system will automatically verify those checks when presented for payment. It matches the account number, check number and dollar amount of each check presented. If the information on the check does not match the information on the file submitted by our customer, an exception notice is generated and the customer is notified to verify and/or take action.

This service is available to all Commercial Customers banking online through Business eBanking.

Liquidity Management

• • Investment Sweep
    • An Investment Sweep allows your business the ability to maintain liquidity while earning interest on daily operating cash without the manual transferring of funds.
      • This service is available with our Insured Cash Sweep Account available through the Promontory Network
  • Loan Sweep
    • Your Commercial Line of Credit will allow you to minimize interest expense on your loan or cover your daily payables.*
  • Zero Balance Account Sweep
    • With a Zero Balance Account (ZBA) from Heritage Bank, you can maintain a business checking account without unproductive excess cash balances. Each day, your ZBA is funded to cover all incoming debit transactions. After all transactions are posted, the account is reconciled with a lead account and is returned to a zero balance.
      • Features:
        • Automated process moves funds as needed
        • Detailed monthly statement summarizes activity
        • Eliminates excess balances
      • Benefits:
        • Saves administrative time and expense
        • Eliminates tracking of funding requirements
        • Eliminates overdrafts
        • Produces a clear audit trail
  • Repurchase Sweep
    • Business Repurchase Accounts allow companies to sweep free DDA balances (collected funds less reserves) into overnight repurchase agreements which are not FDIC insured. All funds over the target balance established will be invested. If the target balance is not met on a particular day, an investment will not be made for that day.
      • Features:
        • Armed with your cash position, you now have access to services to help you manage your payables, receivables, and concentrate your funds so you can make important borrowing and investment decisions
        • Automated process moves funds as needed
        • Detailed monthly statement summarizes activity
        • Eliminates excess balances
      • Benefits:
        • Saves administrative time and expense
        • Eliminates tracking of funding requirements
        • Eliminates overdrafts
        • Produces a clear audit trail

* Loan sweeps are subject to line availability and are subject to change based on maturity and loan conditions/covenants.

Specialized Treasury Accounts

CDARS®

CDARS is one of the safest and smartest tools for investors looking to protect deposits that exceed the standard FDIC insurance maximum of $250,000 while earning CD-level returns that may compare favorably to Treasury and money market mutual funds.

CDs placed through CDARS offer investors, including institutional investors, such as corporations, public funds, foundations, and endowments: 

• access to multi-million-dollar FDIC insurance;
• the ease of working through one trusted relationship, earning one rate per maturity, and receiving consolidated statements;
• the ability to forego ongoing collateral tracking;
• the power of daily compounding; and
• a finite maturity date (in contrast to auction-rate or some adjustable-rate securities).

Investing through CDARS can be a strong alternative to Treasuries and government money market mutual funds. Like Treasuries and government-backed money funds, FDIC insurance is backed by the full faith and credit of the U.S. government.  

Placement of funds through the CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before CDARS settlement for a deposit or after CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of CDARS satisfies those restrictions. 

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

ICS® the Insured Cash Sweep®

ICS®, the Insured Cash Sweep® service, is a smart, convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility. 

With the ICS service, you can:

• Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
• Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.
• Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.  
• Access funds. Make unlimited withdrawals using the ICS demand option or up to six program withdrawals per month using the ICS savings option. Funds can be placed using either or both ICS options to best match your cash management and liquidity needs. 

Bank Safe, Bank Smart®.

Placement of funds through the ICS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS settlement for a deposit or after ICS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS satisfies those restrictions. ICS; Insured Cash Sweep; and Bank Safe, Bank Smart are registered service marks of Promontory Interfinancial Network, LLC.