Cash Management

Automated Clearing House (ACH) Credit allows for a convenient way to process payroll via direct deposit, reimburse employee expenses, and pay vendor invoices.

Resource Online Banking is enabled to process Electronic Federal Tax Payments (EFTPS) so you can electronically pay your federal taxes.

ACH Debits allow for direct withdrawals by electronically debiting funds from other businesses or consumer accounts. You can collect one-time or reoccurring payments.

Take control of what is coming in and out of your account from external sources. ACH Block & Filter is an anti-fraud service that monitors ACH activity and allows authorized payments to process and block transactions not authorized. This product enables you to:

• Set dollar limits (both specific and ranges) by filtering merchants/vendors/customers that are trying to debit or credit your account through ACH;

• Completely block ACH debits and credits from hitting your accounts, including electronically converted checks.

Allows users to import National Automated Clearing House (NACHA) files for either ACH credit or ACH debit items.

When you need to send or receive money quickly, a wire transfer might be the right tool for the job. Online wire transfers are fast, reliable, and securely processed through multi-factor authentication. Resource Bank offers both Commercial and Consumer online wire transfer request services at a reduced cost. Learn More

• ACH Credit (payroll, reimbursements, etc.) files need to be entered and approved for processing two banking days prior to effective date.

• ACH Debit files need to be entered and approved for processing one banking day prior to effective date.

• Holidays are not considered a business day when scheduling your ACH files effective date.

• Always ensure you have sufficient lead time for your ACH file processing. An additional business day for file delivery lead time should be added when the holiday falls between the file send date and the effective date.

• There are some days that Resource Bank observes as holidays in addition to the Federal Reserve holidays. View Resource Bank holiday closures.

• How does it work?

• Cash Management services are a suite of online tools for commercial users, designed to efficiently process the collection of receivables, control disbursements or payments, reconcile accounts, provide balance information, and manage cash flow. Access to each service is assigned individually to authorized users.

• How do you keep my business’ data safe?

• Our Intrusion Detection system (IDS) identifies unauthorized access by monitoring patterns of activities presumed to be malicious. The system performs automated risk analysis and alerts. We also offer several fraud protection services that can be added to your business accounts.

  All Cash Management users are required to have multi-factor authentication on their business login. Users must utilize our security token dual-authentication feature to use at log in. The options available include a hard token or soft token (phone app).

  If you ever suspect suspicious activity, please contact the RB Cash Management Department at 985.801.0120 or send a secure mobile banking message.

• What tools can I use to monitor my account activity?

• We recommend setting up customizable Security Alerts. Alerts can be sent via text or email when a(n):

  • Online transaction approval is requested

  • Online transfer is processed for over a certain amount

  • External transfer is processed for over a certain amount

  • ACH batch is approved for over a certain amount

  • Wire transfer is approved for over a certain amount

  • Wire transfer beneficiary information is updated/created

  • ACH receiver information is updated/created

  • Access ID and Passcode changes

  • Security Q&A changes

  • Email, address, or telephone number change requests

• How quickly do batches take to process?

• Our batch processing cutoff time is 4:00 pm CST, Monday – Friday. During onboarding we will walk you through the batch process and when funds will be credited or debited from your account.

• What if I want to transfer my business accounts from another financial institution?

• Business Banking is a top priority for our institution. During onboarding you will work with your Account Officer and one of our Cash Management Specialists to help transition your accounts to our institution and answer any questions that you might have.

• What is meant by “auto-populated” batch information?

• You can create a template for wire transfers or copy a previous ACH batch.

  When creating a wire template, you have the option to create a template that will auto-populate sender & beneficiary information for future requests. This saves you time from re-entering information for frequently sent wires. You have the option to decided what fields can be edited on the template.

  For ACH Batches you can copy a previously sent batch to auto-populate account information. You have the option to edit any fields that you would like to adjust.

• How do approvals work?

• During the onboarding process we will discuss the process and options for establishing wire & batch approval privileges.

  The final step in creation of certain types of transactions (like ACH batches, EFTPS batches, and wire transfers) is to approve the transaction. The user that creates the transaction may be able to approve the transaction directly. If the transaction creator lacks approval privileges, the creator can request approval, which must be completed by a user with approval privileges.