Online Information and Control
Cash Position Management
When making routine payments for trade or payroll activity, managing your working capital effectively and efficiently can be a challenge. SunTrust offers comprehensive payments solutions to help you integrate control and efficiencies into accounts payables processes and systems.
No matter what kind of payment you're making – check, cash, or electronic – SunTrust wants to help you strategically manage payments and reduce processing costs.
– Receive early, same-day reporting of all checks presented for payment. Armed with this crucial information, you'll know how much money to transfer to your disbursement account while keeping excess funds invested in other interest-bearing accounts or available to pay down debt. Same-day funding is accomplished through deposit, zero balance accounts, wire transfer, or internal account transfers.
– Timely reconciliation of your disbursement accounts helps you identify errors and minimize risk of loss due to fraud or theft. By automating your reconciliation process, you can save time, improve accuracy, and free your staff to focus on other core business functions. Depending on your check volume, you can choose between full or partial reconciliation.
Check Image Service
– Use check images to better monitor paid items. Access images through the Internet with
Online Treasury Manager
, our Web-based cash management service. Or, view and store images on CD-ROM.
Electronic Payment Solutions
As companies look for ways to minimize costs and improve efficiencies, electronic payments are now common practice. Consider these solutions to help streamline your own payables process.
Automated Clearing House (ACH) Services
– Initiating electronic payments through the ACH system reduces costs and saves time. Not only is it an effective solution for
, but also for expense reimbursements, stockholder distributions, federal and state tax payments, and paying vendors.
– When speed is essential, wire transfer facilitates the same-day transfer of funds. Initiate one-time or recurring domestic or international wire transfers online, over the phone, or at one of our many branches.
– For corporate procurement or travel and entertainment expenses, SunTrust offers comprehensive commercial
to help you manage, report on, and integrate these expenses into your accounts payable systems.
EDI Integrated Payables
– Electronic Data Interchange (EDI) is a useful tool for timely notification and automated processing of outgoing payments. SunTrust generates the payments according to your instructions and forwards the appropriate remittance data directly to your trading partners.
Processing payroll can be one of your most cumbersome payment activities. Using our electronic payroll solutions can help decrease the time required for your staff to prepare, distribute, and reconcile these routine payments. With direct deposit, you can deposit employee pay directly into their checking account without having to mail checks to local or remote employees.
Fraud Protection Solutions
With check fraud continuing to grow, you can't be too watchful of your accounts payable systems. SunTrust has the leading-edge tools and experienced product specialists to help protect your funds and your financial data while minimizing potential losses.
– Using your check issue file data, SunTrust identifies and flags suspicious or potentially fraudulent checks as they are presented for payment. You then determine which checks you want to pay or not pay. With Teller Access, SunTrust branches can also use your check issue data to help identify suspect items as they are presented for payment.
Controlled Payment Reconciliation
– With this bundled service, similar to Positive Pay, SunTrust performs a daily review of your accounts, provides disbursement funding information, and incorporates fraud control services. SunTrust identifies mismatched items based on your check issue file data; with almost 24 hours to review the mismatches, you can identify fraudulent checks and return them before they ever post to your account. Additionally, you can enhance your fraud protection with our Payee Name Verification option.
ACH Fraud Control
– To minimize the risk of unauthorized ACH transactions, this valuable tool lets you set specific control parameters on your accounts. You can determine which ACH transactions are allowed and which are rejected with such options as blocking all activity or allowing only authorized transactions.
For additional information:
Speak with a SunTrust representative at
secure email form
to request information.
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available to help you.
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