Please tell me more about Cash Management Solutions on Personal Accounts.
Sterling National Bank’s Cash Management Solutions are designed to satisfy your everyday business banking needs as well as offer you advanced cash management tools that can increase your efficiency and take your business to the next level. Our Cash Management Consultants tailor banking solutions to best suit the unique challenges of your business.
For additional information on any of our Cash Management solutions, please contact the Financial Center nearest you or contact us electronically today.
Businesses rely on our Cash Management Receivable Solutions to streamline the collection of receivables and quickly convert them to cash.
Sterling National Bank's Lockbox Solution is a comprehensive, flexible lock box service designed to help businesses with the collection, deposit and record-keeping of payments from their residents, tenants or clients. Unlike most bank Lockbox programs, Sterling National Bank customizes its Lockbox service to meet your needs, so that you do not have to change any of your operating methods. In addition to traditional white paper mail, our Lockbox Solutions also leverages more technology savvy electronic channels including remote lockbox, electronic payment consolidation and processing and the ability to accept credit cards and ACH payments.
With Sterling National Bank's Remote Check Deposit service, business customers can deposit checks into their Sterling National Bank accounts without ever leaving their office. This convenient new service allows you to make deposits Monday thru Friday until 6pm without having to travel to the bank or depend on a messenger.
ACH (Automated Clearing House)
Collect and concentrate cash between accounts across banks anywhere in the country. ACH allows you to turn your receivables into working cash quickly, accurately and predictably, while lowering collection costs.
Your business can receive funds quickly and safely from domestic or international sources (in U.S. dollars) by way of wire transfer into your Sterling National Bank account. With Sterling National Bank, you can be sure that the transaction will be completed, validated, and recorded accurately and on time. Clients will receive acknowledgement of all incoming wires by mail, fax, or email.
Merchant Card Processing Services
Sterling National Bank has partnered with Elavon® to deliver the industry’s leading merchant processing solutions. By combining our banking expertise with Elavon’s premier payment processing network, you can enjoy a one-stop solution for all of your banking and payment processing needs with the technology to process payments at your location either PC or terminal based, over the internet, or on the road (mobile). In addition, with Merchant Services, you'll be able to process Gift Cards, Checks or E-checks, Debit Cards, and Purchasing or Corporate Cards in the currency of over 90 countries. Already a Sterling National Bank Merchant Service customer? Access monthly statements or to register for online account access.
Businesses count on our Cash Management, Management Solutions to help them stay on top of their daily financial position and make the right decisions.
With Sterling National Bank’s online banking, businesses can use the Internet to conduct their business banking from the convenience of their office or home. Using secure access codes, business customers can easily logon to their accounts, e-Business provides for basic online access or e-Treasury for more sophisticated banking needs, both allow users to check balances, transfer funds, make loan payments, print account reports, pay loans & taxes, originate ACH transactions or wire transfers. For more convenience, e-Statements allow you to receive your statements sooner and more conveniently, simply logon and view your statements and all check images. Use Mobile Banking from a tablet or smartphone to enjoy the same benefits or our online banking solutions in addition to having the ability to make mobile check deposits.
Our Balance Alerts service is a free service, designed to keep you informed of key activities on your business account(s). Sign up for Balance Alerts through our online banking systems and receive timely electronic notifications alerting you to information you need to manage your finances. You can create alerts for when your account reaches or falls to a particular threshold or your account becomes overdrawn. We also notify you when an electronic deposit hits your account. Our Balance Alerts service provides an extra layer of protection to help you better manage your finances.
Easy Access Telephone Banking
Sterling National Bank clients have multiple convenient telephone numbers to call 24 hours a day, seven days a week to access their accounts. This easy-to-follow automated telephone system allows customers to enroll and obtain accurate account information from anywhere, anytime. Using any telephone you'll be able to check balances, verify checks paid and withdrawals, verify deposits, transfer funds, and make loan payments. For immediate information on your accounts, call (914) 961-8222, (212) 400-6030, (718) 730-9187, (203) 349-8770, or (845) 521-7015 from a touch-tone phone and select from the menu options provided.
To help protect you against fraud, Sterling provides our business customers with our business online banking Positive Pay solution. Positive Pay is an automated fraud detection tool 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 your business. All three components of the check must match exactly or it will not pay. More advanced modules also matches aganist Payees of the check. Positive Pay requires your business to upload a file of issued checks to the bank's business online banking platform each day checks are written. When those issued checks are presented for payment at the bank, they are compared electronically against the list of transmitted checks. The check-issue file sent to the bank contains the check number, account number, issue date, dollar amount, and payee name. When a check is presented that does not have a "match" in the file, it becomes an "exception item". The customer (maker) then views the check online and decides to pay or return the check.
Businesses leverage our Cash Management Payable Solutions to maximize cash flow by efficiently managing their payables.
Automated Clearing House (ACH)
Through Sterling National Bank’s ACH processing service, business customers can electronically make payments for expenses, such as payroll, insurance premiums and payments to vendors as well as recurring expenses or leasing fees through this efficient and cost-effective channel.
Disburse same-day funds instantly and safely to accounts in the United States or internationally through your branch or electronic banking. With Sterling National Bank, you can be sure that the transaction will be completed, validated and recorded accurately and on time. For proof of your disbursement, customers will receive an acknowledgement of all outgoing wires by mail, fax or email. All outgoing wires must be fully-funded.
Business Online Bill Payment
Coupled with our online banking services, electronic bill pay will help you pay and track bills, all from the comfort of your home or office. Designed to save you time and money, bill pay allows 24 hour access to pay bill via the internet. It is safe and secure. And best of all it is much more convenient than paying bills by mail.
To sign up for Business Banking or e-treasury and Business Online Bill Payment, please visit your local financial center or call us at (914) 768-6900.
Debit Business MasterCard®
Our Debit Business MasterCard functions as an ATM card and debit card. You can use your card for ATM transactions, such as withdrawing cash or transferring funds at any ATM, with the added benefit of being able to use your card to make everyday purchases wherever MasterCard is accepted.
Unlike a credit card, the debit card allows you to use your own money. Purchases are deducted directly from your Sterling National Bank checking account and are included in your monthly statement.
A debit card also frees you from having to carry cash or a checkbook and saves you from having to show identification or give out personal information when you shop. Because MasterCard is widely accepted you can use your business debit card to purchase office supplies, pay vendors, and business entertainment at restaurants and theaters, as well as for business travel, including airlines and hotels worldwide.
If you would like an application for a Debit Business MasterCard or would like additional information about the card, please contact your nearest branch or call our Electronic Banking Department at (914) 768-6900.
To report lost or stolen ATM or debit cards, please call 1-800-472-3272.
Combine your business payment solutions into a powerful, single card platform with the power of a Commercial Credi Card. Manage travel and entertainment, procurement and fleet expenses and streamline your reporting with every purchase your company makes.
Direct Deposit for Payroll
Sterling National Bank makes it easy for businesses to offer Direct Deposit of their employees’ payroll through ACH. It is a welcome benefit for both employee and employer. Our bankers will help set up the process and roll it out to your employees.