Managing Funds

Business Online Banking

Manage your business’ online transactions by completing an agreement listing the companies that are authorized to debit from your account(s) OR you can choose to block all ACH transactions.

BAI – Balance Account Information

Reconcile your business account with a downloadable file, created for large companies with a lot of transactions.

Corporate-to-Corporate Payments/Financial EDI

Larger corporations frequently need to post accounting detail or remittance information along with their payment. When you receive a payment through the Automated Clearing House (ACH) that contains additional information this service can translate and deliver that information to you through secure email network. The transaction may contain additional information such as invoice number, payer, etc. By using the bank’s EDI system, you eliminate any technology investment and ensure compatibility with EDI formats and your customer’s systems.

Business Sweep Account

Sweep accounts are helpful when you occasionally have large amounts of excess cash. Even if your company’s cash flow tends to fluctuate unpredictably, you can keep your checking balance at a desired level and earn interest on all excess funds the day they occur. Our Business Sweep Account ties together a checking account and a repurchase agreement which pays you interest on your excess funds. The rate of interest earned is subject to change.  Repurchase agreements are not insured by the FDIC. However, your funds are collateralized by specific U.S. Government Agency Securities from the bank’s investment portfolio.

Zero Balance Accounts (ZBA)

Need multiple accounts? At First Mid, we provide the convenience of a Zero Balance Account that transfers assets from multiple sub-accounts into one central account for easier cash disbursement. These accounts can be tailored to suit your most complicated cash management needs.

 

To Learn more about Treasury/Cash Management Services at First Mid, email our Treasury Management Relationship specialists at treasurymanagement@firstmid.com or complete our online form to request more information.