Upgrade your business online banking package with this suite of additional services designed to help your business run more smoothly.
This program gives you 24-hour access to your accounts via online banking, plus a whole lot more. Get ACH origination capabilities, set up sweeps accounts, and more. You can even make tax payments electronically. It's all available to help your business succeed.
- Summary
- Online access to accounts and services
- Accessible from any web enabled computer
- Manage accounts when it's convenient to you
- Securely encrypted to protect your data
- Initiate and receive ACH transfers
- Make stop payments
- Generate payroll deposits
- Pay electronic federal tax payments (EFTP)
- Set up automatic sweeps
- Cash concentration services
- Cash Concentration & Disbursement
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If your business isn't near a branch or you have multiple locations, cash concentration and disbursement (CCD) could save you a lot of time and expense.
With CCD, you can deposit funds into an account at a bank near your business. You can then transfer funds to and from your Monson Savings Business Accounts as needed—all from the convenience of your office.
- Business Sweeps
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Set up a sweep account to maximize every dollar of your balance with automatic transfers. Here's how it works: set a target balance in your main account. Every time your balance is over that limit, we will automatically transfer the overage to an interest bearing account or to pay down a line of credit, as you direct us.
A business sweep account can help you earn interest on excess cash balances or save on loan interest expense while maintaining a compensating balance sufficient to eliminate or reduce monthly services charges. Collected balances are automatically transferred after the processing of each day's account activity.
Please note that after the initial application for a sweep account, we will need three months of statements to determine your target balance. This information is for analysis purposes only.
Collected balances in your Business Checking Account are automatically transferred after processing your account activity on a daily basis.
With Monson Savings, our business office is much more efficient, and we have saved an enormous amount of time.
— Stephen Edele, Academy Hill School
