Cash Management

At Needham Bank, we understand your cash management needs aren’t driven by the size of your business but by the complexity of your operation. That’s why we take the time to get to know your company’s unique cash management needs. We can build a solution that is efficient, secure and affordable. Our services are modular. We’ll recommend the best combination to help you maximize cash flow, save money and reduce the time you spend on your business’s finances.

Contact Us

To learn more about Cash Management services, contact Michael Tudino, VP Cash Management Sales & Client Services Manager at 781-474-5850 or email [email protected]

Peluso Family, Shawmut Communications, Peabody, MA

Benefits & Features

Cash Flow Management

Deposit and Short-Term Investment Accounts

These accounts are designed to help you improve your cash flow and manage your finances more effectively. Needham Bank offers Business Checking, Business Savings, and Business Money Market accounts, as well as Certificates of Deposit with a variety of rates and terms.

Zero Balance and Target Balance Sweep Accounts

With our Zero Balance Accounts, balances may be swept into or out of subsidiary accounts as needed. Our Target Balance Sweep Account is similar and automatically sweeps money, based on thresholds you set, to and from other accounts. This allows businesses to avoid balancing accounts daily as funds will be automatically moved as needed between all linked accounts.

Account Analysis

Account Analysis is the perfect complement for our customers who need Cash Management Services. We’ll help you align products and services that make sense for you. With our competitive earnings credit, you may lower or completely offset your cash management fees.

View our rates sheet for details

IntraFi Cash ServiceSM Sweep Account*

Access multi-million-dollar FDIC protection on funds placed into money market deposit accounts and earn interest at the same time through ICS®, the IntraFi Cash ServiceSM.

Collections/Receivables

Automated Clearing House (ACH) Origination

Automated Clearing House Origination allows you to move funds electronically through the ACH network. Businesses of any size can use this service to directly deposit or withdraw funds from their customers’ accounts at any financial institution.

Wholesale and Retail Lockbox

Lockbox Services allow you to have your incoming checks sent to a P.O. mailbox and then have a third party handle the processing on behalf of your business. Our Wholesale solution is intended for clients who want to get their money into the bank faster, reduce the time needed to process their receivables, and automate their receivables process. Retail lockboxes are intended for use by clients with high volume receivables with standardized, encoded payment coupons.

Merchant Services

Accept credit and debit cards securely and conveniently, with lower processing costs and improved efficiency through Merchant Services.

Remote Check Deposit

No time to get to the bank? Remote Check Deposit allows you to deposit checks from your business using a scanner or mobile device.

Disbursements/Payables

We offer Online Bill Payment, Wire Transfer Services (both domestic and foreign) and ACH transfers to facilitate payments to your suppliers, vendors, and creditors.

Wire Transfers

Wire transfers provide a fast, easy method to keep your financial operations running smoothly. Wire transfer services allow you to pay vendors or send money both domestically and internationally through the wire networks.

 

Account Reconciliation

Our Account Reconciliation service can be used along with our Positive Pay system to create quick printouts showing outstanding and cleared checks. The Account Reconciliation service reviews your issued check file and all cleared checks during a specified time frame, which then allows you to print a list of cleared and outstanding check items.

Fraud Prevention

Positive Pay

Our Positive Pay service is an easy way to add an extra layer of security to your account. Positive Pay matches information from each check against a list of checks authorized and issued by your company.

ACH Positive Pay

ACH Positive Pay helps you manage ACH debits and credits through filters and blocks. This fraud prevention program allows you to determine the electronic payments you have previously authorized to clear and the items you have not authorized are listed for further review.

 

 

Flexible User Profiles and Controls

This service allows you to give permissions to and restrict certain access by user and by account so you can control which employees.

 

Direct Connect for Quicken and Quickbooks®

Direct Connect for Quicken and Quickbooks®

We offer Direct Connect for Quicken® and QuickBooks® so you can import information directly from your business’s online banking history. This service is great for businesses that like to use external systems for account reconcilement.

 

 

 

 

 

Serving Our Clients

The Regal Press, Inc.

“The thing about a community bank is that they take a personal interest.” - Bill Duffey, Founder

Learn more about The Regal Press, Inc.

FAQs

Can I look at all of my transactions at any time?

Yes. With NB Online, NB Mobile, and NB Business Online, and NB Business Mobile you have access to your account information 24 hours a day, 7 days a week.

Knowledge Center

Business Financing Tips for Women Entrepreneurs

Being a woman in business has its rewards and challenges. Explore these helpful business financing tips for women entrepreneurs in MA from Needham Bank.

Learn more about Business Financing Tips for Women Entrepreneurs

Take full control over every aspect of your commercial finances.

Contact Michael Tudino

*Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC.