Cash 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

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.

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.

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®

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.