Cash Management
In business, time is money. And Independence Bank wants to make sure you don’t waste either – with Cash Management designed to help you reduce your workload while increasing your productivity. Helping you keep an eye on the details while giving you the freedom to deal with the big picture, our Cash Management services have you covered.
Online Banking
Information Services (Reporting Only)
- Access previous day account balances and transactions
- Transfer funds between Independence Bank accounts
- *Download to Quicken®, QuickBooks®, MS Money®
- View cleared check images
- Reorder checks
Cash Management (ACH Origination)
- Includes all features of information reporting
- Direct deposit of payroll
- Electronic federal tax payments (EFTPS)
- Cash concentration or disbursement
- Vendor payments
- Represented checks
- Bill payment
I-Deposit (Remote Deposit Capture)
Make your bank deposits from anywhere, anytime with our convenient Web-based remote deposit capture service.
- Reduce trips to the bank
- Eliminate costs related to transporting checks to the bank
- Track and manage deposit activity across multiple store locations
- Free single-document scanner available with some accounts
Download the I-Deposit Brochure
I-Box Online Receivables (Processing for Retail Billers)
Simplify online payment processing and gain faster access to your funds.
- Automated daily accounts receivables updates to your accounting system
- State-of-the-art online receivables processing
- No capital investment
- Easy-to-use, browser-based system
- Multiple levels of access and security
- Reduce your administrative time and expense
- Web-based reporting tools and transaction search capabilities
- Cost-effectively works for any size municipality
Sweep Accounts++
- Automatically invests excess collected balances each night in an overnight repurchase agreement
- Necessary funds are transferred to your FDIC-insured checking account the next day to cover checks
- Interest is posted daily to the sweep account
- Saves you time by reducing the time spent each day on investment decisions, increasing the return on cash balances and offering liquidity to cover checks while investing excess funds
++ Sweep account funds are invested in government securities and are not FDIC-insured; not a deposit or other obligation of or guaranteed by Independence Bank; subject to investment risk; including possible loss of principal invested.
Sweep to Line of Credit
- Excess collected balances are moved to a business line of credit each night reducing interest expense
- Funds are pulled from the line of credit to cover checks presented against the checking account, which decreases idle funds
Zero Balance Account
- Designed to be used either as a concentration or disbursement system
- Operates like a normal checking account
- After all the debits and credits have posted, a transfer is automatically generated to or from the concentration account bringing the account balance to zero
- This allows your company to segregate various disbursement functions such as payroll, while eliminating pre-funding of separate accounts
- This account eliminates overdrafts and over-funding, manual transfer of funds and allows control from one central account
*Independence Bank does not guarantee and is not responsible or liable for the failure of these products or services. Any warranties relating to these software products and services shall be provided exclusively by Microsoft Corporation and/or Intuit Inc. (not Independence Bank). Quicken® and QuickBooks® are registered trademarks of Intuit Inc.; MS Money® is a registered trademark of Microsoft Corporation; VISA® is a registered trademark of Visa, Inc., in the United States and other countries; MasterCard® is a registered trademark of MasterCard Worldwide and its subsidiaries in the United States; American Express® is a registered trademark of American Express Company; and Discover® Card is a registered trademark of Discover Bank, all used with permission.
