This service is strictly for communication between the bank and the customer. Because this services enhances communication for both parties, e-mail is free of charge. Book transfers allow inter-bank transfers. Security can be set to give only certain employees authorization to move money between accounts and limitations can be set, as well. Daily limits on amounts to be transferred are also an option.
Wire transfers allow money to be wired directly to another bank.
They can be sent for credit to an account or for an individual to accept at the receiving sight with proper identification. Another feature of Corporate Cash Management is the ability to stop payment items, stop payment releases, and photocopies. Requests are followed up with a faxed approval form after verification has been completed, letting companies know when it is safe to reissue a check. Balance reporting allows viewing of account activity and balances daily. Account activity provides the type of transaction, check number if applicable, date of transaction, and amount.