Cash Management Services:
Simplifying Money Management.
Trustmark's cash management products and services offer clients an improved bottom line by helping manage cash requirements within your company. Coupled with options to make the best use of your funds, we provide an effective means of managing your financial requirements. Solutions may be as simple as balance reporting or as complex as retail lockbox. Whatever the need, Trustmark can help find the right product to fit each organization.
TrustNetWeb Internet-Based System
With TrustNetWeb, business customers are able to view account balances and activity through the Internet. In addition to viewing accounts, clients can print bank statements, view check images, transfer funds among accounts, initiate stop payment orders, pay company employees or vendors, and re-order checks or deposit tickets. (Certain transfers are subject to regulatory limitations.)
Faxess Balance Reporting
The same balance and transaction information received from TrustNet is also available through FAXESS. Daily, Trustmark will send balance and/or detail transaction reports via facsimile to your office. These reports can be customized to meet your particular needs.
Benefits Include:
- Time saved obtaining balances and transaction information
- Accurate information for better decisions
- Better control over funds
Wholesale Lockbox
For our corporate customers who need to collect corporate-to-corporate payments, Trustmark offers wholesale lockbox service. Our standard service includes maintaining a post office box on your behalf, daily mail pick-ups, same day deposits, and mail notification of remittances. Other services are available to fit your individual needs. Let us know what these needs are and we'll present a solution.
Benefits Include:
- More timely deposits creating larger available balances
- Reduced labor cost by shifting work load to the bank
- Reduced credit exposure by expediting collections
- Better internal audit control because of separation of bookkeeping and deposit functions
Retail Lockbox
For our customers who have large volumes of small dollar consumer payments, Trustmark offers remittance process through our retail lockbox services. Our standard service includes maintaining a post office box on your behalf, daily mail pick-ups, same day deposits and data transmission of remittances.
Benefits Include:
- More timely deposits creating larger available balance
- Labor cost reduction through automated capture of remittance information
- Automated update to customer records through direct data transmission
- Better internal audit control because of separation of bookkeeping and deposit functions
Funds Management - Line Of Credit
Customers may choose Funds Management to help reduce their borrowing costs. Trustmark will manage your checking account(s) as well as your line of credit to insure that funds are in the right place at the right time.
Benefits Include:
- Lower borrowing costs realized by minimizing outstanding loan balances
- Time saved by eliminating the forecasting of daily clearings
- Elimination of overdrafts caused by miscalculations
Overnight Repurchase Agreement Sweep Account
Through a Repurchase Agreement, securities are purchased from Trustmark under an obligation that Trustmark will "Repurchase" those securities on a future date. Trustmark's Repo Sweep account service provides for management of investable funds through the corporate checking account. After all credits and debits post each day, an automatic transfer will take place between the company's checking account and the company's repurchase account, facilitating full usuage of excess funds.
Benefits Include:
- Increased earnings through improved allocation of funds
- Automated investing resulting in reduced employee expense
- Security of funds
- A higher rate than conventional bank accounts
Mutual Fund Sweep Account
One of our most popular cash management products is our mutual fund sweep account. Like the Repo Sweep service, the Mutual Fund Sweep works to maintain a pre-determined target balance (which may be zero) in a corporate checking account. Daily, or as needed, funds move between the checking and an investment account automatically.
Benefits Include:
- Increased earnings through improved allocation of funds
- Automated investing resulting in reduced employee expense
- Higher net earnings over conventional investment accounts
Direct Deposit of Employee Pay
Through a number of solutions, Trustmark can help employers deliver employees' net pay to their financial institution the morning of payday. This is accomplished by delivering a file to Trustmark prior to payday for further distribution through the ACH system.
Benefits Include:
- Reduced cost for check stock and check storage
- Increased security for the company and its employees
- Improved employee reations
- Eliminates time lost on payday due to employees going to the bank to cash checks
- Time saved on account reconcilement
- No lost or stolen checks
Electronic Bill Payment
Many businesses, large and small, find the ACH to be the most efficient way to collect their receivables, especially recurring payments. Through a number of solutions, Trustmark serves as the originating financial institution of ACH transactions for a large number of organizations. Electronic Bill Payment lets you offer to your customers the convenience of paying bills automatically. Upon receipt of payment information, your customers are charged, with corresponding credit then given to your account.
Benefits Include:
- Better control over the collection process
- Reduced cost in collecting monthly receivables
- Improved customer relations by making bill payment easier
Cash Concentration
Companies with remote locations find the ACH system to be the best system for concentrating funds to their main account at Trustmark. Funds can be moved through the ACH to Trustmark where they can be used for purposes such as disbursements, payroll, or investing.
Benefits Include:
- Enhanced cash flow
- Better availability of funds (one-day collection)
- Total control over funds
- Reduced collection costs
Electronic Data Interchange (EDI) Services
With the passage of EFT99 and greater use of expedited payments, many companies, large and small, now need to send or receive EDI transactions through the Automated Clearing House (ACH). With no way to interpret this information, much frustration can occur when attempting to post these transactions to your accounting system. Trustmark's EDI service can resolve this dilemma by delivering information to you or your trading partners via Internet, facsimile or mail.
Benefits Include:
- Time saved in posting receivables information and reconciling
- Increased accuracy in A/R postings
- Reduced paperwork which speeds up posting process
- Reduced credit risk by quicker receipt and posting
Account Reconciliation: Mainframe-Based
To the larger customers with mainframe reconciliation capabilities, we offer both partial and full account reconciliation. At Trustmark, partial reconciliation is a cleared transaction file delivered via magnetic tape, diskette or transmission. With full reconciliation, customers deliver to us a file containing checks issued or deposits made. Trustmark will then match your file to the posted items file in our system, with subsequent reports delivered to the customer.
Benefits Include:
- Reduced time spend on recon, thus reducing data processing expenses
- Paid, outstanding and exception reports
- Increased efficiency and reduced errors
Tax Payment Service
Through Trustmark's electronic tax depositing service, companies can make tax deposits by TouchTone® telephone or personal computer. This service helps facilitate compliance with government mandates and/or automates what you are currently doing with the paper-intensive, manual depositing system.
Benefits Include:
- Customer initiation of tax deposits through your local bank
- Local support for system problems
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