Treasury Management Group FAQ

Cash Management Services

ACH and Wire Origination
ACH transactions are one or two day credits or debits originated for payments such as Payroll Direct Deposit, vendor payments, federal tax payments or child support payments.

Cash Management Online Banking
Because we know how important it is to be able to access your business accounts at anytime and anywhere, OmniAmerican Bank offers trouble-free Cash Management Online Banking. This service allows you to manage your account by choosing features that suit your business including balance alerts, customized reports and online images.

Wire Transfer Service
Wire Transfer Services are for customers seeking to expedite payment for services or payments due. Transfers are done electronically and initiated same day. This service allows you to manage your domestic and international payments through the Cash Management system.

Commercial Bill Pay
Commercial Bill Pay offers the ability to attach relevant invoice information to automate the accounts payable process. It is ideally suited for business users to define payees and schedule single and recurring payments. Dual authorization capability is available to provide added security.

Balance Reporting
Balance Reporting provides current day and prior day debit and credit activity.

Account Reconciliation
This service allows you to have partial or full reconciliation of debits, credits or both. “Check Only Reconciliation” is the most popular. Reports are available in both MS Excel and BAI2 for easy importing and exporting capabilities.

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Lockbox

A lockbox is a structured service whereby OmniAmerican collects your accounts receivable payments at our main postal facility and then processes them. You are sent a paper backup or electronic copy of the remittance documents for your records. A lockbox can offer sophisticated reporting options to automate the posting process.

If your business receives checks through the mail, your business may be an ideal candidate for this service.

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Sweep Accounts

Overnight sweep accounts are excellent for commercial customers who wish to utilize excess cash for investment purposes. OmniAmerican Bank enables you to maximize your excess funds by allowing them to remain liquid and earn a competitive rate of return.

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Zero Balance Accounts (ZBA) and Target Balance Accounts (TBA)

Zero Balance Accounts are accounts that maintain a zero balance and all excess funds are swept to a lead account. When this account needs funds, money is then directed back to cover incoming debits. This is suitable for functions such as payroll, accounts payable and accounts receivable.

Target Balance Accounts work the same way except a specified balance is maintained in the account. This is more typical of an operating account that is the lead in a relationship of accounts. Excess funds typically go to an investment account or are used to pay down on a line of credit. The target balance is usually calculated based on a required balance to offset account charges.

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Payroll Card Solutions

Payroll Cards are a type of debit card which allow non-banked consumers to have access to direct deposit capability without having to open a checking account. Payroll cards are offered in PIN (Personal Identification Number) based and signature based versions, allowing for optimal flexibility in client needs.

The advantages of payroll cards include no check writing, which reduces exposure to fraud for the employer and no checks to reconcile because one debit is made to cover the credits to all of the cards. Payroll cards are very cost-effective because of reduced check stock and less time invested reconciling checks.

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Controlled Disbursement

Controlled Disbursement is a Treasury service that provides advance notice of check inclearing allowing the customer the ability to manage cash needs on a daily basis. This allows you to maximize the use of all of your funds, reduce the risk of overdrafts and improve your daily forecast for cash flow.

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Positive Pay

Positive Pay is a fraud prevention service which helps protect your accounts from check fraud. There are two types of Positive Pay: standard and reverse.

Positive Pay requires you to send a manual entry or file upload of written checks to OmniAmerican Bank. Checks are “matched” and exceptions are then created for you to make a “pay or return” decision.

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Fed Electronic Data Interface (EDI) Reporting

Fed EDI is a Treasury service which provides addenda record information on incoming ACH credits and debits. This is ideal for companies which are paid by ACH where multiple invoices are included in one payment, for companies who receive credit card settlements for multiple merchant numbers in one account or for companies who need detailed information converted into a NACHA format so it can be uploaded to their system.

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Merchant Payment Services

OmniAmerican Bank Merchant Services makes it easy and convenient to process credit card transactions. This allows your business to have the versatility customers desire when making purchases. Web-based solutions, specialized software, a traditional stand alone terminal or touch tone processing are available, giving you the ability to select the most cost effective and convenient service for your business.

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Remote Deposit Capture

A secure and convenient way to make deposits and eliminate daily trips to the bank. Remote Deposit Capture allows you to deposit your paper checks electronically by scanning them from your office or store. You then transmit your deposit data securely to OmniAmerican Bank for same-day posting to your account. Make your deposits when it is convenient for you and expedite the collection of funds.

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Certificate of Deposit Account Registry Service (CDARS)

OmniAmerican offers additional deposit insurance protection through the Certificate of Deposit Account Registry Service (CDARS). CDARS^® is the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement with OmniAmerican Bank, earn one interest rate, and receive one regular statement. It's that easy.

CDARS is the perfect solution for many depositors — from non-profits and public funds to businesses, advisors (including trustees, CPAs, financial planners and lawyers) and individuals, as well as socially-motivated investors.

For more information about how CDARS works, please click on the links posted below:

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ABA/Routing # 311981533