Insured Cash Sweep (ICS)
& Lockbox Services
You deserve peace of mind!
Owning a business should be your top priority and where you bank should be your easiest decision. Let us help you manager your large deposits with FDIC insurance, and your lockbox services, so you can focus on the success of your business!
Insured Cash Sweep (ICS)
Making large deposits just got a whole lot easier. Forget the days of transfering funds to different banks so you could keep FDIC insurance.
With an Insured Cash Sweep Savings account from FSB, you don’t have to worry about not having adequate FDIC insurance on your deposits. Best of all, you don’t have to work with several banks to receive the FDIC coverage you desire. That’s because all of your funds are right where you want them – protected with FDIC insurance along with the ability to access your funds anytime you need. Welcome to peace-of-mind!
- Work directly with FSB to access multimillion-dollar FDIC protection
- ICS has the capacity to collateralize any one client up to a limit of $100 million in deposits
- Sweep daily – also 6 program withdrawals per month
- Funds above the minimum balance requirement sweep automatically from Business Checking to ICS
- Funds sweep back from ICS to Business Checking to cover checks or withdrawals automatically
FSB offers customized retail and wholesale lockbox processing for the Bank’s business, not-for-profit, and municipal customers. We’ll collect mail from a New Hampshire USPS Post Office Box, process the remittances according to your instructions, process the deposits, furnish daily reports containing deposit information, and update your web site with the latest images. We’ll work with you to ensure your payments are processed quickly and efficiently.
- Your valuable information and checks are processed locally from a dedicated New Hampshire USPS Post Office Box.
- Responsive, attentive customer service.
- Experienced, talented team of lockbox professionals.
- High levels of security with encrypted email, security cameras, and a disaster recovery plan with a hot site location.
- “State-of-the-art” lockbox processing equipment.
- Superior industry efficiency rate.
- Sophisticated reporting customized to your needs.
- Save money by outsourcing accounts receivable, freeing up staff time, and increasing business cash flow.
- Save time, as well as potential cost savings, by outsourcing your accounts receivable process, deposit reporting, exception processing, and credit research.
- Maximize efficiency with same-day, web-based customer access to all payment data and images.
- Speedy access to critical information from paper receivables with reports customized to your specifications.
Is As Easy As 1.2.3