Cash Concentration

Provides a convenient, cost effective method of electronically transferring excess funds from your local depository banks into your company's primary concentration account with FENB.

Your benefits:

An efficient, safe, and cost effective method of concentrating funds.

Reduction in idle balances maintained at local banks.

Increased control over remote location's deposit activity.

One-day availability of funds so you can anticipate your overall cash position for investment opportunities.

Daily reports detail deposit activity.

Customized reporting options are available.

Historical data.

System available for remote reporting 24 hours per day, 7 days per week.

Deposit Reporting/Cash Concentration operates as follows:

1) Daily, weekly or as often as you like, each collection location deposits funds into a local bank.

2) Each location manager will report their deposits.

3) Using Business Internet Banking you can create an electronic transaction to concentrate funds in your primary account. The corresponding credits and debits are electronically processed through the Automated Clearing House (ACH) and the transfer of funds is completed.