Our Cash Management Services are designed to take the stress out of your daily operations with flexible services and the latest technology to ensure that you stay focused on growing your business.
Managing Payables
- Business Debit Cards
- Check Fraud Protection
- Batch ACH Payments
- More...
Managing Receivables
- Lockbox
- Remote Deposit
- Accept ACH Payments
- More...
Money Movement
- Sweep Service
- Automated Clearing House (ACH)
- Domestic Wire Service
- International Wires
- Foreign Drafts
Business Debit Cards
Accessibility, convenience and protection are essential for your business spending, so with your Boston Private Business Debit Card, you have the security and ease of round-the-clock debit card resources.
Our CardValet® mobile app is a great tool for our small business clients to control their Boston Private Debit Cards and to prevent fraudulent charges from being made.
Automated Clearing House
Through the Automated Clearing House, you can transfer funds between banks. Companies can use it to make payments to employees and others or to collect funds from customers.
Wire Service
Transfer funds into or out of your Boston Private accounts using our Funds Transfer Services, which provide a secure, effective and reliable method for you to transmit or receive payments with a same-day settlement. Read our Business Wire Guide for more details.
Foreign Exchange Services
International Wires
In addition to completing international transactions with U.S. dollars, you can send and receive a wide variety of foreign currencies by wire. Spot contracts are generally used to make these payments or convert foreign currency to U.S. dollars at current exchange rates. Settlement generally occurs two business days after the transaction date.
Foreign Drafts
Clients that need to make payments by check in a foreign currency may purchase foreign drafts. A foreign draft, similar to an official bank check, is drawn on a foreign bank in foreign currency.
Managing Receivables
Remote Deposit
Remote Deposit is a convenient remittance service for business clients that allows you to process checks in a quick, secure and efficient manner from your desktop, improving cash flow and helping to reduce costs.
Lockbox
For corporations that receive a moderate volume of high-dollar payments, the Lockbox offers a fast, automated remittance process that reduces float and reconcilement costs.
Managing Payables
Check Reconciliation
Reduce the amount of time you spend on manual account administration by automatically recording transactions and generating reports detailing account activity and current balances.
Positive Pay
You’ll gain important fraud protection through our automated check matching process.
What Cash Management solution is right for you?
Whether your considering switching from your existing institution or just beginning to scale your business to require additional services, you can get started with a free consultation with a Commercial Banker. They will walk you through the options that make sense for your business and offer guidance at every step of the process.
Our Thinking
The 2018 tax filing season is upon us and the IRS is once again open for business. This is the first year taxpayers will see the effects of the 2017 Tax Cuts and Jobs Act. In addition, on January 18, 2019, the IRS published final regulations and three related pieces of guidance on application of the pass-through tax break. In a nutshell, the regulations provide clarity on what type of businesses and investments qualify for the pass-through tax break.
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There are any number of payment systems out there, and using more than one can lead to administrative headaches. Rather than navigating so many platforms, stakeholders should consider switching to one option while also getting their vendors on board. Doing so should make the process easier for everyone involved, while also saving time and money.
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How to Keep Your Cash Management Processes Optimized—and Safe.
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Despite the fanfare around “Digital Transformation” across all industries, the real magic is how businesses are transforming by applying digital technology in a way that makes them more prepared to deliver on rising customer experience expectations.
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