When it comes to business banking solutions, the term “Cash Management” involves the day-to-day administration of your cash flow. Thanks to the capabilities of digital banking services, that can take place in a variety of different ways. Taking advantage of services available at your local bank can help you maximize liquidity while minimizing your costs - all while making banking more convenient. Additionally, improving your cash management can lead to sustainable financial stability. Local banking, combined with the latest cash management technology and tools, allows our team to focus on our customers’ finances, so you can focus on running your business.

What Is Cash Management?

“I like to say that cash management is kind of a fancy word for the products and services that go along with business accounts. We help our business customers with sticky cash flow issues so they can focus on running their companies,” says Katie Douglas, VP, Director of Cash Management Sales.

Comprehensive Cash Management Services for Your Business

The cash management team at Queensborough has worked hard to make the right products available to businesses throughout the bank’s service areas. Needless to say, equal energy and focus has gone into building a strong, capable team dedicated to delivering an extraordinary customer experience you can only get at a local bank.

“Business customers call us 24/7, and they know we'll answer the phone and take care of their needs. We want to be here for them, whether that’s to talk about a new venture or to troubleshoot an issue they may be having,” says Douglas.

The cash management team can help you choose products and services that streamline your operations. For example, the Cash Management team handles various deposit products, including:

Online wires: Secure, reliable channels to send and receive money electronically make Queensborough a top contender for businesses handling domestic and international transactions.

Merchant services: Businesses use this service to accept various payment methods from customers. It allows customers to handle credit cards, debit cards, mobile wallets, and other payment types.

Account maintenance: Managing and updating customers’ accounts is a core function of the CM department. It includes opening and closing accounts, changing account information, resolving issues, and providing statements and reports.

Automatic Clearing House (ACH) services: ACH services allow you to send and receive electronic payments securely. They include direct deposits, payroll, vendor payments, and tax payments. Use ACH services at Queensborough as a faster, more convenient alternative to check payments and wire transfers.

“With cash management, understanding the fees can be a challenge. From a customer perspective, this can be one of the largest hurdles they’ll face because it can affect their overall profit. As a local bank, we can sit down with customers and talk through the fees, so the customer doesn’t have to resort to guesswork,” says Douglas.

Top-Notch Customer Service to Support Your Business Growth and Success

Our Cash Management team works closely with Sales and Operations to ensure customers get the most out of our products and services. To show we truly care about our customers and their needs, we have:

• Built a strong team to handle online wires, merchant services, and account maintenance.

• Implemented a new online wire system for attorneys and other clients who need faster, more secure transfers.

• Provided pin pads and terminals that support contactless payments.

• Helped our customers understand the fees and charges involved in using the bank’s cash management tools.

• Expanded up our customer service team to offer comprehensive account support.

Working with your local community bank, like Queensborough, has many benefits. We take a holistic approach to your banking experience and focus on providing the personal attention you deserve. Since our cash management team isn’t driven by commissions, you can rest assured that we keep your interests top of mind with every decision we make. Contact us to see what our Cash Management experts can do for your business!