Cash Management
LSB's approach to Cash Management is simple. Provide technologically superior services and don't nickel and dime the customer. We provide the following and more:
Balance Information Reporting: Through your own computer, you can access your accounts at any time to check balances, verify transactions or do reconcilements. This easy access provides you with timely accuracy for forecasting and decision making, so you can easily monitor and control your cash position and potentially reduce borrowings.
ACH Origination: You can pay electronically through the Automated Clearing House (ACH). ACH is the easiest and least expensive tool for moving funds. All ACH transactions are required to be cleared by 9:00 a.m. the following day.
Check Imaging: You can see an image of checks presented on a prior day basis.
Funds Transfer: Funds may be transferred between Lincoln Savings Bank accounts anytime.
Stop Payment: A Stop payment order may be originated at any time.
Tax Payments: Using the Electronic Federal Tax Payment System (EFTPS), you can make payroll and estimated income tax deposits quickly and efficiently. LSB prefers to use the debit method. Ask your LSB Representative to get an information brochure on EFTPS.
Direct Deposit of Payroll: This service allows a company to quickly and efficiently transfer funds into an employee's checking account, no matter where they bank. This provides significant time and cost savings and eliminates the preparation and processing of checks. Direct deposit also strengthens your company's cash forecasting ability by minimizing the risk of lost, stolen or forged checks.
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