Cash Management

Let us lend our expertise to help you manage your money. Build for the future with business cash management services you can bank on.

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Benefits & Features

Let us take the time to get to know your company so we can help you figure out the best way to improve your cash flow and manage your finances:

Deposit and Short-Term Investment Accounts

These accounts are designed to help you improve your cash flow and manage your finances more effectively. Needham Bank offers Business Checking, Business Savings, and Business Money Market accounts, as well as Certificates of Deposit with a variety of rates and terms.

Zero Balance and Target Balance Sweep Accounts

With our Zero Balance Accounts, balances may be swept into or out of subsidiary accounts as needed.

Our Target Balance Sweep Account is similar and automatically sweeps money, based on thresholds you set, to and from other accounts. This allows businesses to avoid balancing accounts daily as funds will be automatically moved as needed between all linked accounts.

Account Analysis

Account Analysis is the perfect complement for our customers who need Cash Management Services. We’ll help you align products and services that make sense for you. With our competitive earnings credit, you may lower or completely offset your cash management fees.

Automated Clearing House (ACH) Origination

Automated Clearing House Origination allows you to move funds electronically through the ACH network. Businesses of any size can use this service to directly deposit or withdraw funds from their customers’ accounts at any financial institution.

Wholesale and Retail Lockbox

Lockbox Services allow you to have your incoming checks sent to a P.O. mailbox and then have a third party handle the processing on behalf of your business.

Our Wholesale solution is intended for clients who want to get their money into the bank faster, reduce the time needed to process their receivables, and automate their receivables process.

Retail lockboxes are intended for use by clients with high volume receivables with standardized, encoded payment coupons.

Merchant Services

Accept credit and debit cards securely and conveniently, with lower processing costs and improved efficiency through Merchant Services.

Remote Check Deposit

No time to get to the bank? Remote Check Deposit allows you to deposit checks from your business using a scanner or mobile device.

Rental Management

Streamline the opening of tenant security deposit accounts and automate your rent collection process with zDeposit and zRent.

We offer Online Bill Payment, Wire Transfer Services (both domestic and foreign) and ACH transfers to facilitate payments to your suppliers, vendors, and creditors.

Wire Transfers

Wire transfers provide a fast, easy method to keep your financial operations running smoothly. Wire transfer services allow you to pay vendors or send money both domestically and internationally through the wire networks.

Account Reconciliation

Our Account Reconciliation service can be used along with our Positive Pay system to create quick printouts showing outstanding and cleared checks. This service reviews your issued check file and all cleared checks during a specified time frame, which then allows you to print a list of cleared and outstanding check items.

Check Positive Pay

Our Check Positive Pay service is an easy way to add an extra layer of security to your account. This minimizes the risk from altered or fraudulent checks through a daily verification of checks presented for payment to a list of checks authorized and issued by your company.

ACH Positive Pay

ACH Positive Pay helps you manage ACH debits and credits through filters and blocks. This fraud prevention program allows you to determine the electronic payments you have previously authorized to clear and the items you have not authorized are listed for further review.

Flexible User Profiles and Controls

This service allows you to give permissions to and restrict certain access by user and by account so you can control which employees.

Business Resource Center

Knowledge is power. Learn everything you need to know about our products and services by checking out our helpful business banking video demos and user guides.

Serving Our Clients

Village Forge, Inc.

“Needham Bank was there for Village Forge when no one else was. Every employee I’ve interacted with has gone out of their way to assist me however they can, which isn’t what…”

Resources

Fraud has the ability to hurt small businesses in a big way. Small businesses are particularly vulnerable, making them more likely to be victims of business fraud than any other size company. Especially with the COVID-19...
We asked our Vice President of Cash Management, Michael Tudino, to answer the most common questions we hear about Cash Management to help you understand what it is and how it can help your business save...
Business Online Banking is a great solution for managing your business accounts. It allows you to view account history, include multiple entities within one online profile, transfer funds, pay your bills and invoices online, and download...

Frequently Asked Questions

Cash management is a business strategy designed to maximize cash flow, save money, and reduce the amount of time you spend on your business’s finances.

An example of cash management could be setting up automatic payments to avoid late fees. Another example could be using lockbox services to get money into your account faster and more safely.

Cash flow management is all about tracking money as it comes in and out of your business. Analyzing data related to how much your business spends and makes can help you balance and optimize your profits and expenses.

Managing cash flow efficiently can look different for every business, so the best tip we can give is to work with a trusted financial partner like Needham Bank to build a custom solution that will save your business time and money.

Accounts receivable is not the same as collections, but they are related! Accounts receivable is money owed to you, while collections is the process of recovering that money.

Yes. With NB Online, NB Mobile, and NB Business Online, and NB Business Mobile you have access to your account information 24 hours a day, 7 days a week.

Ready to take full control over your commercial finances?

Business Online and Mobile Banking Users: A new and improved digital banking experience is coming soon! Click here to learn more.