Zero
Balance/Target
Account
This account
lets you
concentrate all
your funds into
a single account
while benefiting
from the
flexibility of
multiple
disbursement
accounts for
accounting
purposes and
audit control.
You eliminate
forecasting and
funding
guesswork and
improve your
funds control
and
productivity.
A
Zero
Balance Account
concentrates
funds into a
Master Account
which is used to
fund
disbursement
accounts. One
entry is made at
the end of the
day to fund
disbursement
accounts such as
payroll,
accounts
payable,
employee benefit
payments, etc.
Subsidiary
accounts are
maintained at
zero (or target)
balance to
eliminate idle
funds.
A
Sweep
Account is
used to maintain
a target balance
in your
corporate
checking account
while earning
interest on
excess funds or
minimizing use
of your line of
credit. Excess
funds move into
an interest
bearing
overnight
repurchase
agreement or
used to pay down
your line of
credit. When
needed, the
funds move back
to your checking
account or a
draw is made on
your line of
credit.
With a
Commercial
Investment
Account,
your corporate
checking account
is linked to an
overnight
investment
account. A
target collected
balance is
established for
your checking
account and
excess funds are
automatically
invested in an
interest bearing
account.
Another sweep
account option
is to link a
Revolving Line
of Credit to
your corporate
checking
account. When
you need
additional
money, it
automatically
gets transferred
to your account.
Excess funds are
used to pay down
the line of
credit.
Positive Pay
This system
allows you to
identify and
return
fraudulent
checks paid
against your
checking account
on the same day
they are
received by
WoodTrust Bank. This is
accomplished by
comparing the
check serial
number and the
dollar amount of
each check
presented
against a file
of valid issue
items you
provide us.
VISA &
MasterCard
Merchant Credit
Card Processing
We can provide
your business
with full
authorization
and settlement
processing for
VISA and
MasterCard
transactions. We
are also able to
provide
authorization
for Discover,
American
Express, Diners
Club and Carte
Blanche
(customer
receives
separate
settlement
directly from
the vendor). We
offer store card
swipe merchant
terminals with
printer and also
support
touch-tone
capture for low
volume
merchants.
WoodTrust Bank also has a
PC-based product
for mail
order/phone
order/Internet
merchants. We
can also support
PIN pads for
merchants who
want to offer
PIN based
transactions at
point-of-sale.
VISA
Corporate Credit
Cards
We can issue
corporate credit
cards to your
business for use
by your
employees.
Wire Transfer
Services
Large dollar
transactions can
be transferred
anywhere in the
United States or
to almost any
foreign country.
The funds arrive
within a few
hours and are
immediately
available to the
recipient. We
use the Federal
Reserve Bank and
Bankers’ Bank to
execute these
wire
transactions.
Transfers can be
initiated by
telephone or in
person.
24-Hour
Depository
Make deposits to
your WoodTrust
Bank
account anytime
through our
24-Hour
Depository. You
receive a
locking bag with
two keys and
unlimited keys
to our
depository. Our
tellers open
your bag in the
morning under
dual control and
process your
deposit. A
receipt is
placed in your
bag and it can
be picked up
during regular
bank hours.
Coin &
Currency Service
You can obtain
coin and
currency for
your business
needs at any
WoodTrust Bank
office. Save
time by calling
ahead and your
order will be
ready for
pick-up when you
arrive.
Commercial
Lockbox Service
Accelerate the
collection of
your accounts
receivables by
having your
incoming cash
remittances sent
directly to a
lockbox at
WoodTrust Bank. We process
transactions on
a daily basis
and provide you
with a report
showing the
remitter,
payment amount
and other
pertinent
invoice
information. You
eliminate the
handling of
incoming checks
and the
preparation of
bank deposits –
plus accelerate
your funds
availability.
Anytime
Banking Center
Using a
touch-tone
telephone and
your Personal
Identification
Number (PIN),
you can access
your account
information
anytime from
anywhere by
calling (715)
422-0222 or
toll-free (888)
422-4613.
