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New Special CD Rates Available!
Click here for current Rates, yields, and details.
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Cash Management Services
ColomboBank offers a broad array of Cash Management services that are designed to help manage your business funds more effectively and
remain competitive in today's complex business environment. We understand that as a businessperson, you need to focus on your core business.
Let us help you to determine which products best suit your needs.
Escrow Manager
Great for title companies, realtors, landlords and lawyers; reducing administrative time and expenses.
Manage unlimited Master/ Sub-Accounts.
Generates all 1099 forms for Master/ Sub-Accounts.
Monthly Statements for both the Master and Sub-Accounts.
Zero Balance Account (ZBA)
A zero balance account (ZBA) is a checking account that is designed to maintain a zero balance, even as checks, debit and ACH transactions
post to the account. The ZBA is funded by your primary checking account that would generally receive all your deposits. The primary checking
account would automatically disburse funds to your ZBA account as checks or debits post to the account. More than one ZBA can be linked to a
primary checking account. The ZBA gives you the best of both worlds, allows you to keep separate accounts for separate purposes, yet maintain
control by funding them through a single centralized account.
Repurchase Account
With the ColomboBank sweep service, excess balances in your checking account are automatically invested in a secured account for you.
You will earn a competitive interest rate while keeping cash liquid for your daily working capital needs. Each day, if your investable
balance is above or below your target balance, the Bank will invest or disinvest funds for you. Funds invested are not insured by the FDIC.
- A $50,000 minimum balance needed for daily investment.
Courier Services
To make banking more convenient, ColomboBank offers courier service to our commercial customers for a nominal fee which can be fed
through account analysis. For more information, please contact a ColomboBank representative.
Merchant Payment Processing
ColomboBank's merchant payment processing service enables your business to accept all major credit and debit cards from your customers.
We provide you with a solution to meet your specific business needs. Our program also offers competitive rates and excellent customer support.
ACH Services
- Payroll
Unlike paper checks, direct deposit electronically deposits the paychecks of your employees into their individual accounts at any
financial institution each payday. Direct Deposit eliminates the burden of writing, distributing and reconciling paper payroll checks,
lowers the risk of check fraud by reducing the number of checks written and adds an added benefit to your employees by eliminating their
need to cash or deposit a payroll check.
- Cash Concentration Disbursements
CCD allows companies to concentrate money from multiple non-ColomboBank deposit accounts in to a deposit account at ColomboBank. At the
end of the day, if cash has accumulated in the various accounts at other financial institutions, simply send a request to ColomboBank
and we will initiate an electronic ACH transfer to move the funds to your ColomboBank deposit account. We can also initiate a transfer
to move funds to a non-ColomboBank account as needed as well.
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