Cash Management Services

Colombo Bank 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 Colombo Bank 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.  
  
  Merchant Payment Processing  Colombo Bank'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-Colombo Bank deposit accounts in to a deposit account at Colombo Bank. At the end of the day, if cash has accumulated in the various accounts at other financial institutions, simply send a request to Colombo Bank and we will initiate an electronic ACH transfer to move the funds to your Colombo Bank deposit account. We can also initiate a transfer to move funds to a non-Colombo Bank account as needed as well.