Rushing to make your deposits is a thing of the past -- embrace the future with our Remote Deposit Service.
Now you can deposit funds electronically from your office with our secure software and check scanner. Don't lose valuable time running your checks to the bank every day when you should be concentrating on running your business.
These electronic items can then be delivered to other financial institutions via an approved file format.
Simplify your routine. Forgo the daily time, risk and expense of sending an employee off-site or paying for courier pick-up.
- Easy to use
- Totally secure
- Improve cash flow
- Save time
- Reduce cost
- Get faster access to funds
- Fewer NSFs
How does Remote Deposit work?
Depositing your checks remotely is largely made possible by new "Check 21" legislation recently signed into the law. Check 21 gives us the opportunity to replace labor-intensive, paper-based check processes with quicker, safer, image-based handling and clearing services. The result will be faster deposits, more efficient collections, and tremendous convenience for you and your business.
Is it right for me?
Do any of the following apply to your business?
- You receive check payments and deposit them frequently
- You receive relatively little cash and coin payments
- Your business is not close to a Citizens Bank Minnesota branch
- You have another business, store or division that is not close to a branch
- If you answered "yes" to any of these, then we would like to talk to you about Remote Deposit.
Sample Monthly Cost Analysis
- Employee time: $180*
- Mileage: $ 56**
- TOTAL $236
- With Remote Deposit, you can significantly reduce these costs.
* $9 for employee time x 20 deposits per month
** $.56 / mile x 5 miles/deposit x 20 deposits/month
Merchant Card Services
Not every customer carries cash. If you want to increase the number of transactions you do, you need to accept credit and debit cards. We can help!
The capability to accept credit card payment is a necessity for successful business growth. Citizens Bank Minnesota is committed to providing industry-advanced solutions through our partnership with First Data.
- Process all major credit card purchases
- Attract a broader customer base
- Receive up-front payment for services and merchandise, which improves cash flow
- Reduce bad checks written to your business
- Check verification
- Integrated software solutions, fraud prevention and monitoring, and wireless and Internet-processing technology are also available for your business.
Positive Pay is an anti-fraud service. It protects companies against altered checks and counterfeit check fraud. With this service, businesses submit an electronic file to the bank detailing the checks they issue. As each check is presented for payment, the Positive Pay system electronically compares it to the information in their file. Any discrepancies are flagged and reported through our online cash management system, where they can see an image of the check and make an online "pay/no pay" decision.
ACH Block/Filter—Protect your account from electronic fraud by utilizing ACH Block/Filters. This service provides an essential added layer of security towards safeguarding your assets by automatically blocking or filtering out unauthorized ACH transactions. You can either block all incoming debits with ACH blocks, or designate a list of authorized debits/credits with filters. If the ACH Originator is not on the authorized list you provide, we will return unwarranted transactions.
Other Business Services
Your business is more than just a checking account, a loan, or a credit card to us -- it's a relationship. Citizens Bank Minnesota provides businesses both small and large with solutions to their financial needs and concerns by offering a full array of products tailored to meet your unique requirements. Other services that we offer are:
Safe Deposit Boxes
Protect your valuables from theft, fire, flood, and any other disaster by putting them in one of our safe deposit boxes, far out of harm's way.
When you need to move funds fast, there's no faster or safer way than to transfer them electronically.
Never rush to the bank to make a deposit again. If you arrive after business hours, drop your deposit into our Night Depository, and we'll process it the next business day.
We offer official notary service to make your important documents official.
Move funds from your checking account to anywhere by writing an official check.
Make your change more manageable with rolled coins.
Bank Statement Reconciling
With this helpful service, we can help you make sure every transaction is accounted for.
Series EE and Series I Bond Services
Investing in government-backed savings bonds is another way to get a good return on your investment.
For more information about all of the business services available to our customers, please contact us online or call one of our business bankers at (507) 354-3165 or toll free at (800) 549-0194. We look forward to hearing from you!