Treasury Management
We seek ways to enhance your experience.
Magna Bank is pleased to offer a wide range of state-of-the-art treasury management products and services, all of which are designed to make the management of your company's cash as efficient as possible.
Magna Bank's treasury management products and services include the following:
Treasury Link — Our advanced online banking system is a useful tool in managing your banking. From information reporting, initiating wire transfers, ACH origination, positive pay processing, and more, we can meet your online banking needs. Let us help you determine what products are best for you and your company.
ACH Services — By using our ACH Origination services, you can streamline your payment processing and save time and money.
- Pay your employees electronically.
- Collect your receivables faster.
- Concentrate your funds from accounts at different financial institutions.
- Pay your state and federal taxes electronically.
- Easy reconcilement with less check writing.
Repurchase Sweep Account — Maximize your earnings potential by using this automated transfer service. Your excess cash is put into a Repurchase Agreement every night where your balance earns at a competitive rate.
Deposit Link — Deposit your checks without having to leave your office. Save valuable time and money by eliminating your daily trip to the bank.
Wholesale Lockbox Services — Accelerate the collection time on your receivables by allowing the bank to process your payments and deposit the funds directly to your account.
Recon Services — We have several options available to you to make your reconcilement process easier. They include:
- Positive Pay — This product is a great tool to help prevent fraud. You have a chance to review questionable checks before they post to your account.
- Full Recon — Reporting that compares checks that you have issued to checks that have paid during your statement cycle.
- Partial Recon — Provides information on checks paid and other debits that post to your account.
- Deposit Recon — Consolidate deposits from multiple locations to one checking account. Detailed statements from each location are available at the end of your statement cycle.
- Check Image CD — Receive a CD with images of checks that have cleared your account — available monthly or cumulatively.
- Deposit Items Image CD — Have a copy of all of your deposited items on one easy to use CD.
Merchant Services — We offer competitive merchant card processing rates backed with excellent customer service.
Zero Balance Accounts — Eliminate the need for transferring money between your checking accounts by establishing a master account that will fund all of your other accounts.
For more information, please call 901-259-5440 or contact us.