Business

IMPORTANT UPDATE!

2011 will bring some exciting updates to our website.  As you know, Suffolk First Bank completed its merger with Xenith Bank in December 2009.  Continue reading...

Treasury Management

 

Simplify your business finances!

Maximize your time and capital!

 

SuffolkFirst Business Banking can help you do just that through the following products and services:

 

Direct Deposit and ACH Origination

Automated Clearinghouse (ACH) Network payments are the fastest growing service provided by the banking industry.  ACH allows businesses to set up:

  • Direct Deposit of employee payroll
  • Automated payments from customers for any regular monthly payment including monthly dues for fitness centers, tuition payments for private schools or daycare, insurance premiums, orthodontist payments, etc.

 

Automated Sweep

Automatically invest excess cash balances overnight to earn a high rate of return.

  • With our Automated Investment Sweep service, you can transform idle balances into hardworking investments and make the most of your organization’s funds.
  • Because all the transactions are done automatically, you will not have to commit your time and expertise to calculating your investment amount or performing nightly transactions.
  • Your unused balances can earn money market rates every night, without having to keep those funds in an inaccessible money market account all the time.

Investments are liquid. Excess cash is swept out to be invested when available and back in the next business day to cover payment obligations.

 

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Remote Deposit Express

With the use of a check scanner and your computer, Remote Deposit Express will allow you to process your check deposits electronically right from the convenience of your office.

  • Saves time and money - eliminates the need, cost, and liability of regular trips to the bank. 
  • Deposits checks right from your desktop - 24 hours a day, 7 days a week.
  • Peace of mind - assures deposits are being made daily which may improve your cash flow
  • Streamlined operations - automates the process of creating deposit tickets.  Improves posting accuracy.
  • Easy to use - Just scan your checks and the images are transmitted for deposit into your SuffolkFirst Bank business checking account.

 

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Payroll Services

SuffolkFirst Bank wants to assist employees with simplifying their payroll.  SuffolkFirst offers direct deposit payroll, which allows business owners to use the Automated Clearing House (ACH) to deposit their employees' pay into their personal checking or savings accounts. 

 

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Merchant Services

 SuffolkFirst Bank offers Merchant Services that will enable your business to process and clear MasterCard and Visa transactions from your customers.  

 

 

 

 

 

 

 

 

 

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