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Smart solutions for managing cash flow

Your business may be profitable, but if you’re not managing your cash flow efficiently, you could be missing out on opportunities to grow your business. Of course you always want to keep enough cash on hand to make sure your bills are paid on time, yet if you have too much cash, those idle funds may not be earning much interest. Consider these solutions to help you improve your cash flow:

* Remote deposit: By scanning checks and depositing them from your office anytime day or night, you can avoid needless trips to the bank and take advantage of extended deposit windows.

* ACH collection and disbursement: Collecting payments electronically improves cash flow and speeds availability of funds. And by paying employees and vendors through ACH, you can schedule payments and know exactly when funds will be debited.

* Retail and wholesale lockboxes: With a lockbox service, checks you receive to a special post office box are quickly scanned, processed and deposited – giving you quicker access to payments and streamlining operations.

* Corporate cash sweep*: By setting up an automatic sweep program, idle cash can earn a higher yield in a liquid money market account. You can also set up a zero balance account that automatically moves cash into one or more operating accounts as your cash flow needs require.

* Automated tax payments: Why make tax payments before they’re due? Through services such our remitONE Tax Payment Service, you can access a convenient way to make federal and state taxes right from your phone or PC anytime day or night.

* Payroll cards: If you have a large payroll, consider paying employees with a Visa Payroll Card. Employees get immediate access to funds, while you reduce the cost of processing paper checks.

* Cash concentration account: If you have multiple operating accounts in locations throughout the state, you can have deposits automatically transferred to one easily monitored cash concentration account that improves cash flow and eliminates mail float. California Bank & Trust helps large and small businesses alike improve cash flow through a complete set of smart financial solutions, plus expert advice from seasoned business bankers. To reach the branch location nearest you, call 1-800-CALIFORNIA (800-225-4367) or visit us at calbanktrust.com.

*Corporate Cash Sweep account funds are NOT insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency, are NOT guaranteed by California Bank & Trust and MAY involve investment risk, including cross-border risks and possible loss of principal amounts invested. Swept funds will not be treated by the FDIC as obligations in event of liquidation of the Bank, meaning that swept funds will not be eligible for deposit insurance coverage and will not be afforded status as a deposit under depositor preference statutes. -Submitted by California Bank & Trust

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