BankNet Solutions
With Integra's BankNet online service you have 24 hour access to your business account information through our secure website. Using a unique login and password, you can access the following money management features:
Information Reporting
Access current day and prior day account balances, transaction history, float and interest information. You are able to review loan reports, including balance detail and your current interest rates. The transaction search feature allows you to determine if a check has cleared your account or to find a specific transaction.
Check Images
As a BankNet customer, you have the ability to retrieve images of paid checks online. This online service offers you a quick and inexpensive way to search for items that have cleared your account in the past 60 days.
Alerts
Receive messages sent to you from BankNet that inform you about important transactions or account events, such as cleared checks, cleared transactions, balance thresholds or ACH transfer action requirements.
Online Statements
Receive your monthly statement online versus through the mail. We will archive your statements for six months online and you will have the ability to download them to your hard drive or print a copy. Now you can safely and securely manage your bank statements without the hassle of paper.
Multi-tier User Access
BankNet's flexible administration feature allows for user access to be based on individual job responsibilities. Users can be set-up to use only those functions and view only accounts that are needed to perform their day-to-day activities.
ChekWatch
Integra's ChekWatch service provides your company with a single CD-ROM containing the front and back image of each cancelled check that cleared during the month. The Check Imaging service alleviates the problem of storing and organizing hundreds of cancelled checks. Each CD holds approximately 20,000 items, the equivalent of six to nine boxes of checks. This may be the answer if storage space is at a premium. In addition, there is no longer a need to search through boxes of checks for a paid item: a robust indexing and search engine identifies and locates your cancelled check and tells you what CD ROM holds the image.
Sweep Accounts
Integra offer three sweep services.
Investment Sweep Account
An Investment Sweep Account is a product that automatically invests excess, daily collected balances in overnight repurchase agreements (Repos). The next day the funds necessary to cover any checks are automatically deposited back into the checking account. This service enhances return on investment and minimizes the need to track and transfer investment funds manually.
Commercial Line of Credit Sweep
Minimize outstanding balances on your Commercial Line of Credit by sweeping excess collected funds from your checking account. Based on your target balance, funds are automatically transferred back from your line into your checking account as needed. With a Line of Credit Sweep, you save time, improve financial control and reduce interest expense.
Investment/Commercial Line of Credit Sweep
Investment/Commercial Line of Credit Sweep helps to manage your excess balances. If your line of credit has an outstanding balance, daily excess collected funds in your business checking account will sweep over to reduce interest expense. If you have no outstanding balance on your line of credit, excess collected funds sweep into the Investment Sweep Account. Our money management system also provides overdraft protection ensuring that funds will be swept from your business line of credit when needed.
Check Collect Recovery Service
Check Collect Recovery Services provide a non-intrusive, cost-effective solution for automating the recovery of consumer checks returned for non-sufficient funds (NSF). This innovative service captures an image of NSF checks and electronically re-presents them to the consumer's financial institution via the Automated Clearing House (ACH) network. A secure Web site enables businesses to track each NSF check through the collection cycle, and consolidated reporting is available online 24x7. The Check Collect Recovery Services pays 100 percent of each collected check's face value plus a portion of the collected state NSF fee, and ensures compliance with all related regulation imposed by the National Automated Clearing House Association (NACHA).
Zero Balance Account
Zero Balance Accounting is a basic cash management mechanism designed to be used as a concentration and/or disbursement system. An Integra Bank Zero Balance Account (ZBA) operates like a normal checking account. All transactions (either debits or credits) post to the account each day. At the end of the processing day, a transfer is automatically generated to or from the concentration account to bring the account balance back to zero.
As a disbursement system, ZBAs allow your company to segregate the various disbursement functions, such as accounts payable, yet eliminate balances and the time consuming tracking and pre-funding of separate accounts. Each disbursement account generates a separate month-end banking statement for easy reconciliation. Daily reporting of Zero Balance Account transactions is reported at both the concentration account and subsidiary account level by way of BankNET and your monthly bank statement.
Equal housing lender.