Treasury Management The tools you need to grow your business.

Process high-value transactions fast. 

Send both $USD and foreign currency wire transfers securely and easily with Avidbank. Whether you're transferring funds locally or across borders, we simplify the process through an intuitive online platform with robust controls, making wire transfers an easy and effective part of your cash management strategy.

With Avidbank, sending wire transfers has never been easier or more secure. Contact us today to learn more.

Make routine payments quickly and easily.

Automated Clearing House (ACH) Origination allows simple initiation of electronic transactions through the ACH Network, making it a powerful tool for businesses looking to simplify their payment processes. Whether you need to send funds to vendors, contractors, or employees for payroll and expense reimbursement, ACH Payments offer a secure and efficient solution. Flexible settlement options include both same day and next day settlement. 

Key Benefits of ACH Payments:

• Cost-Effective: Significantly reduce the costs associated with paper checks, including printing, mailing, and reconciliation.
• Improved Cash Flow: Enjoy more predictable settlement times, helping you better manage cash flow and financial planning.
• Enhanced Security: ACH payments reduce the risk of lost checks and minimize exposure to fraud, protecting your business and payees.
• Timely Payments: Ensure your employees, vendors, and other payees are paid promptly, improving satisfaction and strengthening relationships.

Contact us today to get started!

Streamline and simplify your payment processes

Our commercial credit cards give you the control, convenience, and flexibility needed to manage business expenses with no surprises. Card features include:

• Customized spending limits for individual employees
• Enterprise-grade security
• ERP Integration
• Easy to use, no cost Expense Reporting
• Customer support 24/7

Access your Avidbank Business and Commercial Credit Cards here.

Subject to credit approval. Please contact your Relationship Manager for details.

Make payments electronically or with paper checks

This reliable service allows you to save money on writing paper checks and postage while having peace of mind tracking your scheduled payments to your billers. 

Key Benefits:

• Pay Bills with Ease: Quickly pay your bills online, whether recurring or one-time payments.
• Send Payments to Others: Make payments to vendors, contractors, or employees seamlessly, eliminating the need for paper checks.
• Schedule Future Payments: Plan ahead by scheduling bill payments in advance, ensuring bills are paid on time without the hassle.
• Go Paperless: Receive electronic versions of your paper bills, reducing clutter and simplifying your record-keeping.

Avidbank offers a comprehensive suite of Trade Finance services to support our clients' domestic and international business activates. In today's global economy, Letters of Credit (LCs) are an essential financial tool used to facilitate secure and efficient trade transactions. Whether you're buying or selling goods internationally or domestically, and need to guarantee a contract/agreement, a Letter of Credit offers a peace of mind by ensuring that both parties fulfill their contractual obligation.  

What is a Letter of Credit?

A Letter of Credit is an independent instrument issued by a bank on behalf of its client that represents an obligation to the beneficiary to pay upon receipt of complying documents. 

Types of Letters of Credit

• Standby Letter of Credit: Secondary payment mechanism and not intended to be drawn on
• Commercial (documentary): Primary payment mechanism covering movement of goods, always involving a draw against presentation of shipping documents

STANDBY LETTERS OF CREDIT

What is a Standby Letter of Credit?

Standby Letter of Credit is a financial instrument issued by a bank on behalf of a client, which serves as a guarantee to a beneficiary that payment will be made if the client fails to meet their contractual obligations. The issuing bank only pays if the applicant does not perform under the terms of the contract and documents are presented in compliance with the letter of credit terms. 

Key Benefits of Standby Letters of Credit:

• Provides security to the beneficiary reducing risk of non-payment
• Improves the applicant's credibility by substituting it with the bank's creditworthiness
• Can be used in various industries and for different purposes, including trade and loans
• Eliminates the need for cash deposits or more complicated guarantees such as bid or performance bonds 

Purposes:

• Trade Finance: ensures payment in international trade where buyers and sellers may not be familiar with each other
• Construction Projects: used to guarantee the completion of large infrastructure projects or construction projects
• Loan Guarantees: helps businesses secure a loan by guaranteeing repayment to the lender

A Standby Letter of Credit is a powerful tool in mitigating risks, ensuring trust between parties in a transaction, and securing financial obligations. It is widely used in international trade and construction by providing a financial safety net in the event of non-performance or default. 

COMMERCIAL LETTERS OF CREDIT

What is a Commercial Letter of Credit?

Commercial Letter of Credit acts as primary payment mechanism used in international transactions to establish trust between buyers and sellers and keep goods moving around the world without interruption. They typically involve the presentation of documents showing shipment has been made (i.e. bills of lading/airway bills) invoices, packing lists, and insurance documents. The bank's obligation to pay is subject to the seller meeting the conditions outlined in the letter of credit. 

Key Benefits of a Commercial Letters of Credit:

• For the Seller: provides security as payment is guaranteed by the bank, reducing the risk of non-payment
• For the Buyer: ensures that payment is only made when the seller fulfills all the conditions of the sale, such as delivery of goods
• Credit enhancement: the bank substitutes its credit standing for yours or that of your business resulting in enhanced purchasing power, reducing the seller's risk, and improving cash flow 
• Reduces risk: ensures payments to and from a foreign country are transmitted and received on a timely basis

How to apply for a Letter of Credit – Contact us and one of our trade finance experts will determine which letter of credit best fits your business needs. 

Deposit checks from anywhere at anytime

With Remote Deposit Capture, you can scan checks without leaving your office and deposit them electronically with our easy-to-use application. Mobile Check Deposit is also available for qualified accounts. 

Key Benefits:

• Save Time: Eliminate trips to the bank, freeing up more time for your business.
• Increase Efficiency: Simplify your deposit process with user-friendly tools and software.
• Enhance Security: Transmit checks securely with encryption and fraud prevention measures.
• Flexibility: Deposit checks anytime, from anywhere with an Internet connection.

Experience the ease and efficiency of depositing checks from your own desk with Remote Deposit Capture from Avidbank. Contact us today to learn how to get started!

Automate payment collection to accelerate receivables. 

ACH Collections provides you with an efficient and secure way to collect payments from your customers. Debiting your clients directly ensures timely payments and improves cash flow predictability. It's especially useful if you are collecting recurring payments for receivables such as subscriptions, leases, or dues. You'll eliminate the hassle of manual collections, reduce errors, and gain more time to focus on growing your business. Detailed reporting and full visibility into collected funds, ensures easy and efficient reconciliation.

Empower your business with ACH solutions designed to save time, enhance accuracy, and optimize your working capital. Contact us today to get started!

Make check collections faster, easier, and more secure.

Whether you receive payments in the mail, process payments from multiple locations, or need faster access to your funds, our Lockbox solution is designed to support you every step of the way. We open your mail, prepare your deposits, and credit your account – all with speed and precision. The same day a deposit is processed, copies of the checks and remittances, and payment information are available in our online portal.  If needed, payment data can also be integrated with your accounts receivable system.  

Key Benefits:

• Faster Access to Funds: Accelerate the availability of your payments by reducing mail float and processing days.
• Cost Efficiency: Lower your internal processing costs with a streamlined, automated solution.
• Enhanced Security: Ensure your payments are processed securely in a controlled, off-site environment.
• Comprehensive Reporting: Access fast, flexible reporting options with detailed insights into your receivables.
• Imaging and Data Storage: Gain peace of mind with check and invoice imaging, along with secure, off-site storage of payment data.

Let our Lockbox Services simplify your payment process, improve efficiency, and keep your business moving forward. Contact us today to learn how we can customize this service to meet your needs.

At Avidbank, we prioritize the security of your online banking experience. 

Key Benefits:

• Real-Time Monitoring: Continuously analyzes transaction activity, proactively detecting and flagging potentially fraudulent transactions before they can affect your business.
• Proactive Fraud Detection: With advanced algorithms and up-to-date security solutions, adapts to meet the latest fraud threats, ensuring your accounts are always protected.
• Out-of-Band Transaction Authentication: Enhances transaction security by confirming your identity through a separate communication channel, providing an additional layer of protection.
• Multi-Factor Authentication (MFA): Adding another security step to verify your identity before allowing access to sensitive financial data. 
• Real-Time Alerts: Stay informed with instant notifications about suspicious activity, allowing you to react promptly and mitigate any potential issues.

You can rest assured knowing your online transactions are protected with the latest in fraud detection and prevention technology. Contact us today to learn more about how you can safeguard your business’s financial activities.

Protect your business from check fraud with Positive Pay, a powerful service designed to verify the checks you issue against those presented for payment. With Positive Pay, we help you identify discrepancies before they become costly issues.

How It Works:

• Each check you issue is matched against checks presented for payment, ensuring the serial number and dollar amount align with your records.
• Any check that does not match your issued file is flagged as an exception. You review these exceptions and decide whether to pay or return the check.
• Automated Decision-Making: If you prefer, set an automatic default to either pay or return checks when exceptions occur, eliminating the need for manual review.

Reverse Positive Pay

In cases where your business doesn't write checks or cannot submit check information, Reverse Positive Pay is an alternative that allows you to detect check fraud and reduce risk. This service works by reviewing checks presented for payment against your account, even when the issue file is not available in advance.

ACH Positive Pay

Safeguard your accounts against fraudulent or unauthorized ACH transactions with ACH Positive Pay. This service helps you monitor and block any ACH debits that do not match your pre-authorized list, protecting your business from erroneous transactions and fraud.