TREASURY SERVICES

Streamline your daily cash management with First Reliance Bank’s Treasury Services

Save time. Reduce Costs. And improve cash flow. In short, our Treasury Services allow you to focus more on your business and less on your cash management.

ACH Origination

Electronically deposit funds to your employees and customer accounts. ACH allows you to:

• Make one-time or recurring deposits for payroll, reimbursements, tax, and other refunds, annuities, and interest payments
• Eliminate the cost of generating checks, mailing, and postage
• Expedite funds availability from funds deposited for your customers
• $30 monthly fee.

Online Wire Transfers

• One of the quickest ways to transfer funds
• Check status of your wire online, and receive email or fax notifications regarding the detail of your transaction
• $10 per month, plus $10 per domestic wire and $50 per international wire.

Credit Cards

The First Reliance Platinum Collection is the local credit card that gives your business global purchasing power. 

Remote Deposit Capture (RDC)

Deposit incoming checks into your First Reliance Bank business checking account remotely… without leaving the office. Because your deposits are made faster, Remote Deposit Capture increases your cash flow. 

• Deposit from your place of work 
• Deposits are made faster
• $55 fee per month (and single-feed scanner is free).

Need help setting up your scanner? View our tutorial here.

Mobile Check Deposit

Deposit checks into your First Reliance Bank business checking account from your phone. Perfect for a small business with low check volume.

• Deposit up to 20 checks per day for a combined daily total of $25,000
• No monthly fee.

Merchant Services

Merchant Services from First Reliance Bank allow you to accept a variety of payment methods to better serve your customers. These may include credit cards, debit cards—you can even generate gift cards to generate new business and maintain customer loyalty. 

• Online transaction reporting
• Next day access to funds
• Virtual terminals—so you don't need to buy or rent hardware
• 24/7 customer service and help desk
• Highly competitive pricing

Click here for more information.

Re$ubmitIt

Re$ubmitIt uses the ACH system to resubmit NSF checks automatically to your customer’s bank. This increases your likelihood of collecting, while reducing the time you spend collecting. Re$ubmitted comes automatically with your business checking account, at no cost to you.

• Reduce the burden of check collections
• Receive 100 percent of the face value of all checks collected electronically
• No cost for Re$ubmitIt

Sweep Services

Make the most of your cash reserves. When your end-of-day checking account balance exceeds your target balance—an amount you set in advance—funds automatically “sweep” into an interest bearing account or go to pay down your line of credit. 

• Maximize earning potential and reduce interest expense
• Automatically sweep excess funds to earn interest or pay down debt
• Funds sweep automatically, based on your target end-of-day target balance and preference (paying down debt or earning interest

Deposit Account Sweep Services / Zero Balance Account (ZBA)

• Set a target balance or target a zero balance, every day any excess funds in the central operating account are automatically swept into an interest-bearing account to increase returns and maintain liquidity
• When the operating account needs funds to maintain the target balance or falls below zero, funds are automatically swept from the interest-bearing account to the central operating account
• Minimize the risk of overdraft fees
• $75 fee per month

Line of Credit (LOC) Sweep Services

• Set a target balance, every day any excess funds in the central operating account are automatically swept to pay down your line of credit
• When the operating account needs funds to maintain the target balance, an advance is taken on the line of credit to fund the central operating account to the target balance
• Minimize the risk of overdraft fees
• $150 fee per month

Repurchase Agreements

For government-affiliated agencies requiring collateralization of funds, this program lets you earn interest on excess funds in your business checking account until you need them. No minimum investment is required. 

Risk Management

Check Positive Pay

A proactive tool to stop fraudulent checks and presenters. You provide amounts and serial numbers of checks you issue. First Reliance Bank compares checks presented for payment with the information you provide. Exceptions trigger alerts to make pay/return decisions. Images of checks can be accessed on demand. Payee positive pay is also available. Payee Positive Pay is where the name on the check in the "pay to the order of" line is scored against the payee name provided with the issue item to determine the likelihood of a match. 

• Identify fraudulent checks and presenters
• Identify fraudulent checks and return them to prevent financial loss 
• $50 fee per month

ACH Positive Pay

A proactive tool designed to alert you when an attempt is made to withdraw funds from your account electronically, using the ACH payment network. You setup the parameters that should prompt an alert and the method of the alert (text, email or both). Upon receipt of an alert, you can return a payment, pay it once, or add it to your approved list. You even have optional parameters like maximum amount, frequency, and start and end date.

• You're alerted when unauthorized ACH transactions are attempted
• Identify fraudulent transactions and return them in the timeline dictated by law to minimize your exposure
• $25 fee per month

ACH Block

A tool to block certain companies from attempting to withdraw funds from your account electronically, using the ACH payment network. 

• Identify companies that are NOT allowed to debit your account or accounts
• Companies on your block list are prevented from making ACH transactions on your accounts
• $20 fee per month
   

Expense Management

Account Analysis

For businesses with high transaction volumes, large balances, or multiple checking accounts, Account Analysis accrues earning credit on balances that can be used to offset most or all fees.