Interest Bearing Accounts by kse10139


									  Interest Bearing Accounts
What is it?
Our Non-Profit/Public Funds Interest Checking account has been specially designed to meet the
needs of some of our largest depositors - not-for-profits and governmental entities. These accounts
offer the maximum rates available and have an optional sweep feature.

How does it work?
These accounts function like a commercial analysis
checking account with the flexibility of unlimited
transactions. These accounts can also be linked to our
sweep service which collects excess balances form
other accounts to help streamline your daily cash flow
planning. If the sweep feature is utilized, we can help
you determine a balance threshold so you can avoid
expenses on your account.

These accounts are only available to qualified, not-for-profit organizations or government entities. / (765) 742-1064
                         ACH Services
What is it?
The Automated Clearing House (ACH) is a funds transfer network of regional associations (many
operated by the Federal Reserve), inter-bank associations and private sector processors. ACH
provides a safe, efficient method to move collected funds on a next-day basis without the expense of
paper check stock or a wire transfer. Money can be moved to and from any financial institution that
participates in the ACH network.

How does it work?
We accept all ACH files created in NACHA format. Files must be received by noon in order to
assure timely processing. We recommend that business to consumer ACH transaction, e.g. direct
deposit of payroll, be sent to the bank two (2) days prior to their effective date. Business to business
ACH transaction, e.g. cash concentration may be sent one (1) day prior to their effective date. The
only means of transmitting ACH files to us is through the use of our online banking product. ACH
functions provided through online banking are as follows:
        ~ Single or multiple transaction origination
        ~ Direct deposit
        ~ ACH receipts
        ~ Cash concentration
        ~ The ability to upload a NACHA file or other properly formatted files
        ~ The ability to initiate certain types of Federal and State tax payments

Lafayette Savings Bank originates ACH transaction on behalf of our
customers each year. Our Deposit Operations Department has
implemented many procedures to ensure the secure and accurate
processing of each file received. Transaction processing systems
are continually upgraded to maintain high standards of performance.
Also, our online banking product contains a security feature that
offers the ability to limit transaction entry and transmission
capabilities to certain users via login ID and password.

       ~ Helps trim operating expenses
       ~ Cuts banking costs
       ~ Lowers postage, check printing, and reconcilement costs
       ~ Enhances your relations with your vendors and customers / (765) 742-1064
                                                  CD Images
What is it?
Check storage has long been a necessary component of the account reconciliation process, but one
that has caused many frustrations. We have invested in equipment to alleviate that burden for our
customers by providing images of paid checks on a CD-ROM.

How does it work?
During daily processing, the bank’s equipment
captures images of checks. At the end of each
statement cycle, these stored images are retrieved
and burned on a CD. This CD contains images
of the front and back of each check.* Because
we can provide images of the front and back
of each check, our product provides adequate
documentation for legal proceedings.

The CD includes its own self-loading software
that facilitates the viewing of images. The user
may view the front, back or both sides of the
image as well as rotate and adjust the size of an image. The user may also sort items according to
processing date, check number or account fields.

The CD can be made available as quickly as the third business day following the end of the
statement cycle.

            ~ Shortens research time
            ~ Decreases in-house storage needs
            ~ Maximizes fraud control

*By default the CD only provides images of the front of the checks.
If you would like the backs of your check images included as well, you must specify this in advance. / (765) 742-1064
                           Positive Pay
What is it?
Positive Pay is a fraud prevention tool that assists with the identification of unauthorized checks that
are drawn against your commercial account. Examples of unauthorized checks include counterfeit
or altered checks.

How does it work?
Your organization will be asked to
periodically send us a file through our
online banking service containing data
about issued checks (account number,
check serial number, dollar amount an
date). We store this file and compare
it to checks that clear your commercial
account. If a check is presented for
payment that does not match the
information contained in the file for that
check, the check is termed a “suspect
item”. You will be notified via email
on the opening of the next business day that a report of suspect items has been prepared for your
review. A secure portion of our web site is available for you to inspect the image of the suspect item
(front and back) in order to determine its validity. You then have until 10:30 AM (CT) that day to
inform the bank if you would like us to pay or return the item.

       ~ Reduces your company’s exposure to check fraud
       ~ Easily integrated with account reconciliation services
       ~ Internet based image deliver to your desktop streamlines the pay/no pay decision process / (765) 742-1064
        Zero Balance Account
What is it?
A Zero Balance Account (ZBA) is a stand-alone checking account that maintains a set balance at all
times. The balance maintained could be zero or any other balance desired.

How does it work?
The account is tired to another account designated as the
concentration account that holds all funds. Deposits
made to the Zero Balance Account are moved tot he
concentration account after the designated balance is
reached. As checks clear the Zero Balance Account,
collected funds move from the concentration account to
the Zero Balance Account to clear presented items and
maintain the designated balance.

  ~ Provides an easy audit trail for disbursements or
    deposits made for a special purpose such as payroll
  ~ No time is wasted forecasting cash needed in the
  ~ Eliminates manual transfers of funds between
  ~ Your funds do not sit idle in a checking account while your payments are clearing at your
    payee’s bank
  ~ ZBAs and concentration accounts clarify your cash position, allowing you to see when it should
    be altered to fit new circumstances / (765) 742-1064
                  Remote Capture
What is it?
Remote Capture is a web-based check image capture, storage and processing solution that enables
Lafayette Savings Bank to provide commercial customers the ability to deposit paper checks

How does it work?
Remote Capture is like bringing our teller window to your business. No more filling out deposit
slips by hand and no more driving to the bank from remote locations to make a deposit. Scan your
deposit 24/7 and receive same day credit if received by 6:00 p.m.. It is ideal for customers with
large volume of checks to process every day. The cost of routing and speed of collection are also
optimized with this service.

       ~ Eliminate the need to take checks to the bank
       ~ Offers speed, savings, convenience and security
       ~ Improves efficiency and profitability / (765) 742-1064
    Online Banking for Business
Your business is your baby... and no one helps take care of it better than
we do. We’re a local business owner just like you and we understand
the pressures and opportunities you face running the show. That is
why we are excited to introduce our new Online Banking for Business
service. This new service provides exciting, new features and capabilities
that will enable you to manage your account the way you want - anytime,
anywhere! Below is a chart that highlights some of the wonderful
enhancements that are included in our Online Banking for Business service.

Features	 	                	        	         	   Benefits
Real-time posting of transactions and transfer    Immediately move funds between your accounts to accommodate
                                                  your cash management needs

Viewable Check Images                             View, print, and keep copies of cleared checks for easier record-
                                                  keeping and research

Loan History                                      Review your loan account information

Self-managed control for online account access    You determine who has online access to your accounts and at
                                                  what level

Online Account Statements                         View and print your monthly account statements

Limited descriptions of business debit card       Easy to understand details about where you have used your debit
transactions                                      card helps you keep track of your money

Email Account Alerts                              Stay on top of your money by setting up email alerts about your
                                                  account status or balance

Secure emails to customer service                 Send questions about your account to our bank staff using our
                                                  secure messaging feature

Online Tax Payment (EFTPS)                        Easily make your scheduled tax payment via online banking

Download to Quicken and Microsoft Money           A simple interface lets you download and manage your accounts
(current and two prior versions)                  with your accounting software

Wire Transfers and ACH transactions (e.g.         Easy to set up templates to make routine payments and receipts
direct deposit)                                   a breeze / (765) 742-1064

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