| Onsite CheckPass® | • | ACH Services | • | Lockbox Services | • | Wire Transfers | • | Overnight Sweep Account | • | Easy Escrow |
Cash flow management is essential to running any business. Univest can help you manage your cash flow more effectively so you can put your cash to work for your business. Whatever your size, we have solutions for all of your business needs. We offer a full range of innovative cash management solutions to help you succeed by giving you more time to do what you do best - run your business.
Collection Services Onsite CheckPass® (Remote Deposit Capture) |
Disbursement Services Account Reconcilement Services |
Online Information Services |
General Account Services |
Onsite CheckPass® (Remote Deposit Capture)
Make deposits without making a trip to the bank. Univest's Onsite CheckPass® is an easy, cost effective and convenient remote deposit solution for your business. It streamlines the entire bank deposit process, so you can deposit your checks right from your desktop.
Onsite CheckPass® can help you reduce expenses, improve cash flow and save time by eliminating trips to the bank. It's like having a teller right in your office.
Onsite CheckPass® is particularly valuable to businesses that:
- Deposit a large quantity of checks
- Have multiple locations and account relationships
- Have difficulty getting to the bank
How Onsite CheckPass® works:
Simply key in the amount for deposit and scan your checks using the desktop scanner located right in your office. Confirm your scanned deposit total matches your calculated deposit total and transmit the balanced deposit to Univest. Deposits can be transmitted several times a day or at the end of the business day. Receive same-day credit for all deposits made by 6:00 p.m. on business days.
Benefits of Onsite CheckPass®:
- Save time and money with fewer trips to the bank
- Expedite receivables directly from the convenience of your office
- Make deposits as often as needed
- Fewer data entry errors
- Improve account efficiencies
- Simplify your record-keeping with reports and check image retrieval capabilities
Find out how Onsite CheckPass® can change the way your business banks. Contact a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net to learn more.
Merchant Services
Consumers are using credit and debit cards more than ever to make purchases. Univest realizes that for businesses to remain competitive, they need to offer their customers more payment options. No matter what type of business you have, we’ll work with you to customize a payment processing solution that fits your unique business and enables you to accept the forms of payment your customers want to use:
- Credit Cards
- Debit Cards
- Gift Cards
- Electronic Cards
As a Univest business customer, you will be able to process payments for MasterCard®, Visa®, American Express® and Discover® cards by phone, web-based system or through a POS terminal. All with the added satisfaction of 24/7 toll-free customer service, free training and a dedicated account manager.
Univest Merchant Services can benefit businesses that:
- Are looking for more payment options to offer their customers
- Want to save money on their credit card processing fees
Benefits of Merchant Services:
- Potential for increased sales and revenue
- Higher level of security in your business transactions
- Increase speed and accuracy of transactions
- Improve cash flow
- Greater likelihood of moving big-ticket items
- Easier account management with online reporting
Take a close look at your credit card processing fees - chances are you could be saving money with Univest. We guarantee savings or you'll receive $500 back and your termination fee waived.*
3 Steps to Start Saving: 1. Meet with a Univest Merchant Services Representative 2. Compare our quote with what you pay now 3. Start saving or collect $500* |
Stop overpaying on credit card processing fees. Contact a Merchant Services Representative today at 877.723.5571 or merchantprocessing@univest.net for more information or to schedule a free consultation.
*Must have a Univest business checking account. Offer applies to first-time merchant processing customers only. $500 payable in Visa® gift card. Three consecutive months of current statements required to verify current price. Payouts are calculated by TSYS Merchant Solutions on a sliding scale according to the estimated annual MasterCard® and Visa® transaction volume projected from your three most recent consecutive months processing statements. Standard termination fees will apply after the 90-day trial period. Offer may be terminated at any time.
Lockbox Services
Univest offers a convenient way to help your business maximize cash flow by improving the collection of receivables. Whether your business is a small organization or a large corporation, our Lockbox services are tailored to meet your accounts receivable needs.
We offer two different types of lockboxes for optimal availability to your funds:
- Wholesale Lockbox - best for businesses that process a small volume of payments
- Retail Lockbox - best for businesses that process a large volume of smaller payments
Lockbox Services are particularly valuable to businesses that:
- Receive multiple payments from customers or business partners
- Want to simplify their accounts receivable administration
- Are looking for faster access to deposited funds
How Lockbox works:
Clients of your business send payments directly to a bank designated P.O. Box. Univest collects the payments, processes them quickly and accurately according to your instructions. Funds are then deposited directly into your Univest business checking account within one business day. We then send you a secure deposit report that includes all payment information accompanying the checks. In addition, customers can access deposit detail and remittance information reports online.
Benefits of Lockbox Services:
- Minimize collection and processing time
- Reduce administrative costs
- Decrease the risk of theft, fraud and error
- Improve auditing and records management
- Options available to fit your business needs
To learn more about Univest's custom Lockbox services, contact a Cash Management Representative in a county near you:
Montgomery, Chester and Lehigh counties - Stephanie Perry at 484.931.2608 or cashmanagement@univest.net
Bucks County - Mike Ohman at 267.898.0531 or cashmanagement@univest.net
Re$ubmitIt®
Univest's electronic check recovery service, Re$ubmitIt®, is a free service available to business customers and significantly reduces the burden of collecting funds from NSF checks, while potentially doubling your recovery rate. Your business can collect more returned checks and get 100% of the face value of all checks that are collected electronically.
Re$ubmitIt® is particularly useful to businesses that:
- Have frequent issues with checks being returned for non-sufficient funds
- Don't have the time or resources to collect on bad checks
- Have lost money on bad checks
- Are looking to improve efficiencies and check collection processes
How Re$ubmitIt® works:
Univest sends any non-sufficient funds (NSF) checks to Re$ubmitIt®, who converts the checks to electronic transactions and re-submits them to the check writer's checking account for collection. The procedure provides the business customer with three attempts to collect the full face value of the item or check, as opposed to only two presentments allowed with a paper check alone. Upon settlement, 100% of the face value of the check is reimbursed to you automatically. The check writer's account is charged a state-regulated collection fee to cover the cost of collection.
To be eligible for electronic recovery, a returned check must:
- Be a personal check to a business (not business-to-business)
- Be under $2,500
- Be less than 180 days old from date of transaction
- Cannot have been already submitted twice, either electronically or by paper draft
Benefits of Re$ubmitIt®:
- Higher success rate over traditional collection methods
- Save time trying to collect on bad checks
- Reduce administrative costs
- Recover 100% of the face value of returned checks
- Track returned items online 24/7
If you have questions about the Re$ubmitIt® electronic check recovery service, please email them at support@resubmitit.com.
Account Reconcilement Services
Our automated Account Reconcilement services provide your business with greater accounting efficiency and increased productivity by reconciling your business’s check register against your bank statement to detect any discrepancies. You can elect to outsource all or part of your monthly bank reconcilement process depending on your business needs.
- Full Reconcilement – provides detailed reporting of the checks paid, outstanding checks, exception checks and bank fees
- Partial Reconcilement – provides detailed reporting of all checks paid against your account
Account Reconcilement Services are particularly useful for businesses that:
- Want to improve efficiency by automating their account reconcilement process
- Use multiple accounts and handle a large number of checks
How Account Reconcilement works:
Simply provide Univest with a file of the checks your company has issued, including the check number and dollar amount. Our automated system matches checks presented for payment with those in your issue file and generates a reconciliation report that includes a list of checks paid, outstanding checks, exception checks and bank fees. A detailed report of all checks paid against your account is returned with partial reconcilement.
Benefits of Account Reconcilement Services:
- Save time and money
- Improve account efficiency
- Reduce administrative costs
- Minimize check fraud losses
- Better cash control
Find out how Account Reconcilement can change the way your business banks. Contact a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net to learn more.
Positive Pay
Check fraud is one of the greatest challenges facing businesses today due to advances in technology, which have made it easier than ever to produce authentic-looking counterfeit checks. Univest's Positive Pay provides a convenient and
cost-effective way to help prevent check fraud by monitoring the checks processed for payment against your account. Positive Pay is an automated fraud detection tool designed to supplement the internal security measures you already have in place for your business.
Positive Pay is beneficial for businesses that:
- Want to limit check fraud on their accounts
- Have experienced check fraud
- Write a significant number of checks
How Positive Pay works:
You provide Univest with a file of issued checks each day checks are written. The check-issue file contains the check number, account number, issue date and dollar amount of each check. Univest then uses this information when comparing checks presented for payment to your issued-check files. Any checks that do not match your issue information are presented to you on a daily basis to determine if you want to pay or return the check.
Benefits of Positive Pay:
- Minimize exposure to check fraud
- Eliminate the need to issue stop payments resulting in lower banking fees
- Improve accuracy of deposit balancing
- Simplify month-end reconciliation
For more information or to sign up for Positive Pay, contact a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net.
Automated Clearing House (ACH)
Our Automated Clearing House (ACH) services allow your business to collect funds and make payments electronically. Typical ACH applications include:
- Direct deposit
- Direct debit
- Vendor payments
- Direct deposit of payroll
- Federal and state tax payments
ACH can also be used for collecting monthly payments or membership dues.
Univest offers several ACH origination methods including Online Business Banking, payroll vendor initiation or directly from your company to the bank.
ACH Services are useful for businesses that:
- Have a high volume of recurring receivables
- Want to accelerate payment and collection procedures
- Are looking to offer their employees direct deposit of payroll
Benefits of ACH:
- More predictable settlement and cash flow
- Reduce administrative costs
- Minimize fraud risk
To learn more about how our ACH services can benefit your business, contact a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net.
Wire Transfer Service
Transfer money safely and efficiently with our Wire Transfer service. Whether you're sending or collecting funds, domestically or internationally, you can easily initiate transfers from your Univest account online or by phone.
Transferred funds are available upon receipt and are immediately credited to or debited from your account.
For more information about our Wire Transfer service, contact a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net.
Enhanced Online Business Banking
Conduct business when it is convenient for you by using our Enhanced Online Business Banking, which includes all of the basic features of our Online Business Banking and much more.
Enhanced Online Business Banking is valuable for businesses that:
- Want the convenience of online banking
- Want to ensure bills get paid on time by paying their bills electronically
- Want to reduce their payroll costs with direct deposit
- Have multiple users accessing their account
Basic features:
- Manage account activity - check balances, review transactions, view images of cleared checks and more
- Transfer funds online between multiple Univest accounts
- Place stop payments
- Download account data in most financial management software, including QuickBooks® and Quicken®
- Online bill payment
- Create multiple user accounts with different levels of security access
Additional features (fees apply):
- Issue wire transfers
- Initiate ACH transactions
- Set up direct deposit of payroll
Benefits of Enhanced Online Business Banking:
- Save time by paying your invoices online
- Greater control over cash flow
- Eliminate the need for paper checks
- Reduce payroll costs such as producing, handling and distributing paper checks
- Manage your money anywhere, anytime
Get started with Enhanced Online Business Banking today by contacting a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net.
Sweep Accounts
A Univest Sweep Account is a smart choice for businesses that have account balances that typically exceed their daily operating expenses. It can help you maximize your funds by automatically transferring excess funds from your business checking account into a securities account every night.
Sweep Accounts are beneficial to businesses that:
- Carry large balances in their checking or savings accounts
- Want to earn more interest on their balances
How Sweep Accounts work:
At the close of business each day, excess funds above a predetermined target balance are automatically transferred from your checking account into an interest bearing account. Funds are swept back into your checking account as transactions are posted and your checking account balance falls beneath your specified target balance. You will receive a detailed monthly statement of investment activity in addition to your regular business checking account statement.
Benefits of Sweep Accounts:
- Earn interest on excess funds
- Maximize cash flow while preserving daily liquidity
- Avoid costly overdrafts
- Immediate access to investment balances
- Combine balances from multiple accounts to meet threshold amounts
Account Analysis
Univest's Account Analysis summarizes your checking account and service fee information on one monthly statement. The analysis calculates the average collected balance for each account and assigns an earnings credit allowance, which can offset all or part of your monthly service charges. It allows you to quickly analyze your total deposit relationship and provides useful information when planning cash management strategies.
Account Analysis is valuable to businesses that:
- Have more than one business checking account
- Have comprehensive transaction and reporting needs
How Account Analysis works:
Account Analysis combines all checking account balances in order to calculate a monthly earnings credit amount. That credit is used to offset service charges such as:
- Activity fees
- Statement copies
- Check copies
- Chargeback fees
- Per item fees associated with deposit tickets, ACH debits, etc.
- Monthly maintenance fees
- Telephone transfers
Benefits of Account Analysis:
- Save money on fees associated with your checking accounts
- Simplify month-end reconciliation
- Monitor account activity easily
Find out how Account Analysis can benefit your business. Contact a Univest Cash Management Representative at 877.723.5571 or cashmanagement@univest.net to learn more.
