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Skip Navigation LinksHome > Business Services > Cash Management Services > Payables Management

Payables Management

Signature Bank has long recognized that the methods by which companies manage payables (expenditures such as operating expenses, payments to suppliers, employee expenses, taxes and other operating costs) impacts the financial condition of a firm, as well as comfort level of vendors, employees, and principals. With this in mind, Signature Bank focuses on delivering the products, services and support required to streamline, report, and manage your outbound cash flow.


  Account Reconciliation

Signature Bank offers two levels of account reconciliation service.

  • Partial reconciliation: Provides reconciliation of paid checks only.
  • Full reconciliation: Includes the full reconciliation of both paid and outstanding checks.
  Local Positive Pay

Deters check fraud by comparing checks presented for payment with those issued. Non-matching items are marked as suspect checks and are referred to you for a pay/no pay decision.

  Controlled Disbursement

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Signature Bank's Controlled Disbursement advises you of your required daily funding by providing early morning notification of what checks will be presented for the day. This allows you to write checks on your checking account and not fund those checks until they are presented for payment. On the day of presentment, the total amount of the day's clearings is automatically debited from your account, eliminating any manual transfers. By funding your operating account that same day you will have the ability to forecast cash requirements, help prevent overdrafts and invest your excess funds. Other services available in conjunction with Controlled Disbursement are Account Reconciliation, Positive Pay, and images of presented checks.

  Check Cashing / Payroll Options

Signature Bank provides your business with various employee payment alternatives. Options include:

  • Direct Deposit: enables your employees to have their paycheck electronically deposited into their accounts. The deposit can be initiated by any of the following:
    • payroll processors, for example, ADP, Paychex, Ceridian
    • Signature Bank’s Monogram Business Online™ with ACH module
    • direct ACH file from your firm in NACHA format sent to Signature Bank.
  • PayTM: allows you to pay employees without a checking account via direct deposit to an employee's PayTM card. Employees can then withdraw their pay from an ATM machine as well as make point-of-sale purchases with the PayTM card.
  • Check Cashers: Provide your employees with an easy method of cashing their paychecks at specified locations, without inconvenient and costly check cashing fees.
  • On-site Payroll: Signature Bank has arrangements with several armored couriers that disburse cash to you for payroll purposes. Prepared payroll envelopes allow employees to receive their pay onsite while the company needs only one check for payroll management–this eliminates payroll check reconciliation.
  ACH Processing

Use Signature Bank’s ACH processing to originate electronic payments such as direct deposits, tax payments, and more. ACH processing provides:

  • Automated settlement and reporting
  • Automatic returns re-presentment
  • Improved cash forecasting
  Remote Official Check

Remote Official Check Log-In

This feature allows you to issue official bank checks without having to visit a Signature Bank location. You enter check information remotely through a secure website using an authorized user ID and password. Once your request is approved online by the Bank, you can print the checks locally on a dedicated printer. This will replace the need for certified checks.

  Payables Management via Monogram Business Online™

A web based cash management tool, Monogram Business Online™ allows users to originate wire and ACH transactions while setting multiple levels of user controls. For more information on Monogram Business Online™ transactional and reporting functions, click here.

  Zero Balance Accounts

Maximize use of funds by linking your disbursement account (such as a payroll account) to your operating account. Checks presented for payment will be paid from your disbursement account, and at the close of each business day, the total debit amount will be transferred into the disbursement account from your operating account to keep it at a zero balance. If there is a positive balance in your disbursement account, Signature Bank will automatically transfer the available balance from your disbursement account to your operating account at the close of each business day.


Cash Management Services
Overview
Payables Management
Receivables Management
Information Reporting
Monogram Business Online™
Target Balance/Sweep Account





No information on this web site should be considered a recommendation or solicitation to invest in a particular security or type of security.

Signature Securities Group Corporation ("SSG") is a registered broker dealer, registered investment adviser, and licensed insurance agency. SSG, Member FINRA/SIPC, is a wholly owned non-bank subsidiary of Signature Bank.

Securities, Insurance and Monogram Money Market Funds Program products are:
• NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE

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