Treasury Management

With Automated Clearing House (ACH) origination, you can offer direct deposit to employees, draft payments from customers, or pay vendors electronically.

This affordable service is easy to use and can save your business both time and money.

• Initiate and receive electronic payments
• More convenient than traditional checks
• Save on check processing costs
• Funds credited faster
• Simplifies collections
• Receive fewer return items
• Reduced chance of fraud
• Save time and expense
• Make state and federal tax payments online

ACH Positive Pay is an online fraud mitigation service which allows you to manage ACH debits and credits posting to your business account via filters and blocks.

• ACH Transaction Filters: Simply specify which ACH debit entries should be allowed to post. You can specify the originator of the transaction and even determine a dollar limit. This prevents unauthorized transactions while allowing certain transactions to occur as expected based on the parameters you have selected.
• ACH Transaction Block: This can prevent unauthorized electronic transactions from occurring on your account. You may add, modify, or delete authorization records using Cogent Connection, our Online Banking service in a real-time environment.

Cogent Connection, our online banking platform, offers balance reporting services for current day and intraday account activity. Enjoy the convenience of easy access to bank statements, as well as export options for account activity , transaction image access for checks, deposit tickets, and deposited items.

• Instant access to deposit, saving, and loan balance information
• View detailed account history
• Transfer funds between accounts
• Place Stop Payments
• Originate wire transfers and view incoming wire transfers
• Originate ACH transactions
• Manage and approve incoming ACH transactions to prevent fraudulent activity
• View and approve or return Check Positive Pay transactions
• Pay bills online
• View bank statements
• Export transaction data to many financial software programs
• Simplify account management
• Save time; avoid unnecessary trips to the banking center
• User dual control, System Administrators , and enhanced entitlements

Positive Pay provides daily protection against losses due to fraudulent check payments and the cashing of unauthorized checks presented at a Cogent Banking Center.

• As checks are presented for payment , we systematically compare the dollar amount and check number to your check issue file. If the check does not match, we present this item for a “pay or no pay” decision via Online Banking.
• Eliminates potential check fraud

The automated collection processes we offer through Electronic Data Interchange (EDI) have multiple advantages: you accelerate payment and collection, operate more efficiently, enjoy greater flexibility, and save time and money.

On both ends of transmissions, data is received, translated, streamlined, communicated, and integrated according to various proprietary formats and standards. The result—it's understood and it's accessible.

• Computer-to-computer transfer of data
• No manual intervention
• Faster cash receipt
• Fewer errors and adjustments
• Reduce costs and delays associated with paper
• All financial EDI ANSI-x12 standards are supported
• Flexibility to provide a wide range of output

Escrow Account Reconciliation

A 3-Way reconciliation primarily for real estate closing attorneys and title insurance companies and agents. The service maintains the accounts and ensures compliance with underwriters' and various other regulatory agency guidelines.

Sub-Accounting

We understand the demands and responsibilities associated with managing funds on behalf of others. Our Account Consolidation and Sub-Accounting Reporting helps you to eliminate the necessity of multiple bank accounts and the effort to manage them.

• Allows individual bank account transactions to be grouped and totaled by virtual sub-account you define
• Interest earnings can be allocated to each Virtual or ZBA sub-account
• Fees can be allocated to each Virtual or ZBA sub-account
• 1099 INT reporting is available
• On-line inquiry, maintenance and reporting is available

Cogent’s Lockbox Services are designed to accelerate the conversion of your company’s receivables into available funds while reducing mail and processing efforts. Regardless of your payment amounts or volume, Cogent has a lockbox solution that will fit your company's needs and help improve your cash flow.

• Payments are mailed to a PO Box in your company's name and retrieved for processing to ensure your payments are applied quickly
• Payments are processed based on your specifications.
• The payment file is customized to allow for direct updating to your accounts  receivable system
• Image File Transfer allows you to populate your in-house archive with images for easy retrieval and viewing
• Online Image Access gives you immediate data that can be used by your customer service department

Ensure your business has the tools, equipment, and support to process customer credit and debit card payments. Cogent Bank provides merchant card solutions through our service partner, Retriever Merchant Solutions. Retriever works to ensure you can accept all major credit, debit, and gift cards. Plus, they offer a wide variety of equipment to ensure you can process payments efficiently.  

• Accelerate cash collection
• Increased customer convenience providing your customers with a broader array of payment options
• Training support 
• 24-hour technical support
• A wide variety of card processing equipment available
• Monthly statement with transaction details
• Competitive processing fees and transparent pricing

Simply scan checks and submit them through our secure online service. We receive the deposit and process it accordingly, getting funds credited quickly and saving you from making a trip to the bank.

• Make deposits anytime, day or night
• Quicker access to deposited funds
• Manage deposit activity across multiple locations
• Consolidation of banking relationships; reducing fees
• Monthly statements make research easy
• Securely encrypted to protect your data

Ensure your idle cash balances are systematically managed daily, maximizing available dollars for your business needs.

A Line of Credit Sweep can be linked from your operating account to your loan. Save interest expense by using our automated systems to pay down your line every night with excess funds. And if you need money to fund your operating account – the sweep will transfer from your line of credit into your operating account.

If you borrow from your line occasionally, but at other times have excess funds to invest, we can provide a Dual Sweep, which will either pay down your line or transfer balances to your investment account.

• Reduce borrowing costs
• Increase interest income
• Eliminate the need to make funds transfers

Fund your payroll, accounts payable, and other disbursement from your main operating account.  Or you can deposit funds to one or more subsidiary accounts and consolidate funds in your master account.  ZBAs give you the option to segregate your transactions, while eliminating the need to manually transfer funds back and forth.

• At the end of each business day, excess deposits are automatically moved from the master account to fund the account(s) or from the accounts with the Zero Balance service to the master account, eliminating the need for internal account transfers
• Multiple accounts with the Zero Balance service can be associated with each master account, which enables centralized control and monitoring

Multi-tiered relationships, where an account is both a master and an account with the zero balance feature, allows for a flow of funds throughout your account structure.