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Treasury Management
Park National Bank’s team of business bankers can help you tailor a cash management program to meet the needs of your growing business. We offer a variety of solutions that can help you to monitor, predict and respond to future cash flow needs. To learn more about the products and services listed below, contact us at 773-602-8330.
Internet Banking
Online Business Banking is a secure, Web-based banking system that enables business customers to perform important banking functions from any convenient Internet connection. This service includes current-day and historical account reporting as well as Web initiation for a variety of transactions.
ACH Services
The bank offers a variety of options to initiate ACH transfers for electronic payment or collection needs. ACH transfers simplify effective cash flow forecasting, reduce paperwork and are less expensive than wire transfers.
Common uses of ACH transfers include:
- Direct deposit of payroll and expense reimbursement
- Federal and state tax payments
- Vendor payments
- Membership dues and dividend payments
- Cash concentration and disbursement
Wire Transfers
The bank offers a range of flexible alternatives for transferring funds for quick settlement depending on your needs. Wire Transfer Services provide you maximum control and security.
EDI Services
Our EDI Services help integrate the flow of information and payments with your trading partners. We fully support your EDI initiative and will assist with enrolling in the initiatives of your customers and suppliers.
Merchant Card Services
Accepting credit card payments can increase sales, control receivables and improve cash flow. We provide flexible processing options for retail, restaurant, mail, phone or Internet sales environments.
Lockbox Service
Accelerate the conversion of your company’s receivables into usable funds and reduce in-house administration time and expense with our Lockbox Service. Your customers mail their checks directly to your lockbox at Chicago’s main post office. We pick-up your lockbox mail and process deposits to your account on the same day. Reports containing information for each payment received are forwarded to you by the bank in a variety of electronic or hard-copy formats.
Positive Pay and Account Reconcilement
Detecting fraud early through timely reconcilement and strict internal controls are the best measures to eliminate losses due to check fraud. Our Positive Pay and Account Reconcilement services make this daily task easy and convenient to help protect against unauthorized activity.
Commercial Card Programs
Our Commercial Card service will help consolidate accounts payable and expense reimbursement activity for streamlined A/P and reconcilement processes, increased control over purchase activities and disbursement float benefits.
Zero Balance Accounts (ZBA)
Eliminate idle balances and improve your ability to quickly monitor and control different types of activity with our automated ZBA transfer service. ZBAs help productively use extra balances scattered between accounts. ZBAs enhance audit controls by making it easy to separate types of cash flow by account for unique reconcilement responsibility.
Remote Desktop Capture
Make deposits directly to your Park National accounts without ever having to leave your office. Through the purchase of our Desktop Teller scanner, you can electronically create an image file which is transmitted to the bank for processing on your behalf.
Business Overnight Sweep
Make the most of your cash reserves with our investment service designed to meet your liquidity needs while providing competitive, market-based returns. We automatically transfer your excess balances for overnight investment to eliminate your need to make daily decisions.
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