Grove Bank & Trust uses the latest technology-based systems to make banking more convenient, secure and efficient for your business. Our experienced business bankers will tailor a suite of Treasury Services to help you track, monitor and manage incoming and outgoing funds.
RECEIVING & COLLECTING SERVICES
ACH DEBIT ORIGINATION
Automated Clearing House (ACH) processes large volumes of credit and debit transactions. ACH debit allows collecting funds from clients or nearly anyone.
REMOTE DEPOSIT CAPTURE (RDC)
Our Remote Deposit Capture service allows you to deposit checks directly from your office computer. Using our RDC system, you can scan checks remotely and transmit check images to Grove Bank & Trust for deposit via an encrypted Internet connection.
MERCHANT PROCESSING SERVICES
Speed up your receivables collection process by accepting Visa®, MasterCard®, American Express®, and Discover® credit cards or bank debit card transactions at your office. Our banking team will assist and orient your staff in establishing merchant services that allow credit and debit transactions using an online ordering or point of sales system. Our systems also support EMV chip cards and Apple Pay, offering an added level of security for your customers.
Grove Bank & Trust works with all the major armored courier companies to help you organize, secure, transport and deposit cash received at your company locations.
TRACKING & MANAGING SERVICES
Our Online Banking service allows you to access your account information, monitor activity and process transactions from any internet-enabled PC. The system can be customized to suit the particular needs of your business and can include some or all of the following features:
- Activity reporting – Get real-time retrieval of account balance, activity information, check and deposit images.
- Internal transfers – Move funds between your accounts at Grove Bank & Trust.
- Stop payments – Place a stop payment on one or multiple checks.
- Wire transfers – Originate, track and monitor repetitive and non-repetitive wire transfers with various levels of security profiles, including one-time pass code authorization.
- ACH Origination – Create NACHA-formatted files to originate ACH debit and credit transactions, or upload files created by your existing account system.
- Bill Payment – Schedule bill payments to businesses or individuals.
Protect yourself from fraudulent checks and online transactions with Positive Pay automated fraud detection tool. This Grove Bank & Trust service helps you detect and protect disbursement accounts from unauthorized payments. Positive Pay matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued.
Earn a return on uninvested cash balances with Grove Bank & Trust's sweep service. Interested business clients can link a deposit account to a loan or investment account, creating an automatic primary and secondary account sweep service based on predefined parameters.
PAYING & SENDING SERVICES
WIRE TRANSFER PROCESSING
Send money fast and secure online. With our wire transfer service, there’s no need to visit a local branch office to initiate a wire transfer. Customized limits and one-time pass code authentication ensure timely and secure processing of your transactions.
ACH CREDIT ORIGINATION
Pay employees, vendors or retirees efficiently and economically by originating payments via the ACH network. This electronic payment delivery system is the method of choice when sending numerous payments, repetitive payments or direct depositing funds to employees or other recurring payment recipients.