Lock Box Service
- NSBT will process your receivables according to your specifications. Your creditors mail their payments directly to a PO Box in your name operated by NSBT. This allows for more immediate availability of receivables.
- The sweep account is linked to your commercial checking account. Nightly transfers of excess funds from your checking into a sweep investment account allow idle account funds to earn interest. If the commercial checking were to go below minimum balance requirements, the funds would transfer from the sweep investment to meet the requirement.
Linking Commercial Checking Accounts to your NSBT Line of Credit
- Your commercial checking account can be linked to your North Side Bank Line of Credit. Nightly transfers of excess funds can be swept to pay any balance owed on your Line of Credit first. If there is no outstanding balance on the Line of Credit, the excess funds will be deposited into a sweep investment account where it can earn interest until it is needed. If your commercial checking were to go below minimum balance requirements, the funds would come from your investment account first. If all investment funds are depleted, the funds will transfer from the Line of Credit.
- As an added feature to having your commercial accounts with NSBT, we will assist you in setting up a Merchant Processing Account for your business. By setting up Merchant Processing, you can make anyone with an active bankcard your personal customer and accept payments in a easy and convenient fashion.
*Contact one of our Commercial Lenders or Bank Managers for more information.