Cash Management Services

No matter what account you choose to suit your business needs City First Bank offers you other services which can help your business manage your finances. 

Automated Clearing House (ACH) Originations and Direct Deposit lets you automatically deposit employees’ paychecks directly to their designated accounts. Or, with your customers’ consent, you can collect routine amounts like home owner association or condo fees, contributions, or rents. Go paperless while making payments or receiving funds swiftly and safely.

First Protect Positive Pay gives your business an effective risk management solution to detect and combat fraudulent activity with positive pay procedures. 

Benefits include:

  • Integration into First Business Online Banking
  • Ability to import checks issued directly and import issued item files
  • Independent review and handling of exceptions without any bank employee intervention
  • Automatic detection of exceptions such as duplicate transactions, mismatched check numbers or accounts, non-issued checks, and stale checks.
First Deposit Remote Capture makes it safe and convenient to deposit your checks at a time you choose, without ever leaving your place of business. No more waiting in line for a teller, no more scrambling to get to the bank before it closes, no more mailing in your deposits. The teller window is right at your desk, saving you time and money.

Repurchase Agreements
(Non Deposit Investment Product *Not FDIC Insured* Not a Bank Deposit* May Lose Value)
Repurchase Agreements provide you with the convenience of immediate liquidity while offering complete security. A repurchase agreement couples your checking account with an overnight investment collateralized by U.S. Government and agency securities. Funds in excess of those needed for daily liquidity purposes are swept each night from your checking account to your repurchase account. Conversely, if your need for funds increases, the funds are swept back from your repurchase agreement to your checking account.

Benefits of Repurchase Agreements:

  • Money moves automatically between your checking and repurchase agreement account
  • Immediate access to liquidity
  • Fully collateralized by U.S. Government and agency securities

NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html

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