Cash Management Services

Our continually expanding Cash Management services provide advanced banking solutions that allow you to increase the efficiency of your day-to-day operations while reducing your expenses.  Stay in control of your money with tools such as Deposit Xpress, ACH, Lockbox Service, Zero Balance Account, Overnight Investment Services and more.

Let Bank Rhode Island help you control your cash flow. 

Our cash management team will answer all of your questions and develop a customized program to fit your business goals.  

Cash Management Online Banking

Our web-based platform is designed to provide business owners with a secure and convenient channel for conducting business over the internet from any location. This service provides:

  • Online ACH Origination with NACHA file import
  • Online Wire Initiation (domestic/foreign & foreign currency)
  • Transfer to/from multiple accounts in a single transaction
  • On screen check images
  • Balance, transaction and information reporting
  • Online Positive Pay
  • Unique user permission with dual control for transactions and approvals
  • Stop Payments
  • Balance and Transaction Alerts

Deposit XPress

Save time and money and improve your cash flow with our Deposit XPress Service. This convenient web based service allows you to securely make check deposits directly from your office, anytime day or night.  All you need is a desktop scanner, a PC, and an Internet connection.  

Merchant Services

Leverage state-of-the art solutions to handle all of your non-cash payment needs, including credit, debit and gift card programs.   

Online Payment Portal

Accept customer, tenant or donor payments right from your website with our flexible online payment portal.  

Positive Pay

An automated fraud detection tool that reduces fraudulent check transactions by alerting you to checks presented for payment that do not match those that you have issued.

BankRI Debit BusinessCard®

Take advantage of a convenient and easy way to make purchases and bank with the Bank Rhode Island Debit MasterCard. This free card allows you to:

  • Bank at more than 50 ATMs throughout Rhode Island.
  • Get cash at thousands of locations worldwide.
  • Make purchases at millions of merchants worldwide.
  • Track spending more easily. 

Lockbox

This service assists your accounts receivable department by depositing payments directly into your account.  Checks are sent to a post office box where each item is reviewed and processed in accordance with pre-arranged instructions.  Deposits are made quickly and all documents and images are available online.  An electronic file is also available.

Account Reconciliation Programs

Balance and manage your accounts more easily and efficiently with our array of reconciliation services which include:

Paid Output file – download/export a file of check paid information that can be used on your accounts payable software.  The file can be created using a date range and in a variety of formats.

Full Reconciliation - produces an outstanding list of checks paid, matched against your check issue file.

Positive Pay - assists in mitigating check fraud by validating check numbers and amounts against your check issue file.

Reverse Positive Pay – allows you to review all checks being paid over a selected dollar amount.

CD-ROM - This service provides images of paid checks on a CD-ROM each month.

Overnight Investment

A "sweep account" offers you the benefit of automatically earning interest on idle funds in your checking account or reducing interest expense on your line of credit facility. Balances in excess of a target balance -- an amount you wish to maintain in your checking account -- are automatically swept on a nightly basis to/from an interest bearing investment account, or to/from your line of credit.  And, your funds remain fully accessible to you.

For businesses utilizing lines of credit, our daily sweep account can automatically take excess cash and apply it as a reduction of borrowings to lower the interest costs.

Please note that the investment account:

  • Is NOT FDIC Insured
  • May Lose Value
  • Has no bank guarantee

Zero Balance Account

This is a cost-effective way to concentrate deposits and eliminate manual transfers.  If you require separate sub-account(s) for payroll, individual locations, projects, etc., but don’t want the hassle of moving funds back and forth, a Zero Balance Account could be the solution. After a target balance level is established for each account, funds are automatically swept in or out of the master account at the end of each business day.

Get Started Today!

Contact Dan Hartnett at (401) 574-1544 or a member of our Cash Management Team to set up an appointment or for more detailed information about our Cash Management Services.