February 24, 2023


Business Banking

Five Banking Services That Every Business Should Take Advantage Of

Five Banking Services That Every Business Should Take Advantage Of

It’s no secret that being a business owner can be both exciting and stressful. We often hear that banking and accounting tie for the least favorite part of owning a business. It can be overwhelming and cumbersome, especially at year-end.

Deerwood Bank has developed Treasury Management services for our business customers that are Nice & Simple. These services are aimed at simplifying business banking and improving efficiencies.

What are “Treasury Management” services?

Treasury Management services at Deerwood Bank are services that help our business customers streamline their finances. These services optimize cash flow, minimize risk, and improve efficiencies and security.

Wikipedia defines it like this: Treasury Management (or treasury operations) includes management of an enterprise’s holdings, with the ultimate goal of managing the firm’s liquidity and mitigating its operational, financial and reputational risk. Treasury Management includes a firm’s collections, disbursements, concentration, investment and funding activities. In larger firms, it may also include financial risk management.

What are the ‘must have’ Treasury Management services?

Deerwood Bank has a full suite of Treasury Management services for our business customers.

Here are five of the top services in our suite:

  • ACH Origination
    ACH origination allows you to quickly, easily, and electronically send or receive payments for things like payroll, tax payments, vendor payments, and recurring debits. This allows you to eliminate the cost and hassle associated with paper checks, and can help with your business’ cash flow. If you are using ACH services, don’t forget about checking into our ACH Fraud Filter tool!
  • Check Positive Pay
    Check Positive Pay saves you from the hassle that arises when forged or altered checks clear against your bank account. Deerwood Bank’s Check Positive Pay makes it easy for you to protect your account against check fraud. No matter how big or small your business is, if you use checks, you will benefit from the security that Check Positive Pay offers.
  • Business Credit Cards
    Make your credit cards work for your business. Choose a card that maximizes what you need it for – whether it be travel points, carrying a no-interest balance, or earning points. Your credit should work for you, not against you.
  • Merchant Card Processing
    In this day and age, most businesses need to offer their customers the option of paying via credit card. Deerwood’s Merchant Card Processing makes this process Nice & Simple. We partner with a leading provider to give our business customers options for processing credit cards, ranging from traditional paper processing to point-of-sales operations to more advanced electronic data capture.
  • Remote Deposit
    It’s exactly what it sounds like: Deerwood Bank’s remote deposit feature allows you to deposit checks from anywhere with an internet connection. Instead of tying up company time and resources to physically deliver paper checks, you can simply scan checks or submit check images – all on your own time.

These Treasury Management services have various benefits for businesses of any size:

  • Improved control
  • Potential cost savings
  • Increased efficiency
  • Greater security

It’s time to maximize your efficiencies and take control of your business accounts with these Treasury Management services. Whether you already have your business accounts at Deerwood Bank or are ready to move them to Deerwood, call or email one of our Business Banking experts for more information about these and other Treasury Management services offered at Deerwood Bank.

John Ohlin close up

John Ohlin

Office: 218.316.3505
Email: john.ohlin@deerwoodbank.com

John Ohlin is the President and CEO of Deerwood Bank. He has been with Deerwood since 2004 and is based out of the Baxter office. John graduated from Gustavus Adolphus College with a bachelor’s degree in finance. He then went on to graduate from the ABA Stonier Graduate School of Banking in 2007. In his spare time John enjoys travelling with his wife and playing golf at the nearest course.

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