The focus of Commercial Banking is to provide premium service to meet the needs of small and medium sized commercial, industrial, and professional businesses. We provide clients with custom-tailored strategies to help them exceed their financial objectives. Our commitment is to build lifetime relationships, to provide an exceptional level of service, and to take into consideration each client’s individuality and distinct needs. Our Commercial Banking offerings are complete, creative, and flexible solutions enabling our clients to grow their business, and pursue new opportunities.

Business NetBanking

A complete, secure on-line access to business accounts 24 hours a day, Business NetBanking helps clients manage their bank balance and cash position, verify bank activity, initiate transactions and reconcile accounts. Complete access to account information and reporting optimizes cash flow, improves control and enhances overall productivity.

The PrivateBank Sweep

Funds that exceed a predetermined level are automatically transferred into an interest earning account, at the close of each business day. The following business day, balances and interest are then returned to the main account. This allows for the maximum interest income with minimum amount of personal intervention.

Cash Concentration Services

Electronically consolidates funds from multiple locations to a single concentration account. These services offer both the convenience of maintaining local depository accounts and the benefit of consolidating funds at The PrivateBank. The end result is better control of cash management forecasting, better control over multiple accounts as well as reduced operating expenses

Zero Balance Accounts

Zero Balance Accounts (ZBAs) offer centralized control over all disbursing activity while allowing individual divisions, profit centers and other financial units to disburse funds. ZBAs eliminate the need for manual transfers and are funded automatically from the master account only to the extent necessary to cover checks cleared. ZBAs allow a business to concentrate funds, making them available for investment and eliminating idle balances in disbursement accounts. ZBAs eliminate the need to transfer funds between accounts, reduce risk of overdrafts, provide account control and enhance control of idle funds.

ACH Processing

Automated Clearinghouse (ACH) transactions offer a secure, efficient, and economical method of transferring funds from one bank to another for the purpose of facilitating the payment of demand drafts, checks and other financial instruments. ACH services also allow the attachment of an information or addenda record to specific transactions. ACH transactions have a settlement date that determines the actual debit/credit date. ACH payments are more cost-effective than checks, provide improved cash flow efficiency and reduce the occurrence of check fraud. In addition, ACH allows precise forecasting of cash availability and enables compliance with state and federal tax mandates.

Private Deposit

Using scanner technology, check images are captured at client locations and deposit data is electronically delivered to the bank for processing. PrivateDeposit can accelerate the clearing of items and increase accuracy, while reducing payment-processing labor and the need to courier or personally deliver deposits. Transmissions can occur throughout the day, making funds available sooner and mitigating exposure to fraud.

Lockbox Services

Clients are instructed to remit payments to a unique zip code used only for lock box mail. Deposits are retrieved, processed and credited directly to the client’s account eliminating additional processing steps at the client’s office, the post office, and the bank. By reducing mail, processing, and collection time, client’s benefit from increased access to funds, reduced administrative expenses, and reliable audit trails. Accelerated access to receivables data allows clients to expedite credit or shipping decisions.

CD-ROM Check Imaging

Checks are scanned and electronically stored on CD ROM. Eliminates the need to physically store, access on microfilm, or serial sort checks. Provides easy search and fast retrieval of check image. Provides time and cost savings, eliminates physical check storage, improves productivity, and enhances customer service.

Direct Deposit

Payroll funds are automatically credited to employee checking or savings accounts using electronic funds transfers. Funds transferred via electronic communication, reduce paperwork and move money efficiently and inexpensively. Direct deposit will improve productivity and cash management as well as enhance security by eliminating the risk of lost or stolen paychecks.

Prepaid Debit Card (Stored Value Payroll Card)

Payroll cards are a cost effective alternative to printing, cutting, and mailing paper payroll checks. The payroll card is reloaded with the value of the employee's wages, allowing the cardholder to use the card at ATM or POS terminals.

Merchant Credit Card Processing

A strong relationship with a third party provider allows superior service to merchant credit card clients. The PrivateBank has an assigned account representative for merchant credit card clients, which allows for more personalized service.

Fraud Protection Tools

We provide the following tools to protect clients against fraud: Positive pay, reverse positive pay, ACH debit block filter, Internet protocol identification, Secure Sign-on, and random security code access. Although there is no foolproof solution to fraud, we provide the best tools available today.