Online Banking

Small Business Cash Management

Anchor Bank is a community bank, which means we are committed to helping local small businesses achieve financial success. Especially in a small business with fewer employees, keeping track of receivables, payables, payroll and other functions can be a challenge. The more efficiently your small business is able to manage these functions early on, the more costs can be controlled and profitability increased as your business continues to grow. That's why Anchor Bank offers a complete line of Cash Management Services to help your small business bank for what’s next.

Debit Card

The BusinessCard gives you the convenience of a business credit card without the finance charges and monthly bills. Unlike a credit card, payments for purchases are automatically deducted from your primary business checking account, so it's a safe and easy way to access funds you need without keeping a lot of cash in your wallet.

How it works for you
Simply present the BusinessCard at the time of purchase. In most cases, you can select the credit (signature) option to make your purchases. You may need to select the ‘credit’ or ‘cancel’ button for this option. Some merchants may require a debit (PIN) for purchases. If this occurs, you simply enter your PIN number to compete the transaction. This PIN is the same four-ditgit code as your ATM PIN. You may use all MoneyPass® ATMs to withdraw cash surcharge-free. MoneyPass has over 22,000 ATMs across the United States. To locate a MoneyPass ATM go to www.moneypass.com. Each transaction will appear on your monthly statement. However, instead of only seeing a check number and amount, when you use the BusinessCard, you see the amount of the transaction and the location where the purchase was made. You can even access up-to-the-minute transaction information via AnchorLink® or AnchorLine®.

Key benefits to your business
• Convenience – The BusinessCard can be used everywhere MasterCard credit cards are accepted. It is faster than writing checks, more convenient than cash, and no need to carry around a checkbook. The BusinessCard can also be used for Internet purchases or to pay bills via the telephone.
• Save money – With a credit card you receive a monthly bill and often have to pay interest charges for using the card. When you use the BusinessCard, the money is deducted from your checking account–no monthly bills or interest to pay.
• Save time – Just “swipe and go” when paying at participating merchants. There's no need to write checks or wait for check approvals. Plus, you won't need to spend time reconciling the petty cash account.
• Better tracking and reporting – The BusinessCard makes it easier to monitor employee spending, identify potential tax deductions, and fill out expense reports. All purchases are itemized on your monthly checking account statement and timely transaction information is available via AnchorLink and AnchorLine. Your statements and reports provide a way to separate business from personal expenses and provide your business with a clear paper trail and documentation.

You can also use your Business Debit Card at any MoneyPass ATM to withdraw cash and make deposits at US Bank ATMs without any surcharges. Locate any of the over 20,000 MoneyPass ATMs across the United States by visiting www.moneypass.com.

Online Banking

Business AnchorLink® is a convenient way for you to access your account information at any time–day or night. As an extension of Anchor Bank's comprehensive business banking solutions, AnchorLink brings all of your account information together on one easy-to-use website.

How it works for you
• Access account information – With AnchorLink, you can access information for all your business accounts quickly and easily. You can check your balances for cleared and available funds and review transactions for the past six months on an account and monitor current day and prior day balances with detail by transaction category (ACH, In-clearings, Over-the-counter, Wires and Transfers). AnchorLink gives you access to high quality images of the front and back of each check at your convenience. Images of your deposit tickets are available as well. Account information can also be exported into other common applications including Quicken®, QuickBooks® or other money management software.
• Manage payments – AnchorLink enables you to manage payments, transfers, and direct debits efficiently and securely. Use the Bill Payment function to pay any business or individual. Just add a payee and schedule one-time or recurring payments with the click of a mouse.
No more stamps, no more checks, no more worries. You can also use AnchorLink to originate Automated Clearing House (ACH) transactions, initiate Wire Transfers and make transfers between accounts. AnchorLink allows you to initiate stop payments online. Enter the date, check number, amount and payee, and then click "Submit". The stop payment will be effective the same business day.
• Speed collections – Receive payments through the ACH network, streamlining your payment processes and eliminating checks. ACH also provides precise control over your cash flow by giving you the ability to specify the settlement date of payments.
• Fraud detection – Reduce risk of fraud by monitoring transaction activity and receiving notifications when there is a potential risk through the use of ACH Filter, Account Reconciliation and Positive Pay capabilities available through AnchorLink.

Key benefits to your business
• Security – AnchorLink was designed with multiple layers of security to protect the privacy and safety of your company's account information. Banking online through AnchorLink is totally secure. We stringently adhere to industry standards regarding security and employ state-of-the-art technology to keep your information confidential. All sensitive information is encrypted and access requires a password known only to the account holder.
• Convenience – AnchorLink offers you access to your accounts 24 hours a day, 7 days a week. You can do your banking from home, work or when you are out of town.

AnchorLink demo

 

Bill Payment

Easy and paperless. Schedule payments at the frequency that you choose and pay your bills automatically.

How it works for you
Your payments are electronically transferred from your Anchor Bank account to a payee’s account through the Automated Clearing House (ACH). If the party you owe is not set up for electronic transfer, a check is sent through the mail. 

AnchorLink® Internet Banking with Bill Payment doesn’t require any special software. And, you can choose the frequency of your payments whether it’s a one-time payment or a regularly scheduled payment, no matter how often it’s paid.

Best of all, you only have to enter the payee’s information once. You can have an unlimited number of payees to whom you can make payments. You can check the status of a payment anytime, which gives you even more control.

Key benefits to you
• Saves time – Pay monthly bills in as little as five minutes and eliminate paper, stamps and envelopes.
• Control over payments – You can choose the frequency of your payments whether it’s a one-time payment or a regularly scheduled payment, no matter how often it’s paid.

Wire Transfer

With Anchor Bank's Wire Transfer service, you can make a same-day transfer of funds from your account to another financial institution. Wire transfers offer safe and secure movement of funds between financial institutions on a real-time basis and with finality of payment.

How it works for you
A wire transfer is the electronic movement of funds from one financial institution to another. A wire transfer provides for immediate, irrevocable availability of funds by eliminating the uncertainties of mail and check collection time.
 

Wire transfers can be initiated online via AnchorLink® Internet Banking. It’s easy to use and lets you predefine payment instructions for repetitive wire transfers. Your authorized personnel can initiate repetitive and non-repetitive wires online via AnchorLink. Based on your instructions, Anchor Bank then transmits your request and wires are processed hourly from 9:00am to 4:00pm Central time each business day. You are also able to monitor incoming wires as they post.
 

Wire transfers allow precise timing of payments and accurate projections of receipts and disbursements and are particularly useful in handling high-dollar transactions. Because wires can be transferred quickly, you are able to maximize the use of funds. Wire transfers can be initiated as needed and Anchor Bank offers multiple security options.

Key benefits to your business
• Reduce errors – Avoid duplication and errors when sending wires to the same accounts by establishing repetitive wires and assigning access for specific users and dollar amounts.
• Fast and final payment option – Unlike many payment options, wire payments provide the fastest delivery of funds and are final. They cannot be recalled without permission of the payee and settlement is guaranteed.
• Increased security – Wire transfers are the most secure and cost-effective method to move large value payments.
• More convenient – Initiate wire transfers electronically from your desktop with flexible options.
• Added control – Avoid duplication and errors when sending wires to the same account. You can establish each user's access to accounts, dollar amounts and repetitive wires.

Connect with a cash management specialist to learn more

Remote Deposit

With Anchor Remote, the bank is never further away than your desk. Anchor Remote lets you make deposits into your bank account electronically without driving to the bank. 

How it works for you.
All you need is an Internet enabled PC with a browser and a check scanner to accept check payments from your customers and vendors. We’ll receive your remote deposit and process the checks by IRD (Image Replacement Document). It's that easy. The result is faster deposits and incredible convenience for you and your business.

Key benefits to your business
• Convenience – Eliminate daily trips to the bank by making deposits any time you want – day or night – directly from your PC.
• Efficiency – Save time and money by reducing trips to the bank. In addition, labor-intensive manual deposit preparation time is eliminated, and research time and your storage needs are reduced through the use of the stored digital images.
• Cash flow – Typically, funds from deposited checks are not available to your business until those checks have cleared, which can take anywhere from 2-5 business days. By making more regular deposits, your transactions may be processed more quickly, making your funds available sooner.

 

Merchant Card Services

Today's consumers want options. Make it easy for them to pay for your products and services by accepting card payments. Anchor Bank's Merchant Card Services enable you to expand your customers' payment options, simplify your business operations and increase revenue.

Whether you run a retail store front, have an online store, operate a mail order or telephone order business, or sell to other businesses, Anchor Bank's Merchant Card Services provides your business an easy way to accept credit cards, debit cards, gift cards, and other payment options.

How it works for you
• Authorization – The cardholder pays for the purchase and the merchant submits the transaction to the acquirer. The acquirer verifies almost instantly with the issuer that the card number and transaction amount are both valid, and then processes the transaction for the cardholder.
• Batching – After the transaction is authorized it is then stored in a batch, which the merchant sends to the acquirer later to receive payment (usually at the end of the day).
• Clearing and settlement – The acquirer sends the transactions in the batch through the card association, which debits the issuers for payment and credits the acquirer. In effect, the issuers pay the acquirer for the transactions.
• Funding – Once the acquirer has been paid, the merchant receives payment. The amount the merchant receives is equal to the transaction amount.
• Statement and billing – At the end of each month, transaction data is compiled and fees come out in one lump sum on or around the 2nd business day of the month for the previous month's activity. A detailed statement of the previous month's activity is delivered around the 10th of each month.

Key benefits to your business
Regardless of your business's size or industry, there are many benefits in having the ability to process credit card transactions.
• Expand payment options – By accepting multiple forms of payment, you give your customers options and improve their shopping experience.
• Simplify business operations – As a merchant, card acceptance allows you to reduce overhead by eliminating many of the accounting, collection and paper work activities associated with your cash and check receivables. 
• Increase revenue – In addition, card processing is an efficient, convenient payment solution that helps you improve cash flow by ensuring timely, automatic deposits to your account. In addition, value-added services, like gift card, check services and prepaid card programs can provide a new channel for generating profits and increasing your revenue.
• Online reporting and support tools – A web-based transaction reporting system is provided that helps merchants manage their credit card acceptance. The reporting solution offers easy, online access to a comprehensive selection of reports 24 hours a day, seven days a week. This convenient online site allows you to display transaction history, authorizations, chargebacks, ACH history, your merchant statement and much more.
• Customer service and voice authorization – Customer support is available whenever you need it. A dedicated and well-trained staff of service professionals operates a 24/7 call center for voice authorization and client assistance. In addition, Higher Standards offers a local service number Monday through Friday during regular business hours.

ACH Origination

ACH (Automated Clearing House) origination lets you electronically send and collect payments through the ACH network, streamlining your payment processes and eliminating checks. ACH also provides precise control over your cash flow by giving you the ability to specify the settlement date of remittances and payments. We make it easy and affordable for your business to use ACH.

How it works for you
• You will need a Windows-based operating system and Internet access.
• We train your staff on how to use our system, and provide on-going support.
• Once you enter your payment information into the system, you can generate a formatted file to process and batch your transactions. You can save a specific batch and reuse it, which improves efficiency and reduces keying errors.

Key benefits to your business
• Increase efficiency – Using a single access point for payments and funds transfers can dramatically increase the efficiency of your operations. Storing payment information eliminates manual data entry and allows you to streamline recurring batch processing.
• Reduce costs and risks – By eliminating paper checks, you can significantly reduce costs while minimizing the errors that can occur when you manually process checks. Using electronic payments decreases the risk of check fraud and lost checks.
• Improved forecasting and cash flow – ACH Origination helps you gain greater control over your cash flow by specifying settlement dates for payments and remittances. In addition, you receive a complete record of transactions for a precise audit trail.

 

ACH Filter

We offer a way to protect your business from ACH fraud. The ACH Filter allows you to define acceptable ACH debits and credits to clear your business accounts.

How it works for you
• An ACH Filter gives you control and helps protect against unauthorized or erroneous ACH entries. You can set various criteria to authorize some ACH debits and/or credits to post to your account. If any items do not match the filter data, we provide that information to you early in the day so that you can determine whether to honor or return the ACH items. Exception processing also permits unresolved items to be returned unless the bank is notified.

• Anchor Bank’s ACH Filter services are available directly through AnchorLink® Internet Banking – allowing you to quickly and easily review items to determine whether they have been issued by your company or are fraudulent. With the click of your mouse, you can then direct us to return any unauthorized items.

Key benefits to your business
• No manual account monitoring – ACH Filter stops and automatically returns unauthorized ACH transactions to you.
• Preventative protection – ACH Filter protects your business from loss by preventing unauthorized ACH transactions on your account.

 

Positive Pay

Anchor Bank's Positive Pay service quickly identifies possible fraudulent checks to help safeguard your company. Positive Pay is an automated check matching service that compares checks presented for payment with checks you've issued, giving you the chance to review any checks that don't match to your issued file and make the decision to pay or not.

How it works for you
Each time your accounts payable system generates checks, you transmit a checks-issued file to Anchor Bank. We compare your issued check data to our daily paid check file to ensure that all checks presented for payment have been authorized and are presented for the correct amount. If any items do not match the issue data, we provide that information to you early in the day so that you can determine whether to honor or return the items. Exception processing also permits unresolved items to be returned unless the bank is notified.

Key benefits to your business
• Reduce exposure to fraud – Identify unauthorized transactions, including counterfeit or altered checks, before final payment.
• Quick and easy to use – With AnchorLink you can view images of your Positive Pay exceptions online and decide which ones should be paid.
• Easy file upload – Use the upload feature available through AnchorLink®.
• Save time and money – By significantly reducing the potential for check fraud, Positive Pay can save you time, effort, and real dollars.