Paying your Vendors
The world is no longer changing, it has changed. The days of getting your bills in the mail, writing a check and sticking it in an envelope are almost over. Vendors often offer discounts for early payment and cash flows need to be more consistent to better management liquidity. In today’s world, there is no faster or more consistent way to pay than electronically.
First Bank of the Palm Beaches is a place where the treasured values of our American past meet the conveniences and demand for technology of the modern world. Our Business Bill Pay product is state of the art while our bankers understand the benefits and the pitfalls associated with the various methods of paying your bills and doing your banking electronically. Get the benefits associated with our technology, but get the wisdom of our experience and let us help you navigate your business banking.
First Bank’s payment solutions include: conventional checks, credit cards, ACH payments, wire transfers, and these payments can easily be managed through our online banking and business bill pay products. The products make payments convenient, but use of those products is mingled with phone calls to verify outgoing payments and bankers who are available to answer any questions you may have.
Here are some things that you should know. Paying the bills in your business is a process that a business owner should control or be aware of. First Bank’s cash management solution allows dual control over the disbursement process however. Have your office manager setup payees and send off payments, but keep the ability to review those payments and approve them before going out.