First Southern Bank offers Account Analysis as an account option for business customers who, by federal regulation, cannot utilize an interest bearing checking account. With Account Analysis, customers can earn credit value for the collected balances kept in their checking account. Depending on the balance, it can offset some, if not all, of the service charges that would normally be applied to the account. Our Cash Management team can model an existing relationship and determine the amount of collected balances necessary to offset any service charges in the account.
Cash Management Services and some standard banking fees can be analyzed.
- Property Management Lockbox
- Wire Transfer
- Stop Payments
- Deposited Return Items
- ACH Credits & Debits
- Checks Paid, Deposits Credited, and Items Deposited
- Deposit Error Corrections
- Positive Pay
- Target Balance Accounting
- Remote Deposit Capture
Account Analysis Definitions
- Analysis is a systemic review of activity and balances of an account(s) for the purpose of calculating service charges. It is designed to save business customers money by offsetting service fees with balances.
- Earnings Credit is an allowance that is earned on account balances that can be used to help offset many service fees. Increases or decreases in this rate are based on either changes with the 91-Day Treasury Bill rate or the targeted Federal Funds rate.
How Account Analysis Works
- It tracks the funds you have on deposit with First Southern Bank and the number and types of services you use with the Bank.
- It is a financial tool that can help you manage corporate funds more productively.
- Accounts may be linked or grouped together to take advantage of combined account balances .
- An Earnings Credit on collected funds is designed to offset service fees.
- The Earnings Credit rate is subject to change monthly.
- Earnings Credit Calculation =
Investible Balance for Earnings Credit
x Earnings Credit Rate x # Days in Month
Contact your Cash Management Representative for more information.