What Types of Business Banking Services Do Banks Offer?

With the advent of the Internet and e-commerce, businesses are in more need of banking services than ever before. Learn what types of banking services banks, such as Century Next Bank, can offer below to businesses to help them manage their finances and handle their monetary cash flows.

Cash Management

Businesses need to be able to manage their cash flows quickly; thus, they need to do this electronically through computers and mobile devices. One of the banking services that most banks, including Century Next Bank in Monroe, LA, provide is Automated Clearing House (ACH) services that enable business clients to electronically debit their expenses and credit their revenues from the accounts of other businesses or people.

Employee Payroll

Another of the critical banking services in Monroe, LA, that most businesses need is employee payroll. Nowadays, it is much more convenient and environmentally conscious to electronically deposit payments to employees via direct deposit to their bank accounts, enabling them to access their funds immediately, compared to paper checks coming in the mail.

Eliminating the need to receive and cash paper checks not only saves time for the business and its employees but also cuts the cost of check printing and postage needed to send out traditional paper checks to employees.

EFTPS (Electronic Federal Tax Payment System)

In addition to making it easier to pay its employees via direct deposit, it is also easier for businesses to submit their tax payments to the Internal Revenue Service (IRS), state, and local governments. The electronic payment is instantaneous, ensuring that the relevant government agencies get the money owed to them and ensuring that the business is in immediate compliance when it comes to its tax payments.

Century Next Bank in Monroe, LA, offers these banking services and more. Contact them today for more information!

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