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At a Glance: Chesapeake Bank’s cash management tools include business online banking, free online bill pay, ACH and EDI payments, domestic and international wires, Remote Deposit Capture, Lockbox, and payroll services. Positive Pay screens both check and ACH activity for fraud, and CheckSync feeds issued checks into it automatically from QuickBooks Online or Xero.
Improved cash flow for the win
Your business requires your attention, we’re here to help you manage your money on time, and wherever you need to. We’ve got you covered with the digital services you need and the peace of mind that comes with having someone ready to help you when you need it, whether it’s figuring out what services will help you out, or you just want a chat.
Treasury Management Tools for Virginia Businesses
Chesapeake Bank offers eight cash management services. Most businesses start with online banking and bill pay, add Positive Pay once they are writing checks in volume, and layer on Remote Deposit Capture or Lockbox as the number of incoming payments grows.
| Tool | What It Does | Best Suited For |
|---|---|---|
| Business Online Banking | View transactions, move funds, manage users, deposit checks, run reporting | Every business account |
| Online Bill Pay | One-time or recurring vendor payments; the bank mails a physical check where needed | Paying vendors without writing checks by hand |
| Positive Pay | Screens checks and ACH debits against what the business authorized | Any business exposed to check or ACH fraud |
| CheckSync | Populates issued checks into Positive Pay from QuickBooks Online or Xero | Businesses already using QuickBooks Online or Xero |
| ACH Services | Scheduled payments to employees and vendors, including EDI | Recurring payroll and vendor runs |
| Wires | Domestic and international wires sent from online banking | High-value or time-sensitive payments |
| Remote Deposit Capture | Scan checks at your own desk instead of visiting a branch | Businesses receiving checks in volume |
| Lockbox | The bank collects, processes and deposits checks from a dedicated PO Box | High volumes of mailed customer payments |
| Payroll Services | Direct deposit with employee self-service | Businesses running payroll in-house |
Not sure which combination fits? A Business Relationship Officer can look at how money currently moves through your business and recommend a starting point.
Business Online Banking
Fit banking into your schedule, anytime, anywhere.
With Business online banking you can access up to date transactions, move funds, manage your own users, deposit checks, and access your digital debit card. Get more in-depth reporting directly from your online banking or download your transaction history to upload it into whatever accounting software you’re using. Everything* you can do on a computer is also available on your phone via the mobile app.
*you can only deposit checks from your mobile device.
Get the ChesBank Mobile app.
Online Bill Pay
Stuck with a vendor who can’t accept an electronic payment? Happens. Forget about stamps and envelopes, set up onetime or recurring payments to your vendors, and let us take care of putting the check in the mail.
LET’S GET YOU STARTED WITH ONLINE BILL PAY.
Our online bill pay is free for all Chesapeake Bank business checking account holders and it’s available via our online banking platform.
To get started, all you need to do is log in to your online banking dashboard. Create a new payee for each bill you need to handle. You’ll need to fill in some details to save the payee to your dashboard. Once that’s done, you’re good to go. Send or schedule payments whenever you want. You can even add comments to each payment.
Positive Pay
Fraud is a fact of life, no matter what you do to protect yourself, there is always a chance that someone is going to try to get their hands on your funds. Positive Pay prevents fraud (both ACH and Check) from affecting your cashflow.
Use it your way:
- If you never write a check, make sure you protect yourself by making sure any check is flagged when it attempts to come through.
- Set ACH thresholds so that your bills can go through without you having to think about it, and prevent surprises
- Manually approve every transaction that is paid from your account (other banks call this “Reverse Positive Pay” and charge you extra)
Using QuickBooks Online or Xero?
CheckSync: Automatic Positive Pay for QuickBooks Online and Xero
CheckSync connects your accounting software to Positive Pay. Connect them once and the checks you issue populate in Positive Pay automatically, so you are not entering them a second time by hand.
- Connect your accounting software — QuickBooks Online or Xero — to Chesapeake Bank online banking.
- Issue checks as normal. Each one populates in Positive Pay without any extra step.
- Review only the exceptions. Positive Pay flags anything presented that does not match what you issued, and holds it for your decision.
- Save time
- Reduce risk
- Easy setup
ACH Services
Paying electronically isn’t just about going green, ACH is a secure way to pay your vendors and employees without having to risk putting your account number in a mailbox.
With ACH you can schedule payments for today, tomorrow, or another future date that suits your needs. Reliably send and receive payments whether you’re dealing with individuals, businesses, or even Uncle Sam.
Have vendors asking for EDI payments? We’ve simplified the setup of detailed addenda – helping your payments go out correctly without unnecessary work.
Give us a call at 877-695-8239 or drop by your local branch. We’d love to show you how ACH and EDI payments can make your life a whole lot easier.
Wires
Sometimes your business requires a wire, we’ve got you covered. Send domestic or internationally direct from online banking with all the safeguards you can ask for.
If your business requires you to send multiple wires a day, ask us how you can do it all on one screen.
Remote Deposit Capture
Getting a stack of checks in the mail still? Scanning from the comfort of your desk to whatever account necessary will save you a trip to the bank and give you easy access to reporting. You will never have to guess if you deposited that check from that customer ever again.
Lockbox
If you’re receiving more checks than you can handle, let us handle it for you. Lockbox frees up your time by having the bank collect checks from a dedicated PO Box, process them and deposit them directly into your account. You’ll have access to all to the reports once we’ve done the work.
Payroll Services
Make payday easier for your team with direct deposit, employee self-service capabilities, and more.
For questions about Payroll services, please reach out to your local business relationship officer or call 877-695-8239.
Contact Us
We’d love to hear from you. Please fill out the form below and we will be in touch.
FAQs - Frequently Asked Questions
Q: What is the difference between CheckSync and Positive Pay?
A: Positive Pay is the fraud service: it matches checks and ACH debits presented against your account to what you authorized. CheckSync is the integration that feeds your issued checks into Positive Pay automatically from QuickBooks Online or Xero, so you skip manual entry.
Q: How does Remote Deposit Capture speed up business deposits?
A: Remote Deposit Capture lets a business scan checks from its own desk instead of driving them to a branch. Deposits are made on site, and the service includes reporting so you can see what has been deposited.
Q: Is business online bill pay free at Chesapeake Bank?
A: Yes. Online Bill Pay is free for all Chesapeake Bank business checking account holders. You can set up one-time or recurring vendor payments, and the bank mails the physical check when a vendor cannot accept an electronic payment.
