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Controlled Disbursement provides same day check clearing information to help determine your daily cash position.
First Midwest Bank’s Controlled Disbursement service provides the total amount of inclearing checks that have been presented against the Controlled Disbursement Account (an account used for check disbursement only) on an intraday basis. This service is essential to the accurate forecasting of daily cash outflow. Inclearing check information is particularly important to companies with aggressive investment agendas that need to work their surplus cash while maintaining a reserve to fund disbursements.
Controlled Disbursement enhances your ability to make the most productive and profitable use of your company’s cash resources. You gain greater control over cash flow and eliminate idle balances.
The Advantages
Maximize Cash Resources: Notification of inclearings allows you to invest, pay down debt or meet other obligations.
Eliminate Guesswork: You can eliminate the "guesswork" of funding which minimizes overdrafts or idle balance situations.
How it Works
1. Each morning First Midwest Bank receives information electronically from the Federal Reserve Bank identifying the inclearing checks that will be presented for payment on your account that evening.
2. First Midwest Bank memo posts the items to your account. The items can then be viewed via FMB's Internet-based information reporting service to make your daily funding decisions.
Contact a Cash Manager
Return to Disbursement
Positive Pay
Direct Deposit
Controlled Disbursement
Zero Balance Account
Business Checking Account
Business Checking With Interest
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