Payable Solutions

Your cash has many uses – meeting payroll, paying vendors, and even earning more cash. Solid cash management depends on these things happening predictably, safely and securely within your company's daily objectives and long-term strategy. Our offerings enable your business to manage payables effectively. 

Wire Transfer Services1

Wire Transfers are the fastest way to electronically send and receive funds on a same-day basis. Our service can be accessed via a telephone or personal computer and can move your company's funds virtually anywhere in the world for same day use. Unlike large dollar check transactions that might have delayed availability, your funds are available the same business day.

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Account Reconciliation Services

Reduce the amount of time you spend balancing your business checking account. The manual reconciliation of business checking accounts can be a time-consuming task, especially for companies with large-volume accounts. By selecting the First Midwest Bank plan that meets your needs, you can eliminate the sorting, matching and reconciling of paid checks.

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Controlled Disbursement

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. 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. Essential to the accurate forecasting of daily cash outflow, Controlled Disbursement enhances your ability to make the most productive and profitable use of your company's cash resources by giving you greater control over cash flow and eliminating idle balances.

  • Gain greater control and forecasting ability with timely and accurate information;
  • Maximize investment income as you only pay what is needed for that specific day;
  • Minimize the cost of borrowing through cash flow management; and
  • Increased efficiency as clearing notifications are provided early each morning.

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Direct Deposit

Save time and money by electronically depositing your employees' paychecks into their bank accounts. First Midwest Bank's Direct Deposit service offers you a safe, convenient method for eliminating the time-consuming and costly paperwork associated with paying your employees by check. Direct Deposit will electronically deposit each of your employees' net pay into a checking or savings account at the financial institution of their choice.

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Positive Pay

Gain peace of mind and added security by reducing your exposure to check fraud. Each time your company issues a check, it is exposed to possible fraudulent checking activity. From the time a check leaves your desk to the time it posts to your account, any number of things can happen to it. It may be lost, stolen, altered or forged. To manage your exposure to this type of risk, we offer Positive Pay. With Positive Pay, First Midwest will only pay on the checks you have authorized and will bring to your attention any checks that you have not authorized – before they have a chance to clear through your account.

  • Tighten security by monitoring all of your check clearing activity;
  • Greater convenience as all unauthorized checks or "suspects" received by First Midwest are brought to your attention; and
  • Improve cash flow forecasting due to reduced likelihood of fraud.

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Get Connected

Connect with a Treasury Management Officer to add a little momentum to your business today.

Kristen Saranteas

You Have Plans. We Have Ideas.
Treasury Management
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