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| Augusta Eastern Avenue Branch |
| We now offer Investments & Insurance Services. |
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Savings Bank of Maine offers a wide range of cash management services tailored to fit your business needs. The following are some of our most popular offerings.
For additional information about our Cash Management Services, contact us, or call us at 582-5550 (1-888-424-4184, if Gardiner is a toll call) or stop by one of our branch locations.
| Through your own computer, you can access your accounts at any time to check balances, verify transactions or do reconcilements. This easy access provides you with timely accuracy for forecasting and decision-making. |
| This service is the fastest, most efficient method for transferring money from one bank to another. Transfers improve your security and allow for immediate use of collected funds at another institution. |
| Companies can collect payments electronically through the Automated Clearing House (ACH). This service allows companies that obtain the prior approval of their customers to automatically debit their customers checking or savings accounts in order to obtain payment. |
| Rather than hassle with the storage of your canceled checks, we provide you with copies of your canceled checks on three-hole punch paper for easy retention and filing. |
| Funds may be transferred between any of your Savings Bank of Maine accounts anytime, day or night. |
| Through the Automated Clearing House (ACH), Savings Bank of Maine offers this service to give companies with multiple outlets the ability to accumulate funds rapidly. Each outlet is able to make deposits in a local bank, and with the use of the ACH network, it will credit your concentration account for use of the funds the next day. Cash Concentration Service reduces the clerical functions and costs associated with funds gathering, and accelerates the collectability and availability of your money. |
| A stop payment order may be originated at any time. |
| Using the Electronic Federal Tax Payment System (EFTPS) or the individual state payment systems, companies can make payroll and estimated income tax deposits quickly and efficiently. |
| These sweep checking accounts are zero balance accounts. At the close of each business day, monies from your *Repurchase Agreement are transferred to the sweep checking account to cover payments. Excess funds in the sweep checking account are transferred to the Repurchase Agreement.
*Repurchase Agreements are not deposits and therefore are not federally insured by the U.S. Government, the FDIC, the Federal Reserve Board, or any other Government Agency. Savings Bank of Maine does secure funds placed into Repurchase Agreements with the Bank’s own securities portfolio which is segregated (externally and internally) specifically for Repurchase Agreement customers. |
| This service, which also uses the Automated Clearing House (ACH), allows your company to quickly and efficiently transfer funds into an employee’s checking or savings account, no matter where they bank in the U.S. This provides significant time and cost savings and eliminates the preparation and processing of checks. Direct deposit also strengthens your company’s cash forecasting ability by minimizing the risk of lost, stolen or forged checks. |
| Make your deposit at your convenience anytime – days, nights or weekends. |
| Use Savings Bank of Maine's 24 Hour Customer Service by Phone, during the day or night to get balance information, transfer funds or fax a current statement. Please call 588-2264 or 1-800-596-4300. |
| We will deliver and set-up your Visa/MasterCard program, giving you faster access to income from your sales. We can also accommodate your business corporate card needs. For more information, click on Card Services. |
This is for businesses that want their electronic statements to include the images. We have a separate service for e-mailing statements for which there is a one-time setup fee for each account. |
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