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At Lowell Five, we understand how to help businesses succeed. That's why we offer a variety of innovative products and services to help simplify your finances.
ACH/Cash Concentration Cash Concentration simply uses ACH origination to transfer funds between another bank and your Lowell Five account. This can be used to increase cash flow by automatically debiting consumer accounts. You are responsible for directing the transfer of funds. This feature is available through BusinessCommand online banking.
Positive Pay Positive Pay requires your company to send a file of issued checks to the bank as checks are written. When the issued checks are presented for payment at the bank, they are compared electronically against the list of transmitted checks. When a check is presented that does not match the file, it becomes an exception item. This product is especially useful for municipalities or companies with high check writing volume.
Zero Balance Accounts With this type of account, a "zero balance" is maintained by automatically transferring funds from one or a series of checking accounts into a master checking account. This feature helps to establish and track deposit activity for businesses with multiple locations. The account can also be set-up to do the opposite by setting target balances on each separate account to draw from the main operating account.
Escrow Accounts Ideal for property management companies, Escrow Accounts allow the rent lease deposit account for each tenant to be listed in a combined statement with one main operating account. Lowell Five can provide customized reports and set up automatic check allotments for interest disbursements. However, this is not intended to replace existing rent lease deposit accounts. A minimum of ten separate tenant accounts is needed to set up this product.
Merchant Services Lowell Five can provide merchant services to your business by allowing you to accept MasterCard, Visa, and Discover/Novus Card sales. Our merchant fees are very competitive and equipment sales and lease programs are available. For more information, please contact Laura Rocha at 978.957.4343.
Payroll Services Lowell Five in partnership with PayChoice offers a suite of payroll solutions for businesses of all sizes. For more information click here.
Telephone Banking Click here for more information on our telephone banking system.
Lowell Five also offers additional business services including: Night Deposit, Wire Transfers and Business Debit Cards.
To learn more about how these products and others can help your business, contact a member of our Business Development Team.
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