Controlled Disbursements
Bank of Oklahoma's Controlled Disbursement service provides your cash manager the resources to fully utilize your company's funds. Forecasting check clearings and providing extra cash as a buffer will no longer be necessary. The Controlled Disbursement system exactly matches the daily funding disbursements with the day these checks are presented for payment, freeing up excess funds. Funding options are numerous and a full range of account reconciliation services are available.
Benefits
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By 8:00 a.m. CST each day, the exact dollar amount of the checks presented for payment that day is available via NetConnect, our information reporting service. Bank balances, previously maintained because of the uncertainty of when checks clear are now available for reducing short-term borrowings and/or increasing purchases or investments.
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Options for funding this account include wire transfers, ACH funding, advance from a line of credit, zero balance account or a transfer between accounts at Bank of Oklahoma.
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With a zero balance structure of accounts, the disbursement account automatically funds from the master concentration account. No further manual transfers are required.
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