Pub. 1 2011-2012 Issue 1

27 Does the bank have the products and services you need to be suc- cessful and do they help you effectively use these services? High tech services save time and money and are essential these days in helping businesses review their cash flow in real time. Often new banking technology may be put into place, but business owners or the end user will receive very little training. Some people don’t mind reading instructions and trying new technology on their own, but if you’re not one of them, don’t be afraid to ask your banker for an in-person visit to ensure you are effectively using all of the products and services that make sense for your business. Some banks will even provide a dedicated technical team that provides personal on-site training. SEEK OUT A BANKING PARTNER THAT OFFERS THE FOLLOWING ONLINE CASH MANAGEMENT SERVICES: • Electronic Statements and Business Bill Pay – Online bill paying eliminates the risk of bank statements getting lost in the mail (or on your desk). Customers can view new monthly statements and pay multiple bills online, thus avoiding late and interest fees. • Sophisticated and Safe Automated Clearing House (ACH) Payroll and wire services. • Remote Deposit Capture – Ideal for busy business managers, remote deposit capture provides the ability to scan checks and issue deposits electronically without ever leaving their desks. WHAT SPECIAL SERVICES DOES THE BANK PROVIDE FOR EXTRA SECURITY, STABILITY AND OPTIONS? Choose a bank with today’s optional cash management services including: • Sweep Accounts – A cash management service for commercial checking accounts that automatically moves cash into more advantageous scenarios for the customer with the goal of keeping funds liquid while earning interest. • Temporary Liquidity Guarantee Program – Bank of Utah pays additional fees to the FDIC to fully guarantee business ac- counts, Lawyers’ Trust Accounts, and certain NOWaccounts. • CDARS ® (Certificate of Deposit Account Registry Service) allow businesses to safeguard millions of dollars by placing funds into CDs issued through a bank network, in increments of less than the standard FDIC insurance cap. WHAT ARE THE CHARGES FOR FEES AND SERVICES? Banks are highly competitive in this area, but be cautious and look at the fine print to see how services are bundled. There may be unexpected hidden fees. If your prospective banker passes this acid test, you are more likely to have the basis of a good long-term relationship with a banking expert that you can trust, who will suggest strategies for your success. Not only will that relationship provide great peace of mind, but it’s the smart way to oper- ate and the smart way to grow your business.