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Selected
Feature Details
Click
on any of the features listed for more information:
- Setup
- Maintenance
- ACH Payments
- Account Transfer
- Stop Payments
- Reporting & Exporting
- Data Import
- Validator
Full information on how to use any of these features will be provided by the bank and is also available in our online help files.
SetupYou can choose a variety of Web Office settings to customize the product to best suit your preferences. While some bank-set defaults apply, you can always choose stricter settings. You can add and delete users with access to your accounts, and modify the settings that apply to their activities. You can choose automatic payment release amounts and frequencies.
You can change passwords, view a table of bank holidays, run audit reports that detail user access to the system and send pre-formatted e-mail messages to bank administrators.
Within ACH Payments you can create both payments and collections depending upon which application you choose. For example, Payroll allows direct deposit of payroll (payment) and Cash Concentration allows you to concentrate your funds in a single account (collection).
You can easily initiate ACH transfers through your web browser and feel confident that your transactions will settle quickly, securely, efficiently and according to bank policies and procedures.
The ACH module is easy to use. Each data entry screen is specifically designed for a different type of transaction. Transfer types, also called applications, include:
Direct deposit
of payroll
Cash concentration and disbursement
EFTPS tax payments
Consumer debits and credits
Release of payments to the bank is as simple as selecting a batch of transactions
and clicking the Release button.
Use this function to transfer money between your Milford Bank accounts. You can transfer funds manually or schedule transfers for specific future dates. You can retain data entry for repeat transfers so that you need only enter the information once.
You can send a request to the bank to stop payment on a check that was previously issued. A stop payment e-mail message is created from the Stop Payment screen, then routed to the appropriate party at The Milford Bank.
Please Note: When you send a stop payment request it does not automatically stop a check payment on bank systems. Your request must be processed by bank staff. Once processed, we send you a confirmation e-mail message.
Depending upon the type of report, you may be able to specify one of the following report views:
Summary report views show account summary information (such as balances). Depending upon the type of report, you can click on the account number to view a Transaction List view for that account.
Transaction List views show detailed transaction activity for one or more selected accounts. Depending upon the type of report, the account activity displayed can be filtered to show only certain kinds of activity. For example, a check paid report would display only checks that have cleared through accounts.
Statement report views give you a complete statement of current debits and credits for a particular account. You can adjust totals for Statement views.
You can export the results of Information Reports or Transaction Searches as standard comma-separated or tab-separated files which can be read by most database and spreadsheet programs.
Import files created with your accounting software to an ACH database. File types that can be imported into our Business Web Office include:
- fixed format files
- coma separated fields
- NACHA files (electronic files containing payments or related information that are in a standard format which can be processed through the National Automated Clearing House network).
Import NACHA files directly into your cash management system as "batches."
Simply contact our dedicated business bankers: Don Kanoff; 203-783-5725 or Larry Leete; 203-783-5702. They can demonstrate our Business Web Office banking and cash management service. They will gladly refer you to several of our commercial customers currently using the service.
For more information about our business banking offerings and for general business resources, click here.
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33 Broad
St., Milford
259 Merwin Ave., Woodmont
205 Bridgeport Ave., Devon
1455 Boston Post Road, Milford
2366 Main Street, Stratford
142 Temple Street, Suite 306 New Haven, CT 06510 (Loan Production Office)
203-783-5700
CT toll free: 800-340-4TMB
Copyright © 2002-2003 The Milford Bank. All rights reserved.
