Selling Treasury Management Services: Health Check

10 Questions
Selling Treasury Management Services: Health Check

How well do you know Treasury Management products and how they can best fit your clients’ and prospects’ needs? Take our short, 10-question interactive health check to find out!

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Questions and Answers
  • 1. 
    Pain points that may show a need for eTreasury/Internet Banking include: 
    • A. 

      Difficulty making decisions due to lack of immediate access to current information

    • B. 

      Previously victimized by fraud and forgery

    • C. 

      Too many trips to the bank for making deposits

    • D. 

      High staffing expenses for receivables processing

  • 2. 
    Fast Eddy’s is a chain of 19 convenience stores operating in three states. Cash, credit cards, and debit cards are the most frequently used payment forms.  Stores also receive checks. Owner Eddy Carroll is concerned about productivity lost when employees are driving daily receipts to bank branches and the challenges of keeping things straight between the three different banks he uses as depositories.Select the service below that best addresses Eddy’s concerns. 
    • A. 

      Retail Lock box

    • B. 

      Remote Deposit Capture

    • C. 

      Sweep Services

    • D. 

      Vault Services

  • 3. 
    A key factor that would suggest that a company might be a good target for Deposit Reconciliation Services…? 
    • A. 

      Too much time spent performing manual reconciliation

    • B. 

      Using multiple accounts to separate payments received at different locations

    • C. 

      Time lost due to too many trips to the bank

    • D. 

      Difficulty making decisions due to lack of information about receipts

  • 4. 
    Randy Meyer, owner and president of Meyer Homes, Inc., is a residential and commercial builder. He maintains separate checking accounts for each project, paying project subcontractors and other vendors from those accounts. He keeps $250,000 in his primary account. “Yes, it would be helpful to know what’s going to clear on any given day so I can make sure I don’t bounce anything during tight periods between construction draws.”Select the service below that best meets the company’s needs. 
    • A. 

      Account Reconciliation

    • B. 

      ACH Services

    • C. 

      Controlled Disbursement

    • D. 

      ETreasury

  • 5. 
    For a company with a significant number of DDA accounts (e.g. for different purposes or locations), which of the following would be the best question to tease out a need that Zero Balance Accounts could address: 
    • A. 

      How frequently are you bouncing checks in your master account or sub accounts?

    • B. 

      How much staff time is spent transferring funds between accounts to ensure clearing checks can be paid?

    • C. 

      How often are any of your accounts at a zero balance?

    • D. 

      How do you determine the target levels of balances in your accounts?

  • 6. 
    Which of the following pain points can Wholesale Lockbox help relieve? 
    • A. 

      Under-utilized, excessive cash balances

    • B. 

      Slow posting of payments received for previous shipments delays new shipments to customers

    • C. 

      Too much time spent researching individual checks

    • D. 

      High staff training time due to lack of procedural standardization

  • 7. 
    Bob’s Company maintains several disbursement accounts. Account 1  is their concentration account; they use the other accounts for outgoing payments.  They want to minimize excess balances maintained in the other accounts. In order to maintain flexibility about how and from what source they fund checks presented for payments in the other accounts, the best product for them would be:
    • A. 

      Zero balance accounts

    • B. 

      Controlled disbursement

    • C. 

      Online banking/e-Treasury

    • D. 

      Overdraft alerts

  • 8. 
    Which of the following is a distinguishing characteristic of Positive Pay? 
    • A. 

      Client must supply bank with check issue list

    • B. 

      Matches the name of the payee with the name that appears on the check when presented for payment.

    • C. 

      Provides a list of exceptions

    • D. 

      Lists all unpaid items in check number order

  • 9. 
    Benefits for ACH Credits include:
    • A. 

      Accelerate and reduce cost of preparing invoices or bills for clients

    • B. 

      Accelerate collection of customer payments

    • C. 

      Reduce possibility of fraud

    • D. 

      Reduce unauthorized spending

  • 10. 
    Janvier Corporation frequently needs to make same-day payments to suppliers and others on specific dates in order to qualify for various vendor programs. The amounts are typically not known ahead of time.The best payment method for them is: 
    • A. 

      Checks

    • B. 

      ACH Credits

    • C. 

      Commercial card

    • D. 

      Wire transfer