How We Became Lake Ridge Bank
We knew right from the start that one of the most important decisions we would need to make was what to name our new bank.
Losses from check fraud continue to rise steadily nationwide, and our market here in the Greater Madison Area is no exception. The silver lining is, there's an easy solution that can greatly reduce the opportunity for check fraud impacting your business deposit account: It’s called Positive Pay.
One of the most frequent questions we in Treasury Management hear from our business clients is, “Should I pay by an Automated Clearing House (ACH) payment or a wire transfer?” After all, choosing correctly can translate to enhanced security, sounder cash management, and a better position to capitalize on trade discounts. But the short answer is, it depends on the situation, as both methods have their pros and cons.
Nationwide, businesses and individuals have seen an uptick in fraudulent theft attempts this year, and we want to help your business be vigilant and avoid losses. Even though you may be busy facing the challenges of supply disruption and inflationary pressures this year, don’t miss an opportunity for a quick system check of your security procedures to make sure you catch any vulnerabilities before someone else finds them.
For business owners, there’s never enough time in the day. Whether you’re meeting with current or potential clients and talking to vendors, or putting out fires and managing the day-to-day operation of your enterprise, you’ve got a lot on your plate. The best way to buy yourself time is to find efficiencies when and where you can.
Since the start of the pandemic, the interest rate environment has presented plenty of challenges to commercial borrowers and depositors alike. Although a bank money market account offers a safe place to keep funds with immediate availability, there are other alternatives a business might want to consider before parking excess capital there for the long term.
Every year, business credit cards gain functionality and become easier to use, and 2022 is no different. Make sure you're getting the full benefit of your card program this year by taking advantage of these features and tips.
After reading the title of this post, you might be thinking, "Can electronic bank statements really improve my life?" A reasonable question, surely, but the answer is yes! In my opinion, electronic statements are simply the best banking service available to our customers. And what makes the humble eStatement such a game-changer? Let’s run down the list...
Ensuring you receive payments reliably and on time is important for efficient cash management. Here are some common payment questions from businesses and how we answer them.
"Together, everyone achieves more." More than simply a clever mnemonic device that encapsulates the importance a unified collective working toward a common goal – a TEAM – this phrase underpins the approach that Lake Ridge Banks' commercial & ag, treasury management, wealth management, private banking, and other financial professionals bring with them to the office (or home office) every day. It's a mindset that allows us to maximize results for our partners, and that's helped propel our own business forward for the past 110+ years.
Lake Ridge Bank has an easy solution to greatly reduce the opportunity for check fraud from your business deposit account: Positive Pay.
When the cumulative profitability of clients is graphed, the resulting plotted line resembles the head and torso of a whale, hence the name “whale curve.”
In a high-tech world, most check fraud is decidedly low-tech. Here are a few suggestions for businesses to avoid becoming victims of check fraud.
There are many reliable, secure alternative means of sending and receiving payments that don’t rely on envelopes of paper hand-delivered to your mailbox.
Here are some ideas to consider for safeguarding your cash flow and securing your organization’s financial position.
Take Advantage of our Treasury Management Resources. We are here to help you control your cash flow and maximize your working capital!
Getting paid quickly helps control cash flow. A well-crafted email can actually help your invoices get paid faster! The following tips can help.
Although the number of checks presented for payment is decreasing every year, the losses from check fraud, unfortunately, are rising nationwide.