Payment Solutions
BHI offers a full line of cash management solutions to help you manage and monitor your business expenses.
Our payment solutions allow you to process payments, improve cash forecasts, and make timely funding decisions. With our solutions, you’ll have added flexibility, enhanced security, and be better equipped to maximize your cash flow.
Sending a wire transfer is quick and easy. Wires can be future-dated or processed immediately—in multiple currencies. You can monitor and approve transfers online, and receive email confirmation once funds are transferred.
ACH payments are a low-cost alternative to wire transfers and offer better control than paper checks. Making domestic payments electronically saves time—and ensures timely payments. Plus, you’ll save money on processing fees and postage.
Bill Pay is a service offered by BHI that enables business clients to manage and automate check payments to vendors, suppliers, or service providers via electronic options. Through this service, businesses can initiate check payments to beneficiaries. Our Online Banking platform will review the beneficiary of a check payment and, where applicable, will make the payment electronically (i.e., ACH). Where beneficiary details are not available in our database, the Online Banking platform will issue, print and mail a paper check.
Benefits to Business Clients
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Efficiency: Automates recurring payments, saving time and reducing manual effort.
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Cash Flow Management: Provides greater visibility into outgoing payments, helping businesses plan finances effectively.
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Error Reduction: Reduces mistakes associated with manual payment processing.
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Security: Enhances the secure processing of payments, reducing the risk of fraud.
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Convenience: Centralizes payment management, simplifying tracking and reconciliation.
For beneficiaries who do not accept electronic payments, our Online Banking platform will issue checks so that our business clients can still make payments to all recipients, regardless of their preferred payment method.
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Controlled Disbursement is a specialized cash management service provided by BHI and designed for business entities. It enhances our business clients’ ability to monitor and manage their daily expenditures effectively, particularly as related to issued checks.
What It Does
Controlled Disbursement provides our business clients with a clear view of their daily cash needs. By offering reports on checks presented for payment, business clients that enroll can make more informed decisions about their cash reserves and ensure adequate funds are available for disbursements.
How It Works
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Daily Reports: BHI will notify enrolled business clients early in the day about checks clearing that day, enabling precise cash flow management.
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Efficient Check Processing: Advanced electronic clearing systems expedite check settlement, reducing float time—the delay between when a check is written and when funds are deducted.
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Liquidity Planning: Enrolled business clients may align inflows with outflows to maintain liquidity without holding excessive idle funds.
Benefits to Business Clients
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Optimized Cash Flow: Maximize the use of available funds for investments or debt payments, enhancing financial efficiency.
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Reduced Borrowing Costs: Aligning accounts receivable collections with payment schedules minimizes reliance on short-term borrowing.
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Improved Financial Decision-Making: Real-time insights into pending disbursements supporting the allocation of assets strategically (i.e., maximizing interest earnings).
Controlled Disbursement is particularly valuable for check issuing dependent clients where efficient cash flow management is crucial.
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BHI business credit cards are financial tools designed specifically for business clients to manage expenses, build credit, and streamline financial operations.
What It Does
Our Business credit cards provide business clients with a line of credit to cover operational expenses, such as office supplies, travel, or equipment purchases. Business credit cards also help separate personal and business finances, making bookkeeping and tax preparation more straightforward.
How It Works
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Credit Limit: The card issuer assigns a credit limit based on the business client's financial profile and creditworthiness. The credit can be assigned as a line of credit (based on creditworthiness) or by depositing cash collateral (prefunded).
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Expense Tracking: Transactions made with the business credit card are itemized, enhancing cardholders’ ability to monitor spending and manage budgets effectively.
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Repayment Terms: Cardholders must pay off the balance in full over the course of customizable repayment terms.
Benefits to Business Clients
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Cash Flow Flexibility: Business credit cards provide short-term financing to bridge gaps in cash flow, which may contribute to smoother operations.
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Expense Management: Business credit cards simplify tracking and categorizing expenses, aiding in financial planning and reporting, as well as provide tools to efficiently manage card administration and expense reimbursement.
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Building Business Credit: Responsible use of the business credit card may help establish and improve a cardholder's credit profile.
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Employee Spending Control: Business credit cards can be issued to employees with customizable spending limits, enhancing oversight and accountability.
Business credit cards are versatile tools that cater to business clients of all sizes, offering convenience, financial benefits, and opportunities for growth.
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