Online Banking

Business Cash Management

Anchor Bank is a community bank, which means we are committed to helping local businesses achieve financial success. Especially in a business with fewer employees, keeping track of receivables, payables, payroll and other functions can be a challenge. The more efficiently your business is able to manage these functions early on, the more costs can be controlled and profitability increased as your business continues to grow.

Online Banking

Business AnchorLink® is a convenient way for you to access your account information at any time – day or night. As an extension of Anchor Banks comprehensive business banking solutions, AnchorLink brings all of your account information together on one easy-to-use website. 

How it works for you

  • Access account information – With AnchorLink, you can access information for all your business accounts quickly and easily. You can check your balances for cleared and available funds, review transactions on an account, and monitor current day and prior day balances with detail by transaction category (Automated Clearing House [ACH], In-clearings, Over-the-counter, Wires and Transfers). AnchorLink gives you access to high quality images of the front and back of each check at your convenience. Images of your deposit tickets are available as well. Account information can also be exported into other common applications including Quicken®, QuickBooks® or other money management software. Use Direct Connect with Quicken or QuickBooks to initiate transfers, pay bills and download your account information. Generate reports of account activity using multiple variables including account numbers, date range and transaction codes. Receive Electronic Data Interchange (EDI) information that minimizes cash receivable and payable functions by passing invoice and payment data through our ACH banking network.
  • Manage payments – AnchorLink enables you to manage payments, transfers, and direct debits efficiently and securely. Use the Bill Payment function to pay any business or individual. Just add a payee and schedule one-time or recurring payments with the click of a mouse. You can also use AnchorLink to originate ACH transactions, initiate Wire Transfers and make transfers between accounts. AnchorLink allows you to initiate stop payments online. Activate your ATM/debit card and report your card as lost or stolen.*  
  • Speed collections – Receive payments through the ACH network, streamlining your payment processes and eliminating checks. ACH also provides precise control over your cash flow by giving you the ability to specify the settlement date of payments.
  • Fraud detection – Reduce the risk of fraud by monitoring transaction activity and receiving notifications when there is a potential risk through the use of ACH Filter, Account Reconciliation and Positive Pay capabilities available through AnchorLink.


Key benefits to your business

  • Security – AnchorLink was designed with multiple layers of security to protect the privacy and safety of your companys account information. Banking online through AnchorLink is secure. We stringently adhere to industry standards regarding security and employ state-of-the-art technology to keep your information confidential. All sensitive information is encrypted and access requires a password known only to the account holder.
  • Convenience – AnchorLink offers you access to your accounts 24 hours a day, seven days a week. You can do your banking from home, work or when you are out of town.

AnchorLink demo

*Contact a banker to order a new ATM or debit card.

 

Direct Connect

With Direct Connect, you can manage all your business finance needs in one spot. Through your Quicken® or QuickBooks® financial management software, create transactions without having to log in to AnchorLink® Online Banking. Securely access your Anchor Bank account(s) using two-way communication built in to Quicken or QuickBooks, which uploads the bill payments and transfers to Anchor and then downloads the cleared transactions from Anchor.

How it works for you
Log in to your Quicken or QuickBooks to download transactions, make transfers and pay bills without logging in to AnchorLink Online Banking.

With QuickBooks, you can:

  • Connect bank and credit card accounts for automatic downloads and categorization.
  • Track inventory on hand and per-item cost.
  • Stay on top of receivables, including when payments are due.
  • Manage invoices and vendor payments.
  • Quickly see profit and loss, balance sheets and other reports.
  • Run and file payroll taxes.

With Quicken, you can:

  • Separate business expenses from personal spending.
  • See how the business is doing with profit and loss snapshots anytime.
  • Create custom reports to assist with tax reporting.
  • Create invoices to send to clients.
  • Track rental income, lease terms, rental rates and deposits – all in one place.

Key benefits to your business

  • Save time – Input information into QuickBooks, and it’ll communicate with Anchor Online Banking; saving you time you used to spend uploading the same information.
  • Improved accuracy – Because you only have to enter in information once, there is less room for human error. You’ll get peace of mind that everything has automatically reconciled to your online Anchor account.

 

Talk to your banker, or call (952) 230-1630 or (800) 425-5150, option 0, for more details.

 

Already signed up for Direct Connect? Click here to access your user guide.

Quicken and QuickBooks are registered trademarks of Intuit, Inc.

 

Bill Payment

Easy and paperless. Schedule payments at the frequency that you choose and pay your bills automatically.

How it works for you
Your payments are electronically transferred from your Anchor Bank account to a payee’s account through the Automated Clearing House (ACH). If the party you owe is not set up for electronic transfer, a check is sent through the mail. 

AnchorLink® Internet Banking with Bill Payment doesn’t require any special software. And, you can choose the frequency of your payments whether it’s a one-time payment or a regularly scheduled payment, no matter how often it’s paid.

Best of all, you only have to enter the payee’s information once. You can have an unlimited number of payees to whom you can make payments. You can check the status of a payment anytime, which gives you even more control.

Key benefits to you

  • Saves time – Pay monthly bills in as little as five minutes and eliminate paper, stamps and envelopes.
  • Control over payments – You can choose the frequency of your payments whether it’s a one-time payment or a regularly scheduled payment, no matter how often it’s paid.
Wire Transfer

With Anchor Bank's Wire Transfer service, you can make a same-day transfer of funds from your account to another financial institution. Wire transfers offer safe and secure movement of funds between financial institutions on a real-time basis and with finality of payment.

How it works for you
A wire transfer is the electronic movement of funds from one financial institution to another. A wire transfer provides for immediate, irrevocable availability of funds by eliminating the uncertainties of mail and check collection time.

Wire transfers, in US funds, can be initiated online via AnchorLink® Internet Banking. It’s easy to use and lets you predefine payment instructions for repetitive wire transfers. Your authorized personnel can initiate repetitive and non-repetitive wires online via AnchorLink. Wire Transfers, in foreign funds, can be requested through the Wire Department.  Based on your instructions, Anchor Bank then transmits your request and wires are processed during business hours. Wire cut off is 4:00pm central time.

You are also able to monitor incoming wires via AnchorLink® Internet Banking as they post.  For incoming International wires in US funds, Anchor Bank does have a SWIFT code, which allows for a more streamlined way to receive International wires.

Wire transfers allow precise timing of payments and accurate projections of receipts and disbursements and are particularly useful in handling high-dollar transactions. Because wires can be transferred quickly, you are able to maximize the use of funds. Wire transfers can be initiated as needed and Anchor Bank offers multiple security options.


Key benefits to your business
• Reduce errors – Avoid duplication and errors when sending wires to the same accounts by establishing repetitive wires and assigning access for specific users and dollar amounts.
• Fast and final payment option – Unlike many payment options, wire payments provide the fastest delivery of funds and are final. They cannot be recalled without permission of the payee and settlement is guaranteed.
• Increased security – Wire transfers are the most secure and cost-effective method to move large value payments.
• More convenient – Initiate wire transfers electronically from your desktop with flexible options.
• Added control – Avoid duplication and errors when sending wires to the same account. You can establish each user's access to accounts, dollar amounts and repetitive wires.

Connect with a cash management specialist to learn more

Remote Deposit

Streamline your deposit process and improve your cash flow by using a desktop scanner or the Anchor Remote Mobile app to quickly capture check images, verify amounts and transmit them electronically.

Key Benefits

  • Make deposits 24 hours a day, seven days a week.
  • Consolidate funds from multiple remote locations to your Anchor Bank account.
  • Faster check clearing reduces the risk of fraud.
  • Save time and minimize costs by eliminating trips to the bank.
  • No need for employees at remote locations to mail or bring checks to the office.
  • Employees can only access Anchor Remote Mobile to deposit checks, which keeps your other account information secure.
  • View images of deposited checks through Anchor Remote in AnchorLink® Online Banking.

Anchor Remote Scanner Options

Epson Capture Multi Feed Scanner
Multiple document scanner: (about 60 checks per minute)
Recommended volume: 100+ pieces per day  
Purchase Price: $650 (plus shipping & handling)

Epson Capture Single Feed Scanner
Single document scanner
Recommended volume: 1 - 100  pieces per day  
Purchase Price: $320 (plus shipping & handling)

Operating System Requirements: Windows® 7, 8.1 Update 1 and 10. Supported browsers are Google ChromeTM and the most current version of Internet Explorer.® It is not compatible with Mac® computers, Microsoft® Vista or Edge. 
Warranty: This scanner is warranted for a period of two years by the manufacturer against defects in materials and workmanship under normal use and service. Additional warranty options are available. 
Supplies: Supplies are the responsibility of the owner with current pricing information available at http://fulfillment.blmtechnology.com. 
Maintenance: Call BLM Technology at 800-877-4280. 
Image Cameras: One pass is required to scan the front and the back of each check. 
Amount Enter: Scanner reads the dollar amount using Courtesy Amount Recognitions/Legal Amount Recognition.

Anchor Remote Mobile Options

  • It’s easy to download the Anchor Remote Mobile app
    -    iPhone® and iPad® through the App store.
    -    AndroidTM phone through the Google PlayTM store.

Anchor Remote Mobile Demo

 

Contact your banker at (800) 425-5150, option 0, for more details.

 

Windows, Internet Explorer and Microsoft are registered trademarks of Microsoft Corporation in the United States and/or other countries. iPhone®, iPad® and Mac® are registered trademarks of Apple, Inc.  AndroidTM, Google PlayTM and Google ChromeTM are  trademarks of Google, Inc.

Merchant Card Services

Today's consumers want options. Make it easy for them to pay for your products and services by accepting card payments. Anchor Bank's Merchant Card Services enable you to expand your customers' payment options, simplify your business operations and increase revenue.

Whether you run a retail store front, have an online store, operate a mail order or telephone order business, or sell to other businesses, Anchor Bank's Merchant Card Services provides your business an easy way to accept credit cards, debit cards, gift cards, and other payment options.

How it works for you

  • Authorization – The cardholder pays for the purchase and the merchant submits the transaction to the acquirer. The acquirer verifies almost instantly with the issuer that the card number and transaction amount are both valid, and then processes the transaction for the cardholder.
  • Batching – After the transaction is authorized it is then stored in a batch, which the merchant sends to the acquirer later to receive payment (usually at the end of the day).
  • Clearing and settlement – The acquirer sends the transactions in the batch through the card association, which debits the issuers for payment and credits the acquirer. In effect, the issuers pay the acquirer for the transactions.
  • Funding – Once the acquirer has been paid, the merchant receives payment. The amount the merchant receives is equal to the transaction amount.
  • Statement and billing – At the end of each month, transaction data is compiled and fees come out in one lump sum on or around the 2nd business day of the month for the previous month's activity. A detailed statement of the previous month's activity is delivered around the 10th of each month.


Key benefits to your business
Regardless of your business's size or industry, there are many benefits in having the ability to process credit card transactions.

  • Expand payment options – By accepting multiple forms of payment, you give your customers options and improve their shopping experience.
  • Simplify business operations – As a merchant, card acceptance allows you to reduce overhead by eliminating many of the accounting, collection and paper work activities associated with your cash and check receivables. 
  • Increase revenue – In addition, card processing is an efficient, convenient payment solution that helps you improve cash flow by ensuring timely, automatic deposits to your account. In addition, value-added services, like gift card, check services and prepaid card programs can provide a new channel for generating profits and increasing your revenue.
  • Online reporting and support tools – A web-based transaction reporting system is provided that helps merchants manage their credit card acceptance. The reporting solution offers easy, online access to a comprehensive selection of reports 24 hours a day, seven days a week. This convenient online site allows you to display transaction history, authorizations, chargebacks, ACH history, your merchant statement and much more.
  • Customer service and voice authorization – Customer support is available whenever you need it. A dedicated and well-trained staff of service professionals operates a 24/7 call center for voice authorization and client assistance. In addition, Higher Standards offers a local service number Monday through Friday during regular business hours.
ACH Origination

ACH (Automated Clearing House) origination lets you electronically send and collect payments through the ACH network, streamlining your payment processes and eliminating checks. ACH also provides precise control over your cash flow by giving you the ability to specify the settlement date of remittances and payments. We make it easy and affordable for your business to use ACH.

How it works
Once you enter your payment information into the system, you can generate a formatted file to process and batch your transactions. You can save a specific batch, reuse it, or submit a recurring batch, which improves efficiency and reduces keying errors. You will need a Windows-based operating system and Internet access. We’ll train your staff on how to use our system, and provide on-going support.

Key benefits

  • Increase efficiency – Using a single access point for payments and funds transfers can dramatically increase the efficiency of your operations. Storing payment information eliminates manual data entry and allows you to streamline recurring batch processing.
  • Reduce costs and risks – By eliminating paper checks, you can significantly reduce costs while minimizing the errors that can occur when you manually process checks. Using electronic payments decreases the risk of check fraud and lost checks.
  • Improved forecasting and cash flow – ACH Origination helps you gain greater control over your cash flow by specifying settlement dates for payments and remittances. In addition, you receive a complete record of transactions for a precise audit trail.
  • Send payments faster – Make payments quickly by utilizing same-day or next-day processing options. You can distribute payroll on the same day, or pay invoices and send remittance data to trading partners faster in time critical situations or like missed deadlines or when a correction is needed.

Click here to contact a banker for more details.

 

ACH Filter

We offer a way to protect your business from ACH fraud. The ACH Filter allows you to define acceptable ACH debits and credits to clear your business accounts.

How it works for you

  • An ACH Filter gives you control and helps protect against unauthorized or erroneous ACH entries. You can set various criteria to authorize some ACH debits and/or credits to post to your account. If any items do not match the filter data, we provide that information to you early in the day so that you can determine whether to honor or return the ACH items. Exception processing also permits unresolved items to be returned unless the bank is notified.
  • Anchor Bank’s ACH Filter services are available directly through AnchorLink® Internet Banking – allowing you to quickly and easily review items to determine whether they have been issued by your company or are fraudulent. With the click of your mouse, you can then direct us to return any unauthorized items.


Key benefits to your business

  • No manual account monitoring – ACH Filter stops and automatically returns unauthorized ACH transactions to you.
  • Preventative protection – ACH Filter protects your business from loss by preventing unauthorized ACH transactions on your account.

 

Positive Pay

Anchor Bank's Positive Pay service quickly identifies possible fraudulent checks to help safeguard your company. Positive Pay is an automated check matching service that compares checks presented for payment with checks you've issued, giving you the chance to review any checks that don't match to your issued file and make the decision to pay or not.

How it works for you
Each time your accounts payable system generates checks, you transmit a checks-issued file to Anchor Bank. We compare your issued check data to our daily paid check file to ensure that all checks presented for payment have been authorized and are presented for the correct amount. If any items do not match the issue data, we provide that information to you early in the day so that you can determine whether to honor or return the items. Exception processing also permits unresolved items to be returned unless the bank is notified.

Key benefits to your business

  • Reduce exposure to fraud – Identify unauthorized transactions, including counterfeit or altered checks, before final payment.
  • Quick and easy to use – With AnchorLink you can view images of your Positive Pay exceptions online and decide which ones should be paid.
  • Easy file upload – Use the upload feature available through AnchorLink®.
  • Save time and money – By significantly reducing the potential for check fraud, Positive Pay can save you time, effort, and real dollars.
Insured Cash Sweep®

ICS®, the Insured Cash Sweep® service, is a smart, secure, and convenient way for Anchor Bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.1 


With ICS, you can:
  • Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
  • Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts.
  • Save time. Work directly with just Anchor Bank – a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from Anchor Bank summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
  • Access funds. Enjoy unlimited withdrawals for your cash management and liquidity needs. 
 
 
How can deposits greater than the standard FDIC insurance maximum be eligible for insurance by the FDIC?
The FDIC insures up to $250,000 of a customer’s deposit accounts in a given insurable capacity at an FDIC-insured depository institution. Your ICS funds are divided into amounts under the standard FDIC maximum and placed with other ICS Network members – each an FDIC-insured institution. This makes your deposit eligible for FDIC insurance at each member bank. By working directly with Anchor Bank, you can access insurance through many. You receive just one consolidated, monthly account statement from Anchor Bank. (You can also see, online, where your funds are at all times.)
 
How often can I access my funds? 
You can make unlimited program withdrawals using the ICS demand option.
 
Who has custody of my funds? 
Funds placed through ICS are deposited only in FDIC-insured banks. Anchor Bank acts as custodian for your ICS deposits, and the subcustodian for ICS deposits is The Bank of New York Mellon (BNY Mellon), the largest custodian in the world.2
 
Who provides the additional FDIC insurance when my funds are placed using ICS?
Through ICS, funds are placed with other ICS Network members, and those Network members provide you with access to the additional FDIC insurance coverage. Working directly with just Anchor Bank, you can access coverage through many.
 
Is my account information safe?
You work directly with Anchor Bank – the bank you know and trust. As always, your confidential information remains protected. 

Click here to contact a banker.
 
1 Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements you enter into with us, including the ICS Deposit Placement Agreement. Limits and customer eligibility criteria apply. 
2 Please see https://www.bnymellon.com/us/en/who-we-are/index.jsp#profile for details. 

Insured Cash Sweep and ICS are registered service marks of Promontory Interfinancial Network, LLC.