Virtual Account Management

First PREMIER Bank

Streamline Account Management & Reduce Overhead

First PREMIER Bank's Virtual Account Management solution streamlines account management, reduce costs and optimize working capital.

CONTACT US

The Basics

Virtual Accounts are a cost-effective means of centralizing and streamlining account management, eliminating the need for a complex and costly network of physical accounts. Virtual accounts are non-physical accounts that are created and tied directly to a physical account at First PREMIER Bank. Virtual accounts carry a unique account number and online access, which can be used to simpllify account reconcilation, billing and payment collection. Funds movement takes place through the linked physical account, while reporting can be done at both the virtual and physical account level.

For Companies with:

  • Complex banking and treasury services needs
  • Large transaction or deposit volume
  • Complicated infrastructure, multiple locations or geographics
  • Multiple customer accounts with unique treasury services needs
  • Supplier, vendor or client accounts with ongoing transactions
  • A desire for more centralized account access and control and increased transparency into working capital positions
Contact Us

The Benefits

  • Set up custom virtual account structures based on business needs
  • Streamline and centralize account and treasury services activities
  • Eliminate the need for an extensive network of physical accounts
  • Reduce costs associated with multiple physical accounts 
  • Simplify cash management and account reconciliation
  • Optimize working capital management
  • Easy online account access and administration

Get Started Today

We provide a customized suite of financial management tools that help businesses efficiently manage cash, payables and receivables. Contact a Treasury Services Specialist to learn more.