A Winning Combination
Businesses - especially small businesses -- are an integral part of our economy. In fact, the statistics are staggering: in the United States alone, there are 23 million small businesses (with annual receipts of $500,000 or less), representing over 99% of all employers, and employing 53% of the private work force, resulting in 47% of all sales in the U.S.* In other words, small businesses provide nearly all jobs in the U.S. and generate more than half the nation's gross domestic product.
The Franklin Savings Bank Difference
As a service-oriented, local community bank, Franklin Savings Bank understands what it means to be a small business. We know the importance of sincere customer service, high-quality products, dependable vendors, sufficient cash flow, and finding a niche that sets your business apart from the competition. We know all about it because we work with these same important topics.
Established in 1869, Franklin Savings Bank is a mutual savings bank. As a mutual savings bank, we're owned by our customers, so we have no shareholders to satisfy. That gives us the freedom to focus on the people we want to satisfy: our customers and members of the communities we serve.
Our aim is to do all we can to ensure that local housing, neighborhoods, businesses, and public facilities contribute to a quality of life we can all enjoy and take pride in. That's why we've developed a variety of local programs, including educational scholarships and the Franklin Savings Bank Fund for Community Advancement - in which we've invested $1,000,000 towards doing our part.
How We Can Help Your Business Needs
As a truly local bank, we have the luxury of getting to know our customers on a personal basis, which has made it possible for us to carve our own niche: to provide products and services that are responsive to the diverse needs of the business community. Although we're a growing community bank, we're big enough, and experienced enough, to develop and offer innovative products that meet the changing demands of the marketplace. Decisions about your needs (whether it's a loan, a line of credit, or services) are made right here - by people who know you and your business. Our response time is as fast as it is considerate, since personal connection is part of every relationship.
Whatever your business banking needs, we welcome your questions, comments, inquiries, ideas…and, of course, your business.
*Reference: www.sba.gov - February 2000
Health Savings Accounts (HSAs) offer a convenient, tax-deductible means for your employees to pay for qualified medical expenses with nontaxable distributions. If you offer your employees a high-deductible health plan (HDHP), consider offering a Franklin Savings Bank HSA – a pre-tax benefit for your employees at no cost to you!
How Your Employees Will Benefit:
Franklin Savings Bank’s Health Savings Account offers a very competitive variable tiered interest rate with the convenience of no fixed maturity date. Your employees will benefit from account features such as:
- Low opening deposit
- Unlimited check writing with special HSA checks
- Free Debit Card with $1,000 daily Point of Sale (POS) limit
- Free I-Bank24 access
- Monthly statements
- Low monthly maintenance fee only if the account balance drops below $1,500
CheckConnect24 - Merchant Capture Service
Deposit checks electronically from your desktop.
CheckConnect24 utilizes a desktop scanner that connects to your PC and the Internet. With it, you can scan checks received from customers and issue deposits electronically to Franklin Savings Bank anytime, day or night. It's the quickest way to turn check deposits into cash.
Key Advantages of FSB's CheckConnect24:
- Make deposits anytime
- Save time preparing deposits
- Consolidate funds from remote locations into your FSB account(s)
- Cut costly employee time or courier costs for trips to the bank
- Reduce the risk of check fraud
To find out how your company will benefit from CheckConnect24, contact us online or stop by any office of Franklin Savings Bank.
FSB Electronic ACH Services Franklin Savings Bank offers a wide variety of ACH Origination and electronic payment services. Through our windows based program or telephone initiated service, your business is able to access the Automated Clearing House (ACH) network for processing electronic fund transfers. It offers a convenient, efficient and economical way of processing various electronic transactions.
ACH Services Available
- Employee Payroll Direct Deposit - Offer an additional benefit to your employees by electronically depositing their pay while saving your company time and money in the process.
- Process State and Federal Tax Payments - Allows you business to pay your State and Federal tax payments electronically.
- Transfer of Funds - Transfer funds between your corporate accounts at multiple financial institutions.
- Electronic Check Conversion - Allows your business to convert all paper checks to electronic ACH transactions.
- Child Support Payments - This service enables your business to pay employee mandated child support payments to the courts electronically.
FSB ACH services also allow many other electronic transactions, such as: collecting donations, accepting monthly dues or payments, submitting vendor payments and much more. For more information, please contact our Relationship and Business Development Officer
Repurchase Agreement Sweep Account
The Repurchase Agreement Sweep Account provides an automated cash management vehicle for transferring your Business Checking collected balances to and from a Securitized Repurchase Agreement investment on a daily basis. The repurchase agreements are backed by U.S. Government Treasury, Agency, and/or Mortgage-Backed Securities, and the investment is 100% collateralized. A compensating target is determined to offset monthly maintenance charges.
The interest rate is based on the 3-Month Treasury Rate as of the last Tuesday of the month as quoted in the Wall Street Journal. The product is tiered as follows:
$100,000+………………..……….….………………60%
$50,000 - $99,999…………………..……………….50%
$10,000 - $49,999……………………………..….…40%
$1,000 - $9,999…………………………………...…30%
| Not FDIC INSURED | May lose value | No bank guarantee |
Transaction confirmation is mailed daily, and the convenience of investing your excess liquidity is provided at no charge.
ELECTRONIC PROCESSING SYSTEM
Franklin Savings Bank's electronic processing system offers the convenience of electronic authorization and data capture so you can accept a variety of nationally recognized credit cards including VISA, MasterCard, American Express, Diner's Club and Carte Blanche.
Our electronic processing system will also allow you to accept MAC/Debit card transactions as payment for purchases. Since credit and debit card usage is growing at a rate of over 15% every year, your ability to accept these types of payments not only help you earn customer satisfaction and appreciation, it will help your sales!
BUSINESS VISA™ CREDIT CARDS
Franklin Savings Bank now lets you decide which Business Visa credit card may be most appropriate for your business. Each of the three Visa cards offered provides a great Annual Percentage Rate (APR), management reports and the convenience of “Direct Card Access” to manage and even pay your account online.
The Business Edition Visa and the Business Edition Plus cards are often chosen and enjoyed by sole proprietorships, privately held, and closely held companies. The Corporate Edition Visa is typically for larger corporations, non-profits and government entities; the corporate card offers the benefit of placing purchasing restrictions on the cards.
Please ask a Franklin Savings Bank representative for information on the additional benefits of our Business Visa credit cards or for an application. The choice is yours!
I-Bank24 Online Banking provides immediate access to your Franklin Savings Bank Business account information - from anywhere in the world. So whether you're on a business trip, or at home on a Sunday morning, with your computer and access to the Internet, you can do your business banking simply, quickly, and securely - just by going to www.fsbnh.com.
- View account history with up-to-the minute, live, "real time" balances
- Search through your checking account history by check number, amount or date range
- View full images, front and back, of any check that has cleared your account
- Export account history to a financial management software such as Quicken®, QuickBooks® and MS Money®
- View current and previous statements
- View your transactions in checkbook format
- Transfer funds between accounts
- Pay bills
- And much more . . .
For an online demonstration, please click here and then click on the "Test Drive" button.
Phone24 Telephone Banking
You can also do your business banking anytime, and from anywhere, using your phone. Simply call 934-1440 or 1-800-414-2568 for any of the following:
- Obtain account information:
- Balance
- Deposits made
- Checks cleared
- Make transfers between FSB accounts
- Make loan payments
- Obtain deposit and loan rates
- Perform investment and loan calculations
- And much more…
VISA™ Business Check Card
Franklin Savings Bank’s VISA™ Business Check Card has all the conveniences of a personal consumer debit card along with added custom options for businesses. The VISA™ Business Check Card uses VISA™ purchasing power to make purchases easy for your business and its authorized employees. Use it to get cash at an ATM or to make purchases - the funds are automatically deducted from your business checking account. Unlike a credit card, there are no monthly payments to send in the mail or finance charges for purchases made within your account balance.
The VISA™ Business Check Card can eliminate the need to use personal funds for business purchases or maintain petty cash. An itemized record of purchases and ATM transactions, including the date, amount, and where you used the card, will appear on your monthly business checking account statement. This makes reconciliation easy, and is a real advantage at tax time – with no missed business deductions.
Some additional features include:
- Cards are customized by user: business owners have purchasing authority for one amount while employees have purchasing authority for different amounts, appropriate for that employee's position.
- Both cash withdrawal amounts and point of sale purchase limits are customized to each individual user.
- Cards are embossed with the individual card holder's name and the business name
FSB on CD
Are you tired of storing pages and pages of statement information month after month? Wish there was an easier way to maintain this valuable and necessary information? Well now there is! FSB on CD allows your business to receive your statement information on an easy-to-use and easy-to-store CD. This CD can be customized to include your clear and concise statement, images of your checks (front & back), and images of your deposit tickets. You also have the option of receiving these CDs on a monthly, quarterly, semi-annual, or annual basis.
Our Lockbox Services are designed to help your business speed up collections of accounts receivables, streamline remittance processing, lower in-house processing costs, reduce errors and improve audit trails. The lockbox service through Franklin Savings Bank can also help you utilize cash and update collection reports the day your funds are received. In addition, improve your overall control of funds with customized, timely reports that are made available to you online immediately after transactions are processed. Most importantly, these lockbox services are tailored to your individual internal processing needs. Choose from various lockbox service options, based upon the type and volume of your remittances. Contact us for more details!
To find out more information about Franklin Savings Bank Business Checking accounts, please call one of our Customer Service Representatives at 1-800-FSB-4445 (toll free in NH) or (603) 934-4445 or complete our Online Information Request Form.