Cash Concentration Cash Concentration
Enables companies to transfer funds from outlying bank accounts to the company's Wachovia concentration account. ACH is a cost-effective, efficient way to accomplish Cash Concentration. Companies who might be interested using ACH for cash concentration typically:
- Have depository accounts at multiple banks
- Make frequent deposits
- Are retail chains, such as property management firms
- Are large regional lockbox systems
- Use costly, repetitive wire transfers to concentrate funds