The configuration of a company’s concentration structure depends on the volume and geographic dispersion of its collections and disbursements; this is why BPPR offers various concentration service alternatives. We offer the flexibility to customize our services to your needs.
Cash Concentration Account
The cash concentration account (CCA) serves as a centralized cash pool by receiving and disbursing funds from zero balance accounts. Corporate deposits, maturing investments, wire transfers, night deposits, lockbox deposits and other cash gathering transactions are credited to this account. Concentration simplifies cash management by enabling you to focus on one balance.
Zero Balance Account
Maximize the use of your company’s funds with no efforts with a ZBA. You can disburse or deposit funds directly into one or more zero balance accounts. Each day, the balance in each ZBA is netted. Accounts with a positive balance are transferred to the CCA, thus a zero balance is maintained.
Money Market Account and Automatic Investments
The company establishes an imprest balance for CCA. All excess balances are transferred automatically to a Money Market Account on a daily basis. When funds are needed in the CCA, the money is automatically transferred back into the CCA.
Account Analysis Statement
On a monthly basis, your company will receive an Account Analysis Statement through which you can obtain a detail of the services and products rendered by the Bank. An Earnings Credit Rate (ECR) will be applicable to average available balances as a credit to compensate for monthly charge for services.
This service offers the option to receive your commercial account statement quickly, safely and in electronic PDF format through secure mail. You can view your account statement in your PC, print it and save it in your system. You will receive your account statement by the fourth business day after the cut off time of your account. This service is completely free when you replace the current printed statement for the electronic format.
Enhance cash control and money management. Reconciling your account in less time should help reduce errors and detect potential fraudulent activities. Clients may select from among various options, according to their particular needs:
Your company provides a file with all issued checks. The bank then matches the information on issued checks with the information that appears in the statement of that cycle and then reconciles your account. We provide you with a list by check number in ascending order, amount, and date paid. It includes a complete report of all checking account transactions listed daily, weekly, bi-monthly, and monthly.
At the end of each cycle, you will receive all paid checks, sorted by number, a file listing all checks paid, and various reconciliation reports. Paid checks will be listed in ascending order by check number, amount, and processing date.
This service is designed for business with multiple units, departments, or salespersons that deposit in any of our branches throughout the Island. It provides information on all deposits by location, amount and date, and other debits and credits. The company orders pre-coded deposit slips for each unit or salesperson, according to its needs and specifications. Electronic fund transfers through the POS will be registered and identified by the unit name, according to the merchant number or location number in each unit.