Bank Deposits and Collections

Bank deposits refer to the act of adding money into a bank account, such as cash or checks, which the bank then holds on your behalf. Collections involve the bank processing and collecting payments or checks on your behalf, making funds available in your account once collected. For businesses, these processes help manage cash flow efficiently, ensuring funds from customer payments are safely received and accessible for operational needs. Both deposit and collection services facilitate smooth financial transactions and maintain accurate, up-to-date account balances.