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Checks for Controlled Disbursement are presented for payment once a day. Flagstar captures presentment totals and reports payment detail to your company through Business Online Banking for easy account reconciliation. The Controlled Disbursement account is kept at a zero balance, and is automatically funded from your concentration account. Checks are paid at the same time each day, eliminating the potential for overdrafts.
Early notification of funding needs helps you maximize the return on idle funds. By reviewing your presentment report earlier in the day, your company can invest excess funds and optimize your working capital.
To learn more about Controlled Disbursement, contact your Relationship Manager or call a Treasury Management Consultant at (888) 324-4100.