Statewide Deposit and Statewide Deposit Plus Accounts make it easier and more convenient for you to track your deposits to your First Tennessee account from multiple store or office locations across multiple states, effectively improving cash flow.
- Allows individual store or office locations with First Tennessee accounts to make deposits by customer location and then have those deposited funds concentrated into a single master account. This is accomplished by opening one account (Statewide Deposit) or multiple accounts (Statewide Deposit Plus).
- Each store location is included in all electronic balance reporting data.
- A single periodic (daily, weekly, or monthly) statement is provided with the activity identified by location.
- Improved control and security – Account provides an independent record of activity at each location and a master account for centralized funds management.
- Accurate and timely information – Your account information is reported daily in a single BAI file with transactions identified by location.
- Increased efficiency – The ability to track deposits by store location number decreases extra work required when this service is not in place.