Statewide Deposit Plus
Optimize funds availability by maintaining a single master account for multiple business locations.
Statewide Deposit Plus Accounts make it easier and more convenient for you to track your deposits to your First Horizon Bank accounts from multiple store or office locations across multiple states, effectively improving cash flow.
Product Features
- Allows individual store or office locations with First Horizon Bank accounts to make deposits by customer location and then have those deposited funds concentrated into a single master account
- 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
Product Benefits
- 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
