Online Account Management
Safe, Reliable, Intuitive, and User Friendly are just a few adjectives that can be applied to BRIDGE, Bankers’ Bank of the West’s on-line banking system. It is the one portal that will meet all of your transaction needs.
BRIDGE provides you with multi-layered authentication to strengthen the overall security of internet-based services. Dual authentication is also required for transactional applications, strengthening BRIDGE security even more.
BRIDGE is delivered from clustered enterprise servers across redundant Internet backbone connections. Your connections are fast and immediate, making BRIDGE available whenever you need to get your business done. No special software, dial up lines, or modems are required.
Report capabilities for wires, ACH, and other services comes as a standard feature with BRIDGE. Many customers export reports and transactions to core systems and BSA software to reduce data entry time. In addition, Advices, Statements, Bank Card Activity, Safekeeping, Federal Funds Notices, and Wire Transfer notices are available through the Reports application.
Moving from service to service in BRIDGE can be as easy as a click of a button, saving you time and frustration. Applications available on BRIDGE include:
- Account Balances
- Cash Letter (Domestic & International)
- Fed Funds
- File Import/Export Capabilities
- International Currency & Drafts
- Vault Cash Orders
- Wires (Domestic & International)
If you already have a primary online account management system (i.e. FedWire), BRIDGE can be utilized as an economical backup system. In times when your primary system is down you can send time sensitive activity through BRIDGE to keep your customers’ cash flowing as expected.
BBW’s correspondent banks serve their customers cash management needs to initiate and receive automated items by utilizing BBW’s ACH platform through BRIDGE, BBW’s electronic portal. BBW offers FedACH SameDay Service allowing processing and settlement for ACH items during the current processing day. BBW correspondent bank customers may originate transactions, upload files, create, edit and update amounts for recurring transactions, with OFAC compliance and dual approval for processing files built into BBW’s ACH platform. ACH Risk Management allows you to establish and monitor daily limits for your originators and SEC code restrictions.
ACH files may be loaded in advance, then warehouse in BRIDGE for automatic release prior to the effective entry date. BBW offers a file transfer portal service allowing you to automatically upload or download files from BRIDGE to your core processor or core processor to BRIDGE. Banks may view and search daily incoming and outgoing files from Federal Reserve Bank and generate automated returns and Notifications of Change. Sign up for FedPayments® Reporter Service through BBW to search files for return items, IAT entries, EDI messages including health care remittance trace numbers and distribute the information within your bank or to your cash management customer.
Utilizing BBW as your correspondent bank will increase staff productivity and boost the bottom line through our image cash letter processing service. Banks experience the benefits of competitive transaction pricing with increased funds availability, secure file delivery, duplicate file detection, ease of cash letter item adjustments, and BBW’s experienced correspondent bankers and operations team to assist you with your everyday correspondent banking needs.
Receiving your Fed incoming clearing items through BRIDGE allows you to process return items back to the Bank of First Deposit, originate large dollar return notifications and process check adjustments.
Place currency shipments and orders to Federal Reserve cash vault through BRIDGE eliminating the need to maintain a separate account at Federal Reserve Bank.
Fedwire 3rd Party Wire Transfer Service
Streamline receiving wire transfers with Fedwire 3rd Party Wire Transfer Service Arrangement by designating BBW as your service provider for wire transfers. This allows your incoming wires at Fed to be automatically transferred to your BBW account with wire detail information available in BRIDGE.
Security, efficiency and compliance are the heart of BBW’s electronic portal referred to as BRIDGE. Through BRIDGE our Community Bankers receive and send domestic wire transfers for their customers with OFAC compliance capabilities, interface wires with your core and cash management systems (upload/download capabilities), repetitive wire modules, and access to historical information. In addition, you can build reports to export to your BSA software. BBW’s dual approval built-in security measures, require approval from a user other than the individual who submitted the wire transfer. BBW’s wire transfer team can assist you by performing research on wires or confirming routing details provided by your customers.
Check Collection & Processing
Foreign checks may be cleared through BBW using forward collection processing. Provisional credit is provided.
Foreign checks may also be cleared through BBW using a collection process. Final credit will be provided when the paying bank passes credit. Using the collection process is a more secure way of clearing a foreign check.
Bankers’ Bank of the West is pleased to offer Imaging of Canadian Items, a solution that:
- Speeds up collection turnaround, avoiding mail delays.
- Eliminates concern over the location or potential misplacement of physical items.
- Reduces mailing/shipping expenses.
- Utilizes scanners, which the community bank may (or might not) already own.
- Automatically scans – through BRIDGE – items against the OFAC and SDN list, simplifying compliance.
BBW has a knowledgeable and experienced international processing staff. They are happy to answer any questions you might have regarding the best way to clear foreign checks.
Placing orders for foreign currency on BRIDGE is a snap, making it easy to arrange currency shipments to any branch, specify denominations desired, and order multiple currency types in one streamlined process.
Placing orders for foreign drafts on BRIDGE is quick and simple. Drafts are written on accounts in the beneficiary’s country and available in numerous currencies.
Security, efficiency and compliance are the heart of BBW’s electronic portal referred to as BRIDGE. Through BRIDGE or by calling BBW’s wire transfer team, our Community Bankers send and receive international wire transfers in more than 70 currencies. Interface wires with your core and cash management systems (upload/download capabilities), templates for repetitive wire modules to save time and maintain accuracy and consistency, OFAC compliance capabilities and access to historical information. BBW’s dual approval built-in security measures, requires approval from a user other than the individual who submitted the wire transfer. The Dodd-Frank-compliant consumer wire transfer solution automatically generates consumer disclosure. BBW’s wire transfer team can assist you by performing research on wires or confirming routing details provided by your customers.
Federal Funds Sales, Purchase Line of Credit, & Excess Balance Account (EBA)
Excess Balance Account (EBA)
During the financial crisis the Federal Reserve started paying interest on excess reserves and continues this program today. Designate BBW as your EBA agent and we will hold your excess overnight funds at the Federal Reserve. Amounts over $10,000,000 earn full interest at the Federal Reserve, amounts under $10,000,000 earn 3 basis points under the Federal Reserve interest rate. We pay interest daily on EBA sales versus weekly interest payments at the Fed.
Federal Funds Purchase Line of Credit
BBW provides unsecured and secured Fed Funds Lines of Credit to Banks subject to credit underwriting. Fed Funds purchases are a tool to provide short-term liquidity source to your bank. We allow up to 15 consecutive purchases before requiring the line to be rested or secured. Like all fed funds lines, funds are on an “as available” basis. Rates are posted in BRIDGE and can be emailed to you daily.
Federal Funds Sales
BBW manages, as agent, a federal funds pool to provide you a competitive overnight return and diversification. By combining your excess funds with other banks, we trade in large blocks to multiple large banks in the national fed funds market. BBW’s loan committee vets these institutions for safety and soundness then approved institutions are placed on Exhibit A of our Fed Funds Agency Agreement. These banks are reviewed and Reg F is updated quarterly and posted to our site to help you comply with Reg F. If you do not approve of a bank on the exhibit, you have the option of restricting your funds from being sold to that institution. Rates are posted in BRIDGE and can be emailed to you daily.
No matter where you process your operational services, BBW can be a central point to settle funds from the Federal Reserve and have files delivered from/to multiple providers. This simplifies your overnight cash management and best of all there is no daylight overdraft at BBW.
- With BBW designated as your settlement bank at Fed, there is no daylight overdraft at BBW!
- Sweep (optional). Establish a peg balance for your BBW account and have the remaining funds automatically swept to Fed Funds/EBA. In the case of a shortage in your account, funds will be swept from your Fed Funds Line of Credit to your account. No overdrafts for sweep customers within their LOC!
- The funds in your DDA with BBW earn credits toward any analysis charges from BBW and furthermore, if BBW is designated as your agent at Fed, Fed fees will be included in your analysis statement and can be offset by earnings credits. The more you keep in your DDA, the lower your hard dollar charges.
To get the information you need on any services through Bankers’ Bank of the West please contact us.
1099 Eighteenth Street
Denver, Colorado 80202
2935 Pine Lake Road
Lincoln, NE 68516