Cash Letter

Community Bankers’ Bank (“CBB”) Cash Letter product is facilitated with a tri party agreement between CBB, Federal Reserve Bank of Richmond, and your bank which allows CBB to accept full settlement on your behalf.

By accepting transactions on your behalf, CBB assumes all responsibility for daylight overdrafts that the posting of these entries to your account may cause. This protects the respondent bank from daylight overdraft fees or the pledging of securities to the Federal Reserve.

Benefits:

  • Maximize your financial institution's cash position
  • Hourly position reports delivered to the respondent bank via our online communication product, CBLink
  • Lower your costs, increase your funds availability, and improve earnings by having greater liquidity to invest
  • Receive earnings credits on balances to offset monthly analysis charges

CBB, along with our partner FIS’ Endpoint Exchange Network , is able to offer a complete image cash letter clearing solution through Community Bankers’ Clearing Network (CBCN). This solution offers end-to-end support for all check image exchange activity, driving cost out of the process each step of the way. CBCN can help your institution reap the full benefits of the investments you have already made in check capture and image enabled item processing.

CBCN provides your institution with:

  • Reduced clearing costs
  • Improved availability
  • Co-mingled (unsorted) cash letter support
  • Full support of Day 2 exchange (returns and adjustments)
  • Sponsored ECCHO membership

To ensure your confidence, please know that your account is continuously monitored by your CBB team of professional, dedicated, experienced, courteous, friendly, and helpful account representatives.