Controlled Disbursement Account

Want the ability to project your company’s daily financial position with better accuracy? The UMB Controlled Disbursement Account is a useful cash management tool that helps minimize your idle balances and put your excess cash to work.

How It Works

UMB starts by establishing your Controlled Disbursement Account. Once the account is set up, you will receive notification of the funds needed for your presented checks early each business day. This will help you with short-term cash flow forecasting. The final check presentment occurs early each day so you can receive notification of your daily check funding requirements by 10 a.m. (CT).

The Controlled Disbursement Account always maintains a zero balance. The exact funds needed to cover the disbursements are automatically transferred to your Controlled Disbursement Account from your primary UMB account.

Features

  • The Controlled Disbursement Account controls the timely presentment of checks with a unique transit routing number assigned to your account.
  • The account is funded through a zero balance arrangement with a parent account. Therefore, peg balances are not required in the disbursement account.
  • The account will accept ACH transactions. This allows you to further consolidate all of your company's disbursements including payroll.
  • A full range of reconciliation services is available, including full account reconciliation, positive pay and reverse positive pay.
  • Check detail information is available intraday via UNITEPlus®, our Web-based information reporting system.
  • Images of checks are available on CD-ROM or via UNITEPlus.

Benefits

  • This service assists you in facilitating your decisions regarding short-term investments, borrowing or other daily cash requirements.
  • Early notification will allow you to take advantage of prime investment deadlines and maximize your investment income.
  • You can control cash balances by timing the outflows and utilizing the disbursement float.
  • Zero balance account arrangement allows you to use funds that might otherwise be left idle.
  • When used in conjunction with Account Reconciliation services, the Controlled Disbursement Account will help increase efficiencies in monitoring and reconciling your disbursements and may help reduce fraud.

Questions? Contact us for more information about the UMB Controlled Disbursement Account.