Managing a successful business in today’s fast paced environment requires a banking partner with safe, reliable and time saving solutions. As an example: Rondout Savings Bank offers some of the area’s most competitive merchant account rates in the area.


Business Money Market Sweep Service

Our Business Money Market Sweep Service allows you to make the most of excess funds by earning interest rather than letting funds remain idle in your checking account. You can set a target balance for your checking account, and any daily balances exceeding this target are automatically transferred to an associated interest earning account.

How Does it Work

  • Each day, the funds are seamlessly transferred from the qualifying interest earning account to the qualifying business checking account when the funds fall below the target balance
  • The target balance is set by the customer
  • Interested is credited to your qualifying interest earning account on a monthly basis

The service is only available to business customers and may not be used for personal, family, or household purposes.

Schedule an Appointment

 

Positive Pay

Positive Pay is an anti-fraud tool that detects and prevents fraudulent check transactions. Through Positive Pay you can submit your business check register through Online Banking. Positive Pay matches the account number, check number and dollar amount to each check that is presented for payment.

How Does it Work

  • Each day, checks will be marked as an “Exception Item” if the check:
  • Is not listed in the check register that was submitted.
  • Is a duplicate of a previously paid item
  • The check has a Stop Payment in place
  • The check is listed as Voided within the check register
  • Has a different dollar amount than what is listed in the check register
  • Does not have a check number or does not match what is listed in the check register.

Checks that are listed as an “Exception Item” can be viewed by the customer to determine if the check is fraudulent. After viewing the check, the customer can decide to pay or return the item.

 

Schedule an Appointment

 

Remote Deposit Capture

Remote Deposit Capture allows you to scan checks and transmit scanned images to Rondout Savings Bank for posting and clearing. Save time by not having to send an employee to one of our branches to transact business. The basic requirements for this service are a PC, an internet connection and a check scanner. Checks you receive at your location can be scanned to create a digital deposit. This digital deposit is then transmitted over an encrypted internet connection to Rondout Savings Bank for clearing and posting.

What’s required?

  • An active business checking account with Rondout Savings Bank
  • Adequate secure storage for imaged checks
  • A scanner, which we provide
  • A PC with Windows 8.1 or 10
  • A high speed Internet connection
Schedule an Appointment

 


 

Merchant Services- Customer Payment Solutions

Our payment solutions are designed to enhance customer satisfaction, reduce costs, and streamline operations — all backed by trusted service and transparent pricing. We help you build a smarter, faster, and more reliable payment experience from start to finish.

Learn More Here


 

Automated Clearing House Services

With ACH, businesses can make electronic funds transfers from the convenience of their desktop. This service allows you to create, upload, import and submit ACH files to Rondout Savings Bank for further processing.

Features

  • Easily execute debit / credit functions
  • Offer your employees direct deposit payroll*
  • Provide your customers with direct debit billing
  • Have membership dues debited from customers
  • Create ACH formatted files within Internet Banking or upload files to Internet Banking from your existing software

*Not a payroll services provider.

Schedule an Appointment

 

Switch Kit

Make the switch to Rondout Savings Bank, always working for you and our community. We make the switch easy! Click the link to download the full:

SWITCH KIT

Step 1 Get Organized
  • Open a Rondout Savings Bank account.
  • Review your last few statements and identify all automatic payments and automatic deposits.

Keep in mind that not all automatic payments that you have previously established occur on a monthly basis. For example, insurance payments, some utilities and federal and state tax returns/payments can occur on irregular intervals such as bi-monthly, quarterly or even an annual basis.

Step 2 Move Your Direct Deposit & Automatic Payments
  • Prepare to move your direct deposit by using the Direct Deposit Information Sheet.
    • You may be asked to fill out an additional form by the company making the direct deposit.
  • To transfer social security direct deposits, you can either call Social Security Administration at 1 (800) 772-1213 or visit the Social Security Official Website.
  • Set up new automatic payments. You can use the Authorization to Change Automatic Payments Letter, or consider Rondout Savings Bank Online Banking with free bill pay as an alternative that gives you more control over your money.
  • If you are setting up more than one automatic payment, make additional copies of the Authorization to Change Automatic Payments Letter for each automatic payment.
    • You may be asked to fill out an additional form by the company making the automatic payment.
Step 3 Close Your Old Account
  • Confirm all checks have cleared and all automatic payments have been transferred to your new account. Leave sufficient funds in your former account to cover any outstanding checks or pending automatic payments.
  • Complete the Account Closure Request Letter and send it to your former financial institution. Some financial institutions may require you to fill out additional forms. If your account is an interest-bearing account, request to have your accrued interest paid prior to closing.
  • Destroy any unused checks, ATM/debit and credit cards, and deposit slips associated with your former accounts. We can destroy them for you if needed.
  • Start using your new Rondout Savings Bank account exclusively.
Step 4 Keep Copies for Your Records
  • Remember to keep a copy of all documents, letters and forms for your personal records.
Step 5 Transfer Other Accounts
  • Consider making your financial life less complicated by transferring other accounts to Rondout Savings Bank. We offer a complete line of banking products including mortgage services. With all of your funds in one place, your banking will be easier. Our banking team will be better able to help you manage your finances and find ways to make your money work harder for you.
  • Call us at (845) 331-0073, or visit one of our branches and we will be happy to assist you.

 

Online and Mobile Banking

With Rondout Savings Bank’s Online and Mobile Banking service, you have the freedom to access your accounts when you want and where you want. This great service provides convenience and flexibility to access your accounts 24 hours a day, seven days a week!

FEATURES

  • Check Balances
  • eStatements
  • SPIN
  • Bill Pay
  • Debit Card On/Off
  • Manage Alerts
  • Budget