Payments & Cash Management Solutions

Our business banking app provides the ease needed to manage your finances on the go. All you need is your M&F Bank business online banking username and password and a mobile device that can download the app, access the web, and have text messaging/SMS capability.

This option allows you to schedule one-time, variable, or recurring electronic payments. You can set up, edit, view your payee list, and review your payment history. Bill Pay reduces paperwork and costs.

This service allows you to conveniently deposit checks wherever you are without visiting the bank. You can scan your checks to create a digital deposit. The digital deposit is then transmitted (over an encrypted internet connection) to M&F Bank, where we accept and post the deposit to your account.

This external fund transfer service provides easy, convenient transfer options, including:

• Direct deposit of payroll: Payroll is deposited directly into your employees’ checking or savings accounts at their banks. Direct deposit ensures that your employees receive timely deposits of their paychecks and lowers your company’s processing costs.
• Direct payment: Reduces accounts payable paperwork and costs by allowing you to make automated recurring payments.
• Returns and reversals: If entries are received or processed in error, your company can originate a return or reversal.

Positive Pay is an automated fraud detection tool designed to identify fraudulent checks and presenters. This service will match the account number, check number, and dollar amount of each check presented for payment against a list of checks previously authorized and issued by your company. Upon completing a check run, your company prepares a formatted checks issued data file (including check number, amount, date, and account information) and transmits this data to the bank.

A wire transfer is a safe, fast, and convenient method to transfer money anywhere in the USA to and from your account. Wire transfers can be initiated online or at a branch office and usually can be sent and received on the same business day.