CASH MANAGEMENT
BRIDGE
/ Cash Management
Notice on Coin Deposits and Coin Orders containing pennies:
A Coin Depot is an outsourced arrangement with a vendor that provides coin services to Federal Reserve Bank customers instead of those customers accessing the Federal Reserve Bank dock. This program complements, and does not replace, the coin terminal program and may be operated by an armored carrier (AC) or non-AC entity.
The Coin Depot Service providers have notified the Federal Reserve that they will discontinue accepting deposits and fulfilling orders that include pennies. Not all Coin Depot providers will be discontinuing their services; this decision depends on the region, and we do not have a list of those providers or the areas they serve.
Due to the uncertainty of which Coin Depot provider services your bank, we recommend that if you have an order and or deposit that contains pennies, you separate the pennies order/deposit to prevent your entire order/deposit from being rejected.
If you have questions about how this will affect your shipments to the Fed, we recommend that you reach out to your armored carrier for guidance.
Our Services
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Federal Funds and Sweeps
To maximize efficiency, capacity, and security, your institution needs to be able to rely on a partner with extensive experience in handling Federal Funds transactions as both principal and agent. With Bankers’ Bank of the West, you can also count on securing the most favorable overnight rates.
Conveniently manage your bank’s liquidity needs and boost your earnings potential. Make automatic transfers to and from BBW’s Federal Funds pool with our Sweep accounts.
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International Services
When you have community roots and a global outlook, you need essential international services that are convenient, reliable, and affordable. You can depend on Bankers’ Bank of the West for all your cross-border banking needs such as wire transfers, check and currency deposits, check collections, currency & drafts, and letters of credit.
See how we cover Secure and rapid electronic conveyance, have more than 90 currencies available and much more!
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Cash Letter
With a complete array of cash management services from Bankers’ Bank of the West, your financial institution can gain a competitive edge with exceptional savings, convenience, and service.
Some of the advantages you will benefit from include: saving on the expense of FedLine Advantage® with BRIDGE, ensuring secure delivery of forward, receipt, and return files, and much more!
Connie LaChance, AAP, AFPP, APRP, NCP—VP, Education & Events, Wespay
Ian Zarac , CXI—VP, Financial Institutions
Industry updates from our trusted partners: In these articles, Ian explains how sending international wires in local currency can cut costs, speed payments, and build stronger client relationships, while Connie examines the growing threat of check fraud and outlines how banks can detect red flags and protect their customers.
ISO 20022 UPDATE
In July, BBW’s David Melton hosted a training session and shared resources to support the ISO 20022 update. We’re pleased to hear the transition has gone smoothly for our community bankers. Should you need to revisit these materials, all archived presentations and notes are available under our Education tab. As any ongoing issues or questions arise, please feel free to reach out to a member of our wires team at any time.
David Melton has accumulated 30 years of operational and customer service experience in banking. He was hired by Bankers’ Bank of the West as VP–Wire & Fed Funds Transfer.
David’s core responsibilities are managing daily operations of the wire and funds transfer area as well as performing customer support functions for BBW’s respondent bank customers. Please reach out to us for any questions regarding wires, we are happy to assist in any way we can!
Leaders in Payments
Committed to educating our community and customers
If you were to go on a wild safari, would you be comfortable risking your safety by using a rookie guide, or would you choose one that has seen every path, change, danger for over 15 years? This question applies to many aspects of this world, even the financial industry.
Debbie Wendt, SVP and Chief Payments Officer, is in charge of BBW’s federal funds, wires, international operations, and more. Cumulating over 20 years of knowledge, high level expertise and troubleshooting know-how. This is the navigator and guide you want on your journey, such as the biggest one we are all facing right now…Instant Payments.
One of her acknowledgments for her excellent involvement in the payment arena was presented to her by Wespay, the Russell L. Fenwick Award for Payment System leadership. Click the video to watch more on Debbie’s accomplishment.
The best part is she loves answering your questions and leaving you feeling like you are in good hands. Click the “email Debbie here!” button to reach out to her regarding any question you may have, including those related to FedNow.
“FedNow is not the first new service or platform launch I have experienced. I have worked through many since starting with BBW in 2000. Just like those changes in the past, we are prepared, we are cultivating solutions that fit your community banks capabilities and needs, all while ensuring an effective and safe transition.”
Debbie Wendt - SVP and Chief Payments Officer
Bankers’ Bank of the West