Competitive, comprehensive solutions
Through our dedication to personalized customer service and carefully tailored correspondent solutions, Bankers' Bank of Kansas provides competitive, comprehensive service to the community banks of Kansas. Thanks to devices such as ABIL, our proprietary communications network, and our tri-party agreements with the Federal Reserve, BBOK can improve use of your funds, save you substantial time and money, and increase your cash flow. Consolidating your settlement activity with us minimizes a labor-intensive area of your own operations department, streamlining its functions, creating widespread cost containment, increasing efficiency, and reducing or even eliminating competitive fees. Most importantly, however, making BBOK your correspondent gives a complete picture of your needs, enabling us to provide you with the most comprehensive, customized service necessary to maximize your profitability.
- Cash Letter
- Your daily cash letter is sent directly to the Federal Reserve Bank of Kansas City for our credit for your use. The Cash Letter is prepared in accordance with Federal Reserve Bank requirements and is totaled on their transmittal sheets which are provided to your bank. Cut-off time for receipt of your Cash Letter by the Federal Reserve Bank is 11 p.m. All Kansas and western Missouri items received by that deadline have immediate availability the following morning. Your Cash Letter may be sent to the Federal Reserve Bank encoded or un-encoded; however, un-encoded items do carry an additional charge and the availability deadline advances to 10:00 p.m.
- Cash Management
- The Federal Reserve Bank of Kansas City will notify us daily of Cash Letters received and the availability for those Cash Letters. We will calculate your collected balance, taking into account the information provided by the Federal Reserve and any other charges or credits about which we have been notified. We calculate a target balance for your bank's account monthly based on the activity from the previous month. This target balance will be subtracted from your collected balance daily and any excess will be placed in our Agent Federal Funds Pool in $1,000.00 increments. If this calculation results in a negative figure, your balance in our Agent Federal Funds Pool will be reduced to bring the account balance to within $1,000.00 of the target level. Entries to the Agent Federal Funds Pool may be adjusted if you have additional transactions of which we have not been notified. This service allows your bank to be fully invested in the Agent
Federal Funds Pool with a minimum effort on your part.
- Wire Transfers
- BBOK is on-line with the Federal Reserve system via the FedLine network. Our wire transfer day begins at 9:00 a.m. with a cut-off time for incoming and outgoing wires at 4:30 p.m. CST. Any incoming wires and outgoing wires received after 4:30 p.m. will be handled the following business day.
- Other Available Services
- Among the other services available to BBOK clients are ACH Services (Settlement, File Delivery, Origination, Import, Returns, and NOCs), MICR Delivery, Large Dollar Returns, Coin & Currency ordering, Series EE and I Savings Bonds, and Treasury Tax and Loan Entries (EFPTS), International ACH and International Checks. Separate agreements are required for these various services.
For more information about any of our Correspondent Services, contact Lisa Valentine or Ann Sathngam, at 1-800-999-5725.