BANKING BY INDUSTRY

Banking for Municipalities at Partners Bank

Local government never really stops. There are payrolls to run, vendors to pay, funds to protect, and a community counting on everything to work. Partners Bank offers business banking services built around the day-to-day reality of municipal operations in New Hampshire and Maine, so your team can focus on the community rather than the back office.

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SERVICES

Services Built for Municipal Operations

Managing public funds comes with a higher level of accountability than most, and the tools you use need to match that. Partners Bank offers a set of services designed specifically for how local governments handle money day to day.

Insured Cash Sweep (ICS®)

Insured Cash Sweep (ICS®) for multi-million dollar FDIC insurance coverage

Cash Management and ACH Origination

Cash Management and ACH Origination for payroll and vendor payments

Direct Deposit and Reimbursement

Employee direct deposit and expense reimbursement origination

Account Access Controls

Control which accounts employees can access

Remote Deposit Capture

Remote Deposit Capture for check deposits without leaving the office

Online Account Review

Online account and check review

Wire Transfer Initiation

Wire transfer initiation

PROTECTION

Protect Public Funds with Insured Cash Sweep

No one wants to worry about whether or not their money is protected, especially at the municipal level when funds are relied on each day.

Through the Partners Insured Sweep, your public unit can access multi-million dollar FDIC insurance on funds placed into money market deposit accounts or checking accounts using the ICS®, or Insured Cash Sweep service.

How it works: Partners Bank is a member of the IntraFi Network (formerly Promontory Interfinancial Network), allowing us to place funds into money market accounts and Checking (DDA) accounts at other member banks, in increments less than the FDIC insurance maximum, so that both principal and interest are eligible for FDIC protection.

Placement of funds through the ICS® service is subject to the terms and conditions of the ICS® Deposit Placement Agreement. Limits and eligibility criteria apply. Withdrawals from Money Market accounts through this program are limited to six per month.

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QUESTIONS

Frequently Asked Questions

Insured Cash Sweep (ICS®) allows public units to access FDIC insurance beyond the standard limit by distributing funds across multiple member banks through the IntraFi Network. You work only with Partners Bank and receive a single statement covering all holdings.

Yes. With Partners Bank, you can establish user rights so staff members can view designated accounts and perform specific functions, which is useful for managing access across multiple departments.

Yes. Through Cash Management with ACH Origination, you can originate payroll direct deposit and expense reimbursement files for your workforce.

Remote Deposit Capture uses a desktop scanner connected to your PC to let you deposit checks electronically without a trip to the bank. It's available for municipalities handling regular check volume and reduces the risk of deposit errors.