Identify two cash mangement products, and provide a short description of each.

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Asked 7/26/2010 10:53:47 AM

Updated 7/15/2023 12:47:56 AM

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User: Identify two cash mangement products, and provide a short description of each.

Weegy: Account Reconcilement Services: Balancing a checkbook can be a difficult process for a very large business, [ since it issues so many checks it can take a lot of human monitoring to understand which checks have not cleared and therefore what the company's true balance is. To address this, banks have developed a system which allows companies to upload a list of all the checks that they issue on a daily basis, so that at the end of the month the bank statement will show not only which checks have cleared, but also which have not. More recently, banks have used this system to prevent checks from being fraudulently cashed if they are not on the list, a process known as positive pay. Advanced Web Services: Most banks have an Internet-based system which is more advanced than the one available to consumers. This enables managers to create and authorize special internal logon credentials, allowing employees to send wires and access other cash management features normally not found on the consumer web site. Armored Car Services (Cash Collection Services): Large retailers who collect a great deal of cash may have the bank pick this cash up via an armored car company, instead of asking its employees to deposit the cash. ]
Expert answered|mythmoh|Points 2651|

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Asked 7/26/2010 10:53:47 AM

Updated 7/15/2023 12:47:56 AM

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KuyaBert_09

The two cash mangement products, and provide a short description of each.
1. Cash Sweep Accounts: Automatically move excess cash to optimize management and maximize returns.
2. Money Market Funds: Low-risk investments providing liquidity and competitive yields.

Added 7/15/2023 12:47:36 AM

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Deleted by KuyaBert_09 [7/15/2023 12:47:57 AM], Unflagged by KuyaBert_09 [2/23/2024 5:29:55 AM]

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Added 7/15/2023 12:47:56 AM

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