You may have seen our recent blog and social media posts about Real Time Payments and thought, “How does that help my business?”.
Historically, businesses have been handcuffed by the Monday through Friday, 8am to 5pm limitations of the traditional funders of commerce – checks, wire transfer and ACH. RTP® allows for 24/7 access to send or receive funds; no need to wait until morning or the next business day to fund your company, client, or employee needs. This blog post highlights a few business categories that might benefit from the improved cash flow and precisely timed payments in real time through the RTP® network at DCB.
Insurance Companies frequently disburse funds to clients affected by tornados, floods, hurricanes, fires, and other disasters. Unfortunately, these disasters don’t operate on a traditional business schedule and money for hotels, car rental, food and clothing are immediate needs for those who’ve experienced a loss. The timeliness and responsiveness of the RTP® network gives these companies the tools to get their clients the money they need to start putting their lives back together.
Not only do disasters not wait for the bank to open, today most categories of business are no longer simply Monday through Friday operations. Some businesses require chartering private aircraft to have an important meeting or close a big deal. For an air charter business that gets a last-minute, weekend request from a new client, previously the only option would be to accept payment via credit card. However, the large fees associated with this transaction make this a less than ideal scenario. With RTP®, the charter flight could be paid for on the weekend, more conveniently and more economically than other funding sources.
While only a small percentage of businesses require travel via chartered aircraft, a much larger number of companies have employees who travel via train, car, or commercial aircraft to conduct business. Some circumstances, such as a lost credit card or extended travel, may require the travel stipend or reimbursement for travel and entertainment expenses to be funded in real time. RTP® at Dallas Capital Bank is an efficient solution for both employee and employer.
Dallas Capital Bank’s full RTP® (Real Time Payment) capabilities improve the flow of commerce in the digital economy. RTP® allows for improved cash flow with precisely timed payments in real time, anytime. Transactions are streamlined through two-way communication providing relevant information to both parties and immediate availability of funds. Dallas does business in real time, and now you can, too, with RTP® at Dallas Capital Bank.
Dallas Capital Bank is proud to be a leader in adopting technology solutions that provide the most convenient, efficient, and cost-effective results for our clients. We expect the addition of the RTP® offerings to be part of a suite of payment options, rather than eliminating the need for ACH or wire services. In addition to this commitment to technology, our bankers are well-versed and well-educated in helping you position this offering to best serve your business.
Dallas Capital Bank Member FDIC