Property management companies often maintain large balances in checking accounts that earn banks considerable income. Many banks are open to providing services to their customers and offsetting the costs based on these balances.
Traditionally you may have experienced your bank waiving certain processing charges, and perhaps check printing charges. Well, you might be surprised that in today's extremely competitive business environment, your bank might be willing to cover other costs as well. Accounting software (and related supplies) to print checks using the MICR (magnetic ink character recognition) process is an example that we have seen clients' costs absorbed by their banker.
Let us know, and we can give you some details of the program.
by Howard Haberman, President, Howard M Haberman
Associates, Inc.
Copyright © 1996 Howard M Haberman Associates, Inc. All rights
reserved.
Revised: February 29, 2004.
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