We can help show you ways to speed up your receivables, slow down your payables, and ensure surplus cash is generating revenue instead of sitting idle. The right cash management strategies and products can help you find the money to enjoy a healthy cash flow.

Here are some useful tips:

• Speed up your receipt of cash
  Encourage your customers to use credit cards and/or direct payment to pay you.
  
  
  • Processing payment cards is quick and easy for you and your customers.
    
  • Receive next day value without the need to handle cash and cheques or make bank deposits. Set up pre-authorized transfers from your customers for recurring payments such as bill payments, subscriptions and membership fees. This eliminates the time-consuming process of collecting, reconciling, and depositing postdated cheques.

Working with our preferred supplier, Paymentech Canada, you can access the right merchant services solution for your business whether you serve customers over the counter or online.

• Slow down your outlay of cash
  Consider using a Scotiabank VISA* Business Card for purchases or to pay suppliers. It reduces the number of cheques you write and you can take advantage of the full 26-day grace period. You get up to 1% cash back on all your purchases.
  
  
• Put surplus cash to work for you
  Newly discovered cash should be generating revenue. You can earn interest on surplus cash and still have your funds readily available with a Money Master for business™ savings account. Earn a competitive rate of interest from the first dollar saved, with the flexibility to withdraw your funds when you
  need them.
  
  
• Make provisions for cash shortfalls
  Every business experiences periods when cash paid out is greater than the cash received. Planning for cash shortfalls ensures you avoid embarrassing surprises that could affect your business’ reputation. Our Overdraft Protection for business™ is an effective solution that can be put in place before a cash shortfall occurs.