One Bank Satisfied the Accounting Requirements of a Physician Office

CPA Melanie Geist is a shareholder at Ridout, Barrett & Company, a San Antonio-based financial services firm. Ridout, Barrett & Company provides accounting, tax management, valuation, advising, computer consulting, and human resource consulting services.


“Our philosophy is that our business customers are great at their core competency, so they should outsource their accounting and administration and not have those duties that take valuable time away from what they do best,” notes Melanie. “Our clients can spend their time earning money, and we can manage their finances for them.”

Melanie’s role as an outsourced controller to a professional group with 40 physicians had her searching for the ideal solution for bill pay and account management, without associated high monthly costs. The challenges of her multi-physician client included multiple doctors tied to one account and the delegation of permission to various staff members for different functions within the accounting cycle. “My client was using Bank of America and our staff members paid their bills. I would log on to the account site to pay their bills and charge them a fee for performing that task. I thought there had to be a better, more efficient way to manage the bill pay procedure and after meeting the professionals at Business Bank of Texas, found out there indeed was a better way.”

Melanie researched the service offerings and fees at Bank of America, Capital One, Wells Fargo, and Business Bank of Texas, N.A. The Business Bank of Texas was the only bank that offered a product with the exact bill pay functionality the medical practice needed, without high monthly account minimums and fees.

“Business Bank of Texas was the one bank out of four researched that offered ideal products for online access and account processing for a client this size”, Melanie explained. “Other banks required awkward processes and/or charged prohibitively high monthly fees.” She shared additional details regarding the three other banks researched and their bill pay and service fee restrictions:

Bank of America - Was not capable of offering bill pay from different accounts. The concession they offered was automated check handling. Additionally, to avoid service fees, a minimum $500,000 balance was required.

Capital One - Offered services similar to Bank of America, but, the minimum balance to avoid monthly fees was $5,000,000.

Wells Fargo - Offered services with specific processes required by the bank. Their bill pay product mandated a dual control procedure with one person entering the payments and someone different approving payments, and also required the bookkeeper’s name to be listed on the account. The bank’s suggested solution workaround was to open a separate account in the bookkeeper’s name and allow fund transfers from five different accounts for bill payment; however, that solution would not have worked for this client.

The Solution

Bill Pay from Business Bank of Texas, has been configured to meet her client needs without exorbitant fees. “With the selected solutions from Business Bank of Texas, we were able to install dual controls, view multiple accounts under one profile and have as many users as necessary. We were also able to delegate and assign permissions where needed and all with no service fee. We easily configured the electronic bill payment option to automatically pay recurring bills. When we banked with Bank of America, we had no way to verify outstanding checks. The product from Business Bank of Texas allows us to see outstanding checks and we receive a standard alert providing us the option to stop the payment and re-issue their check.”

As a financial professional who regularly interacts with many financial institutions, Melanie finds working with Business Bank of Texas efficient, professional, and personal. “I have cell phone numbers for the people I work with at the bank, and I can immediately get issues resolved. Business Bank of Texas is one of the best professional relationships I have.”

Ed Lette

Business Bank of Texas

Ed Lette is a Founder of Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

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