Are you still writing paper checks and mailing invoices? If so, your business could save a lot of time and money by going digital and using services such as remote deposit and online banking.
Trade in that checkbook for a tablet! There are a number of advantages to using online business banking, and they're all easy to set up. Plus, the time you spend getting your business into the digital realm will be a worthwhile short- and long-term investment. Here's an overview of the features involved, as well as what you can expect out of each.
Online Business Banking
If you're new to this approach, think of online banking this way: If you can conduct a transaction face-to-face with a teller, there's a high chance you can do the exact same thing from the convenience of your own laptop, tablet or smartphone. By using online business banking, your business can quickly and easily:
- Check balances
- Make online payments and deposits
Transfer funds between accounts
Save a trip (or two) to the bank
Removing the time and expense involved in day-to-day operations can be a game-changer for business owners. You'll spend less time doing everything from mailing bills and invoices to waiting for payments to process. Using BECU's Online Business Banking, for example, allows users to view all of their financial accounts – BECU and elsewhere – from the convenience of a single interface. You can also set alerts to be sent via text message or email, and Money Manager can be used to create budgets and track company spending with transaction notes. It also allows you to download your account transaction history for any BECU account or linked accounts from other financial institutions.
The days of needing to run to the bank or ATM to deposit checks are long gone, thanks to remote deposit (sometimes referred to as e-deposit). The feature allows you to use your phone's camera to take pictures of the front and back of each check and send it to your financial institution electronically.
Using this service gives you the convenience of not only depositing checks whenever best fits your schedule, but the service is free, secure, and deposits are reflected in your balance immediately*.
Need to deposit multiple checks? BECU's High-Speed Online Deposit service allows businesses to deposit multiple checks using a scanner from any Windows computer with an internet connection. You can deposit up to 30 checks at once and immediately view and access the funds once they're in your account.
In short, the advantages of online business banking will make your day-to-day operations more efficient by cutting costs and saving time. Once you get up to speed on going digital, it'll be easy to introduce the concepts to your employees.
To get started with a BECU business account and learn more about the advantages of membership visit becu.org/businessmembership.
*Availability is subject to BECU Funds Availability Policy located in Account Agreement