Adapting is part of running a successful business. If you have yet to enroll in Online Banking or download a mobile banking app to manage your business accounts, now is the time to make it happen. Aside from time saved, going digital stands to benefit you and your business in several ways. Familiarize yourself with the perks, then contact your financial institution’s Business Services team to get started.
3 advantages of Online Banking for businesses
1. Convenience
Time is money. The half hour or more you spend driving to a local branch, waiting a few minutes for a teller, then driving back to your home or business could be better spent with customers or strategizing for the future. Thankfully, Online Banking and mobile banking keeps your business accounts accessible and allows you to complete management tasks at your fingertips. Whether that’s transferring money between a business checking and savings account or making a loan or credit card payment, you can get it done with Online and mobile banking.
2. Accessibility
You’ll always know account balances when they’re a few clicks or taps away. All you need is a computer, tablet, or smartphone to gain access. This is likely technology you already have on hand for your business, allowing you to modernize banking practices at no additional cost. The best banks and credit unions also offer free Online Banking and mobile app access–just be sure to confirm your financial institution is one of them!
3. Security
Many financial institutions use secure technology to keep your accounts safe. Often, this includes features like multi-factor authentication, which requires you to enter your login information in addition to a code sent via email or by phone. This extra layer of protection ensures your business funds are safe even if login information gets compromised.
Once you’re enrolled in Online Banking, you can also opt to go paperless and sign up for eStatements, which puts two years’ worth of financial transactions at your fingertips. Not only is this convenient, but it also curbs your business’ fraud risk. That’s because there’s no paper statements for criminals to attempt to steal from your business or personal mailbox.
Don’t wait to take advantage of the benefits of Online Banking or mobile banking. If you’re already a business member of General Electric Credit Union (GECU) you can contact the Business Services team to enroll. Once approved, you’ll be able to manage multiple users, transfer funds, make loan or credit card payments, manage and approve business transactions quickly, and much more.
