With today’s advanced secure encryption technology, more and more small businesses are confident doing their banking business online. Following are some tips for small businesses looking to get started in online banking:
Online banking differs from provider to provider, but a good online banking partner will offer options a la carte, allowing a small business to pick and choose which services fit its needs, instead of putting take-it-or-leave-it packages in front of customers. Standard alternatives include such options as automated bill paying, free access to personal financial consultants, Internet access and account access privileges — finding balances online and transferring money between accounts.
Look for an online banking system that does not require constant changes to dial-up settings or dial-up access numbers. A good online banking provider will usually offer standard Internet connections through their own Internet service provider (ISP), allowing customers to access their accounts while on the World-Wide Web without using special dialer software. Such a bank will have a Web site allowing customers access from any Internet connection.
If you do a lot of traveling, look for a bank that offers local access in many locations all around the country, so there’s a good chance that you’ll be able to find a local dial-up number wherever you’re traveling.
Practically all online banking services regularly schedule brief system outages for maintenance. Make sure you get published schedules of when those outages will occur. A good online service will have a “customer update” page with such information.
Don’t worry if sometimes when you log on your bank card number appears and other times it doesn’t. There are multiple World-Wide Web servers handling customer transactions for major banks’ online services, and each time you log on, a different server may handle your transactions. Only the servers you have used before will remember your card number.
If you anticipate significant business expansion, be sure to go with a bank that allows you to keep banking online even if you don’t live in a state with one of their branches. A good bank will let you do this as long as you have a valid checking account with them.
Make sure your bank has adequate security policies in place. If you report your bank card lost or stolen, it should immediately deny online services while continuing scheduled or recurring payments. Once you receive your new card, call online services with the new information to avoid double payments to payees, and arrange for all bill payments to the new number.
Follow this link to find out about Bank One’s Online Banking services.