There’s no doubt that the internet has greatly shaped the world we live in; email often takes the place of posted mail, we stream music instead of buying records, and we manage our finances from our couch instead of heading to the bank. Internet banking saves us plenty of time in our personal lives, and the same is true of online financial services for small to medium businesses. Managing your business’s banking online will not only save you time previously spent visiting your local branch, but there are also a whole host of services that make your life as a business owner easier.
According to the 2012 ICBA Bank Technology Survey, online banking is now offered by a whopping 96% of all community banks. All of these banks offer personal account services, but many of them also have services that are specifically for small businesses, like business checking, financial planning, payroll management, and even payment processing solutions. An extra added bonus of internet banking? Many financial software programs like Quicken have the ability to be synced with your online bank account, so you can do things like download transaction history from your bank and add it to your bookkeeping.
One of the main concerns about internet banking is security, and rightfully so. Any legitimate bank will be insured by the FDIC, but you also need to make sure they are using encryption and a secure connection.
Download our guide to learn about:
• Signing up for Internet Business Banking
• Advanced Features to Look for in an Online Banking Service
• Software synchronization
• And more!