Are you taking full advantage of Minnwest Bank’s online business banking? With our online banking tools, you can handle all your business accounts from any device, whether it’s your desktop, phone or tablet. Log in to check your balances, transfer funds between accounts, or you can even deposit checks from the field. Digital banking tools also streamline invoicing and deposits, while optimizing cash flow.
At Minnwest Bank, business customers get access to all these online tools that add time back to a busy day. But unlike digital banks, you can still tap into the expertise of the community bankers that live and work in your community.
For starters, get familiar with the time-saving advantages of Minnwest Bank’s online banking tools:
Single source of truth for business accounts
With a single login, review your business balances for checking, savings and loans. Using the dashboard, review transaction histories, finance charges and future due dates. You can also transfer funds between accounts and have payments posted on the same day.
Enhance security
Fraud-proof your ACH and check payments with Positive Pay. Create an approved list of ACH vendors that are allowed to debit your account or upload an issued check file through Business Online Banking. Checks presented for payment will be compared against the check number, amount and payee information before clearing the payment. If a detail is off, the bank flags it.
[Read: Cyber thieves are trying to trick your employees into wiring money. Here's how to stop them]
Capture paper check payments quickly
If paper checks are still commonly used in your industry, digital banking has the perfect tool to capture funds quickly without driving to the bank. Depending on your volume, we have the right fit for you.
For just a few checks a month, Mobile Deposit can save you trips to the bank and get the money in your account that same day. If you have a high volume of checks, Remote Deposit Capture might be the answer for you.
Here’s how Remote Deposit Capture works:
- Use a bank-provided desktop scanner to capture an image of the check.
- The bank then converts to an image that is processed to collect the funds.
- You have until 6:00 p.m. to make deposits to your account and get credit that same business day.
Online banking offers customized access
Online banking lets you set up customized logins for employees, so they access only the accounts they’re authorized to work with. Our digital banking tools also let you set up customized dashboards for each employee, so their financial workstation is ready to go on day one. Talk to your Minnwest banker about your needs, and we’ll help you set up the perfect solution.
Online banking streamlines payments
Spend less time paying bills and tracking payments when you take advantage of our online payment tools:
ACH payment
It can sound confusing, but it’s a simple way to make payments and get payments. Automatic Clearing House, or ACH, refers to the network that sends the payment from one bank to the other. When you initiate an ACH payment, your bank transfers the funds from your account to the payee’s — or vice versa.
Bill pay
When the payee can't accept digital payment, no problem. With bill pay, just enter the payment information, and the bank mails a paper check on your behalf. The checks clears as if you wrote it yourself; when the payee cashes it.
Payment scheduling
Using the scheduling tool, you select a one-time payment or a recurring payment. Gaining the ability to lay out your entire payment schedule each month lets you pay on time, while staying in control of your cash flow.
Customized business banking
These online tools are just the starting point. Meet with your banking professional at Minnwest Bank, and we’ll show you how to optimize our online banking features to meet your unique business needs. We live and work right in communities throughout Minnesota and South Dakota so we’re always a visit or phone call away.
Get started with online business banking and make an appointment today.
