Small Business Online Banking

An easy-to-use, convenient and time-saving online banking platform with features specifically designed to meet the financial needs of small businesses, organizations and ag operations. It's smart, simple and seamless.

Time-Saving: Expand/Collapse

"You can delegate certain functions to your employees, bookkeeper or accountant."

- The delegate function allows you to assign:

  1. Initiator access to a designated user of your choice, like an employee or bookkeeper where they can view details, initiate transactions such as a bill payment, a transfer of funds or an INTERAC e-Transfer†. Business owners approve or reject these transactions.
  2. Read-only access to a designated user of your choice, like an accountant where they only view information and do not have access to perform transactions on your account. For example, you may only want your accountant to be able to view transactions and financial information.

- You can easily set up your delegates within the Small Business Online Banking system 24/7. Delegates receive their own user login ID and password. Your delegates will only have access to the information you choose.

"You can save time by being able to log into your personal and business accounts with one login ID."

- Account consolidation gives small businesses, organizations and ag operations the power and convenience to view and perform transactions in their personal and small business accounts, using a single login ID.

- Only the business owner sees the consolidated account. If you choose, you can give your delegate access to your consolidated account.

Convenient and Streamlined Processes: Expand/Collapse

"You can easily set up and use Small Business Online Banking."
- Whether you are upgrading from MemberDirect® Online Banking or registering for Small Business Online Banking for the first time, it is quick, easy and convenient for you to manage your business' banking needs online. You will have all of the same information as in personal online banking — and more. Give us a call to get signed up today!

"You can perform a variety of business banking functions through Small Business
Online Banking."
- Within Small Business Online Banking, you are able to:

  • Manage your delegates:
    • Create and set up delegates as Initiator or Read-only, which provides them with their own login ID and password so they can log in separately.
    • Add/modify delegate(s) securely and easily.
    • Unlock your delegates (or change their password) if their account is locked through entering the wrong login information three times (or if they forget their password).
  • Consolidate accounts so you can see personal and business accounts with just one login.
  • Set up dual signers on business accounts that require two people to approve transactions. (You can have as many signers as the organization requires, but you only need 2 to sign for dual-signature approval.)
  • Manage your accounts anytime; anywhere through mobile access with our Mobile Banking App and Mobile Web Banking (this option is only available for signers. Delegates can only access Small Business Online Banking through the full website).
  • Pay your federal taxes online to the Canada Revenue Agency.
  • Make immediate or scheduled bill payments, transfers. (Delegates can initiate the transaction, and the signer can approve or reject these transactions.)
  • Send and/or receive an INTERAC e-Transfer.
  • Create a similar transaction (based on previous transactions) to reduce the amount of steps to make the same transaction.
  • Manage your Small Business Alerts (set up required) to stay informed when you need to approve transactions in the account (Transactions Pending Approval) or when transactions are about to expire (Transactions About to Expire). You can receive and view Small Business Alerts by email or text message. (Text messaging rates may apply.)
  • View e-Statements and cheque images – free-of-charge.
  • Check rates or branch information.

"You can streamline transactions with dual signature support."

- The dual signature feature allows at least two people to approve any single transaction.

- If you have more than one signer on the account, this function allows one signer to initiate a transaction (such as a bill payment or transfer) on their mobile device with Mobile Web Banking, the Banking App or on the desktop. The other signer can approve or reject it.

Secure/ Confidential: Expand/Collapse

"You can rest assured your financial information is protected."
- Small Business Online Banking is protected at our highest level of security in the financial industry.

  • Signers are the only ones who are able approve and complete transactions within Small Business Online Banking.
  • You are able to decide which delegates can initiate transactions (Initiator) and which ones can just view the account (Read-only). Delegates are only able to view the information you allow.

Accessibility: Expand/Collapse

"You can access your account at any time, day or night."
- Available 24 hours a day/7 days a week.

"You can access and perform transactions for Small Business Online Banking on our full website, Mobile Web Banking and the Banking App."
- Signers can access Small Business Online Banking on all three options using a computer and/or internet-enabled tablet or smartphone. (Delegates can only use the full website to access Small Business Online Banking.)

Additional Information:

- Glossary of terms

- How to Use the Small Business Online Banking Features Guide

- Frequently Asked Questions

- Want to learn more about the features of Small Business Online Banking? View our demo videos on our YouTube page.

Who might benefit from this product/ service?

- Small businesses, organizations or ag operations in Canada looking for a tailored, convenient and easy-to-use online solution to help meet their banking needs, streamline their processes, save time and extend their access, options and preferences.

- Small businesses, organizations or ag operations who manage or have someone manage their bill payments and transfers online (e.g. bookkeeper, employee, etc.).

- Small businesses, organizations or ag operations who have an accountant who views account details and information.

- Also, it's great for small businesses that have a 2-to-sign (dual signature) approval process for banking transactions (i.e. bill payments and funds transfers between accounts). This process can be done online, and even on the go through Mobile Web Banking or on the Banking App.

Key Tools and Resources

Videos

Adding a Delegate

Adding a Delegate

Learn how to add, edit, unlock access, delete, and temporarily disable user access.

Consolidating Your Accounts

Consolidating Your Accounts

Account Consolidation allows quick access to your business and personal accounts with one login. Watch to see how easy it is to consolidate a personal account to your Small Business Online Banking.

Transaction Manager

Using the Transaction Manager

Watch to see how a delegate can set up a transaction and how you approve the transaction to complete the process.

 

® MEMBERDIRECT & Design are registered trade-marks owned by Credit Union Central of Canada, used under license.
† Trade-mark of Interac Inc. Used under license.

 

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