Answers to Your Top 10 Questions About Business Online Banking: Everything You Need to Know
Business Online Banking is a great solution for managing your business accounts. It allows you to view account history, include multiple entities within one online profile, transfer funds, pay your bills and invoices online, and download your information into QuickBooks. NB Business Online is customizable to your business needs so you can save time and be more efficient.
We asked our Business Online Banking group to answer the most important questions about Business Online Banking. Read their answers below to help you understand everything you need to know about the platform. You can also download the PDF version of this article and print it out for easy access.
What do I need to get started with NB Business Online and NB Business Mobile?
To enroll for Needham Bank’s Business Online Banking and Business Mobile you can self-register online or enroll at any of our convenient branch locations.
Self-registration is available for businesses with an existing Needham Bank deposit account. Self-registration must be completed by an authorized signer and the business must report under a Federal Tax ID (not a social security number). Customers looking to enroll in Business Online Banking for either an IOLTA account or business account reported under a social security number should contact a personal banker or local branch.
Does Needham Bank have a mobile app for business online banking?
Yes, the NB Business App is available in the Apple and Google Play app stores. The app allows users to transfer funds, pay bills, deposit checks and more from their tablet or mobile device.
To log in to NB Business, please download the NB Business App and use your Business Online Banking Credentials. Our app is compatible with most biometric security features found on mobile devices.
Can I deposit checks without visiting the branch?
The NB Business App allows users to deposit checks via their mobile devices. Commercial customers have a limit of $50,000 per day with a monthly limit of $100,000.
How do I access Bill Pay for NB Business Online Banking?
Once you log into your Business Online Banking profile, select the “Pay My Bills” tab. Then select “Sign up for Bill Pay,” where you will then be brought to your Bill Pay module.
How do I add other accounts to my Business Online banking?
The Business Online Banking Administrator can request other business deposit and loan accounts to be added to the Business Online Profile if they are a signer on all accounts. You can do this by logging into your Business Online profile and navigating to the Message center to send a secure message requesting the account be linked. Please provide the account title and the last four digits of the account number and we will respond to you shortly once the account has been added to your business online profile.
How do I connect my QuickBooks or Quicken to Needham Bank with Business Online Banking?
Business Online Banking offers Direct Connect and Web Connect options for both Quicken and QuickBooks. You can self-enroll for Direct Connect or download account history via Web Connect by visiting the Service Center when logged into Business Online Banking.
How do I retrieve a copy of a check through Business Online Banking?
NB Business Online Banking offers up to 16 months of certain check copies to view within your Account Activity screen. If you require a check copy that is not available to you, please contact your local branch to request a copy of the check.
Can I add additional users to my Business Online Banking?
The Business Online Banking Administrator has the ability to create additional secondary users or sub-users through the Service Center in Business Online Banking. The Administrator can then control which entitlements the sub-user has access to and what the sub-user can do in their separate business online user profile.
How do I sign up for eStatements?
You can sign up for eStatements by visiting the Accounts module in Business Online Banking and then selecting “eStatements”. Once accessing eStatements, your paper statements will automatically be discontinued.
What other services are offered through Needham Bank Business Online Banking?
Needham Bank offers many additional Cash Management Services including:
- Wire Transfers: Move money quickly and securely with domestic and international wire transfer initiation.
- ACH (Automated Clearing House) Origination: Move funds electronically through the ACH network for payroll, collections, vendor payments, tax payments and more.
- Remote Deposit Capture: Scan check deposits from your office with a scanner, eliminating trips to the bank.
- EDI (Electronic Data Interchange) Reporting: Receive detailed addenda information for specialty formatted ACH Deposits.
- Positive Pay: Reduce the risk of check fraud by adding an extra layer of security. Information from each check clearing your account will be matched against a list of checks authorized and issued by your company before clearing your account.
- ACH Positive Pay: Protect your business accounts from fraudulent ACH Debits by creating a list of authorized electronic payments.
- Sweep Services: Automate transfers between deposit accounts or your line of credit to maximize the use of funds.
- Lockbox Services: Have your incoming checks sent to a dedicated P.O. mailbox to be processed by a third party to automate your receivables process.
Please reach out to your Business Banker if you would like to discuss implementing any additional Cash Management Services.
If you require additional assistance or have further questions, please contact the Business Online Banking Team at [email protected] or 781-474-5803.