American Gateway Bank's Blog

Technology Makes Business Banking Easier

Your day is already stressful enough…do you really have to worry about making another trip to your local bank? 

Today, technology is making it easier to run your business.  So why not use technology to make it easier to do your business banking as well? 

There are plenty of different "tech-y" things that you can do to reduce the phone calls and the trips you make to your bank.  Here are a few suggestions:

  1. Business Online Banking- Many banks offer a free version of business online banking.  This will allow you to view balances and activity.  Often times, if you have multiple accounts, it will allow you to transfer funds between them.
  2. Business Online Bill Pay- Why spend time writing a check and money paying postage?  You can use a bill pay service offered within your online banking.  It is as simple as entering where you want a payment to go, select the date for the payment to be made and the then bank will do the rest for you!
  3. Direct Deposit- Are you still writing paper checks for payroll?  Why not give your employees something that will make both their lives and your life easier?!  Many banks offer what is known as ACH Payroll.  ACH Payroll allows you the ability to electronically offer direct deposit of your employee payroll to each person's checking and/or savings account.  Worried that your business maybe too small to offer such a service?  Worry not!  Many banks allow you to use the service no matter the size of your staff.
  4. ACH Collections- Does your business collect payments or fees from your current customer base?  You may be able to directly collect that money from the customer's bank account making your accounts receivable easy and painless.  There is no wait for payment set-up each month by your customer.  A direct draft can be collected on the same date every month.  Prime candidates for this service are daycares, gyms, churches and property management companies.
  5. Remote Deposit Capture- Are you tired of driving to the bank to make check deposits?  Or is your cash flow suffering because you are not going to the bank often enough to make deposits?  A solution to your problems may be Remote Deposit Capture.  This solution puts a check scanner in your place of business and allows you to electronically deposit checks into your account.  You scan the check with the scanner and it goes directly into your business checking account.  You never have to leave the office!
  6. Merchant Processing- You've put it off long enough.  Customers have been asking if you take credit cards and you've been avoiding the issue because you have always thought the cost was too high.  But now there are many affordable solutions to credit card acceptance.  Today very few people carry cash or checks and if you do not accept credit cards, you are missing out on business.  The solutions available now are numerous - from desktop terminals, internet based POS systems and smart phone applications.  There is an option for out there for your business.

Many banks offer some or all of these solutions.  And these solutions are often times obtainable through a bank's Treasury Management Department.  If you are interested in any of these services and would like to see what American Gateway Bank can do for your business, please visit our website amgb.com or contact our Treasury Management Department at 225.368.2542.

Posted by Edwin Lagarde at 12:09

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