Online current account: the main advantages for small businesses

Online current account: the main advantages for small businesses

It is well known that an online current account allows companies not only to save time and resources, but also to keep track of their expenses in an efficient and economical way. 

Small business owners, in particular, are to take advantage of online services: once the days when a company representative had to go in person to the bank to deposit a check or withdraw cash for wages, the time saved can be dedicated to the growth and organization of the company.
Below you can find the opinions expressed by some members of the Forbes Finance Council concerning the main advantages of online banking, which entrepreneurs tend to overlook.

More Security

According to Jared Weitz of United Capital Source Inc., online banking globally improves the financial security of the company by allowing it to customize employee access, deciding which features to share, which content, to which selected collaborators. An online current account can in fact be customized, according to the company’s needs. 

Synchronized accounting

Brian Hayes, NOW CFO, puts the accent on another advantage offered by online banking: allowing entrepreneurs to save time and money and make access to updated financial reports easier. In fact, keeping accounting on an online banking platform ensures the synchronization of all business transactions with the accounting system, without having to manually add transactions.

Access from anywhere in the world

By activating an online current account, you can access your bank details at any time, from any corner of the planet without being bound by the bank’s opening hours and days. According to Danielle Kunkle Roberts of Boomer Benefits, we never dwell enough on the level of practicality of this feature that has radically changed the way of doing business.

No queues, no paperwork

The productivity of the corporate back office can benefit enormously from internet banking: no more files, no more faxes, no suspension of customer service. Many banks have created online banking portals that still require entrepreneurs to go to the branches. The suggestion of Eytan Bensoussan, NorthOne, is to search for the latest digital offers, to offer users an online current account that does not require additional branch visits.

Ease of tracking

Entry and exit monitoring is undoubtedly easier with online banking. It allows an easy recovery not only of the details of the business expenses, but also of the search for personal expenses – This is the opinion of Justin Goodbread, Heritage Investors.

Check deposit

One of the favorite features of David Haass, Elite Insurance Partners, LLC, is the mobile check deposit. Mobile banking not only allows you to quickly see the account balance, declarations, message center, order checks, loan requests, order a replacement card, deactivate debit cards for security reasons. Now you can even take a picture of your check and deposit it via your bank’s mobile app.

Feel free to conctact us to know all the advantages of an online current account for your business!