How mobile and online banking can benefit your business
Friday, 10 April 2020
Your smartphone and computer may already serve as vital tools for your small business.
Mobile and online banking can expand their role even further by giving you a virtual bank branch in your pocket and on your desk—one with many features to help your business run smoothly and support your financial goals. These services can also play an important part in facilitating the social distancing now required to fight the coronavirus pandemic.
Besides the convenience of 'round-the-clock access to your accounts, online and mobile banking allow you to perform transactions with ease wherever you may be. They also offer options to set up alerts and budgets aimed at keeping your finances organized and on track, and can even curb your business's reliance on paper.
The benefits of online banking
Online banking, available for all BBVA business checking and savings accounts at no extra charge, lets you manage payroll, pay bills, request payments and transfer funds between all your accounts. You can check balances and transactions, view copies of cleared checks and monitor any accounts linked from other banks.
To ease record keeping, online banking allows you to download your statements into money-management software, making the job easier for you and your accountant or financial manager.
In addition, you can set up custom electronic alerts to keep you abreast of your account balances and available credit, monitor for irregular activity, confirm transactions and cleared checks and warn you of insufficient funds, among other features.
Thanks to online banking, you also can tap tools that help you get a handle on your company's big financial picture. These features let you link all your accounts, track expenses by category, monitor spending trends over time and assess your progress toward saving for personal goals like college or retirement. You can also set up budgets and estimate your net worth.
Maximize your business initiatives with mobile banking
BBVA's mobile banking app, which operates on smartphones and tablets, offers many of the same features as online banking—plus the ability to deposit checks remotely. The easy-to-use platform enables you to smoothly and safely pay bills, transfer funds and set up alerts.
Through the mobile banking app, you can take a photo of a check (or many checks at once) and deposit it into your account from the comfort of your office or living room — saving the time and hassle of driving to a bricks-and-mortar branch.
The content provided is for informational purposes only. Neither BBVA USA, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial consultant about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA USA or any of its affiliates.
Links to third party sites are provided for your convenience and do not constitute an endorsement. BBVA USA does not provide, is not responsible for, and does not guarantee the products, services or overall content available at third party sites. These sites may not have the same privacy, security or accessibility standards. Consult your legal counsel for advice concerning your specific business activities.
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