San Diego Business Journal

Online Banking for Business

Advertorial: Small Business Banking & Finance Supplement Monday, September 10, 2012

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By Bruce Onbirbak, VP Business Banking, BofI Federal Bank. If you are interested in online business banking, contact Bruce Onbirbak, VP Business Banking at BofI Federal Bank, 858-764-6981

There are many benefits to online banking. Business owners who are looking for a more effective and cost-saving way to bank will welcome online banking. Gone are the days where you have to stand in long lines in order to speak with a live person. Your entire account can be opened and managed without ever visiting a branch. Need assistance – call to be connected to a Relationship Manager within minutes. Use the guidelines below when choosing a bank to achieve maximum success.

What should you look for when choosing a bank?

Technology-friendly

Banking can be done through your PC, on your smartphone or iPad. Look for a bank that offers these services. Speed up your company’s deposits through deposit capture solutions by depositing paper checks of all types (corporate checks, consumer checks, cashier’s checks, third-party checks, and money orders) electronically. Use your smart phone or desktop scanner to deposit checks from the comfort of

your office.

Competitive rates

In today’s market you should find checking and money market rates just over 1.00 percent and even slightly higher for CDs. Because online banking allows for a lower cost of operations, savings should be passed on to the business customer in

the form of higher rates.

Insured, safe, secure

Is your money safe? Online banking is safe and secure. Most people trade stocks, reserve flights, and consumers conduct a very high percentage of shopping online, all with growing confidence, so … why not bank online? Technology allows for businesses to complete transactions simply and securely without ever having to step foot into a branch. Make certain that the bank products and services you choose are offered by an FDIC insured financial institution, have password controls, strong sign on authentication, encryption protection, ability to stop payment on single or multiple checks, and access to secure email.

Relationship management

Business banking can be achieved successfully online – no branch required. However, be sure the bank provides the quality services of a relationship manager. The bank you choose should offer personalized service and an assigned relationship manager.

Free online banking

24/7 online account access, transaction origination, and complete account management capabilities should all be free. You also should have access to account balances and history, one-time and recurring transfers, bill pay, account statements, check image viewing and downloads, self-directed research, check ordering and ability to download account information into financial management solutions.

If you look for a robust, full-service bank that has 24/7 accessibility, is technology-friendly, offers competitive rates, insurance, safety, security and relationship management, you will be well on your way to a better online business banking experience.