Business mobile banking allows people the freedom and flexibility to take care of their finances on the go—one of the most sought-after services featured in the modern banking industry. According to one mobile banking study, 89 percent of survey respondents indicated they took advantage of mobile banking services. (That stat rose to 97 percent when the researchers looked at millennials.)
When you think about what mobile banking offers, this makes sense.
Instead of driving to a specific location whenever you need to make a deposit or check your account balance, you could tap on your phone or tablet a few times and get the job done in minutes.
Business mobile banking brings these same benefits to business owners instead of reserving those features for personal account holders. This can make figuring out your small business's finances much more straightforward, which, over time, can lead to better financial habits.
Today, let’s take a look at how a good business mobile banking solution can transform the way you manage your business’s money. We’ll also provide a quick guide to the features your bank should be offering for the best possible business mobile banking experience.
Why is business mobile banking important?
When you first search for a community bank, it’s easy to overlook mobile banking. People looking for a great banking partner usually focus on other banking features, such as competitive fees and interest rates.
These are inarguably essential things to think about, but we would argue that an excellent mobile banking platform is the banking feature that will impact your day-to-day life most frequently.
For example, if you’re a business owner and sign up for business mobile banking, you’ll discover that:
It’s a lifesaver when you’ve forgotten your wallet at home. Before business mobile banking, you needed debit cards and ID to complete transactions. Now, you can send money to others with just a few taps on your device.
It makes traveling so much easier. Whether you’re on a business trip or realize while you’re on vacation that you need to check a business transaction, you don’t have to lug unnecessary paperwork with you. All of your account information and recent activity are in the palm of your hand.
It makes managing your finances much more accessible. Business owners have a lot of financial data to stay on top of—it can get overwhelming! With business mobile banking, you don’t have to run to the bank to sort out your finances, which is one less errand you need to schedule into your busy day.
With business mobile banking, today’s business owners can feel empowered to run their businesses on the go instead of feeling tethered to an office with a desktop computer or needing to stay close to a brick-and-mortar bank.
Of course, there are still perks of having a bank with a physical location. Sometimes you need to ask a financial expert for advice, for example. But as the world we live and work in is increasingly digital, managing your finances with mobile banking will be more and more essential. Finding a community bank that offers impeccable in-person service and convenient business mobile banking is essential.
What business mobile banking features should your bank provide?
If you’re considering a new bank and notice that it offers business mobile banking, great!
However, that isn’t the only thing you need to consider. Not all banks will provide the same level of mobile banking services. You need to ensure that your new bank's mobile banking experience gives you the features that will make your life easier.
As you’re getting to know a potential banking partner, ask about its business mobile banking features. Make sure that you’re able to do these essential things with any mobile banking service you’re considering:
Check your account balances.
See your account history and recent transactions.
Pay certain bills.
Transfer money between your accounts.
Send money to other people.
Find bank locations near you.
Get push notifications when specific banking events happen (e.g., transfers, payments, low balance alerts, and so forth).
With these business mobile banking features, you can feel like you’re on top of your finances no matter where you are.
And even better: With business mobile banking that connects you directly with your banking team, you’re never more than a quick message away from getting the personalized banking support you need.
Enjoy business mobile banking with a team that cares.
When vetting new banks, you must find one with the modern banking services you require. You also need to know that you’re more than just a number to your bank! To work with financial experts who care about your success (and pick up the phone when you call them), check out the business mobile banking services available through BNC National Bank. Contact us today to learn more about how we’re going above and beyond to serve you and your business.