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Category: Business Online Banking

Payments & Transfers

  • Overview
  • Create New
  • Templates
  • Importing
  • Review / Modify / Reverse
  • Overview
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What are the different types of payments and transfers I can make within Business Online Banking?
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What are the different types of payments and transfers I can make within Business Online Banking?

Business Online Banking Payments & Transfers Overview Video


The Payments and Transfers section within Business Online Banking is your central hub for moving money and offers a variety of powerful options.

Internal Transfers
Internal Transfer functionality let's you easily transfer money internally between your accounts with us, including repeating transfers that occur on a regular basis.

ACH Transfers
ACH Transfer functionality offers powerful tools for both sending and receiving ACH payments - which can often be delivered the very same day. You can review existing ACH transfers, create new transfer batches, create templates, and even import transfers from your accounting software.

Wire Transfers
Offers similar tools for initiating wire transfers. Just like ACH, you can make inquiries, make changes, delete wires and import templates.

Bill Pay
Finally, Bill Pay, opens your Payment Center. Where you can Add payees. Set-up automatic payments. and send money in just a few seconds.

 

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Internal Transfers Guide
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Internal Transfers Guide

Business Online Banking Internal Transfers Overview Video

Internal Transfers is where you move money internally between your accounts with us - for example - from an authorized checking account to an authorized savings account.

Loan Payment Internal Transfer
If your company has an eligible loan account with us and you have access privileges, you can also make loan payments. Just tell us how you'd like to apply your payment.

Executing a Transfer
Once you've selected the accounts, select a transfer date. If you'd like the transfer to repeat, indicate how often and when the transfer should end. Next, enter the amount and a description. Then preview your transfer. If everything looks correct, submit it. That's it! You'll see your new transfer added to your issued transfers including its date, frequency and status. You can edit and delete transfers that have not yet processed. And if your transfer requires an approval, an approval notification is sent.

 

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ACH Transfers Guide
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ACH Transfers Guide

Business Online Banking Account Overview Video


ACH offers a powerful suite of options for managing ACH transactions. Authorized employees can easily make inquiries and changes to previously created ACH transfers, add new transfers using simple pre-defined types, and conveniently re-use them to initiate future transfers.
 

Deleting ACH Transfers
You can delete transfers that are no longer useful. Or if it’s recurring, simply cancel the next processing date. 
 

Reversing/Cancelling ACH Transfers
Reverse offers the unique ability of reversing a duplicate or erroneous transaction that has previously been submitted.
 

Reviewing ACH Transfers
Review empowers supervisors with the authority to approve transfers prior to processing and when new templates are created. You’ll expedite your most common transactions by simply updating future dates and amounts. It’s the secret to managing large batch files that take place on a recurring basis, like payroll.
 

Review ACH Templates
Review ACH Templates offers authorized administrators the ability to approve templates created by employees prior to offering access to use them. You can also easily import transfers from your accounting software and convert files that are not NACHA formatted.
 

Searching ACH Transfers
The search fields on the right of the Business Online Banking interface (within the ACH section) help you refine or filter the ACH information that you are creating, importing, reviewing, or editing.

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Wire Transfers Guide
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Wire Transfers Guide

Business Online Banking Account Overview Video


Wire transfers are a great tool for securely sending and receiving money directly from an account at one financial institution to an account at another in a matter of minutes. It’s an essential tool for making payments on tight deadlines. Similar to ACH, authorized employees can easily make inquiries and changes to previously created wire transfers. Add new transfers using simple… pre-defined types. Then conveniently re-use them to initiate future transfers.

Delete Transfers
You can delete transfers that are no longer useful. Or if it’s recurring, simply cancel the next processing date.

Review Transfers
The review option empowers supervisors with the authority to approve transfers prior to processing. You can also easily import transfers from your accounting software.

Wire Transfer Templates
Utilizing templates saves time by permitting you to initiate transactions without re-entering the basic instructions each time a wire is sent. Authorized administrators have the ability to approve templates created by employee prior to offering access to use them. Based on your selected option…

Wire Transfer Search
The search fields on the right of the Wire Transfer section help you refine or filter the wire transfers you are creating, importing, reviewing, or editing. 

 

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Business Bill Pay Overview
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Business Bill Pay Overview

Business Online Banking Account Overview Video

Our Bill Pay feature offers authorized employees a simple and efficient method of paying bills. From the Payment Center, you can quickly pay bills you’ve previously set up, review pending payments, payments awaiting your approval, and glance over your recent payments.

Reviewing Billers and Bill Options
From the menu, you can also add billers, review your bill history, and manage biller options such as automatic payments  bill reminders, and biller informationManage which accounts are associated with Bill Pay. And if you’re an administrator… you’ll have the ability to set up and manage authorized users.

Messages
The messages section let’s you communicate with MutualBank in a secure environment to help you get quick answers to questions you might have.

 

 

 

These questions and answers are provided for general information only and may not be completely accurate in every situation. The information provided is not legally binding on MutualBank or any of its affiliates or subsidiaries. For assistance with specific questions regarding your account(s), please contact us.

ALL YOU NEED TO KNOW

Frequently Asked Questions

 

 

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