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How Mobile Banking Helps Your Business Grow

 

While it’s almost pointless to mention the sea of change that the current pandemic has launched for almost every business, mobile banking has figured prominently both in the time prior to COVID-19 and the epoch that is COVID-19.

Mobile banking itself simply refers to the ability to conduct common banking functions while on the go in a downloadable app on your phone.

And while you can perform most transactions without setting foot in your local branch, mobile banking presents a powerful option still backed by brick and mortar locations if you need something more.

Five Key Ways Mobile Banking Enhance Your Business Operations

  1.  Make mobile deposits with the mobile app. Did you just finish up for the day and don’t have time to make it by the branch to deposit this final check? Out in the field with your equipment and happen to be miles from town? Mobile deposit is available anywhere that you have a cell phone signal using the First Palmetto Business Mobile App. Endorse the check, take a couple pictures, confirm the amount and submit your check for deposit. (Don’t forget to check the For mobile deposit only box!) Using this feature ensures that one of the most important pieces of your business, your cash flow, can be managed from just about anywhere.

  2. Track your transactions in real time. Plenty of businesses will rely on monthly account statements to reconcile the books, but changing demands and times may require more frequent updates. The First Palmetto Business Mobile app offers the ability to view transactions, including debits and ACHs, securely and easily. Use the mobile app to ensure that your debit card purchase is processed, and that your employee deposited the check from that recent job, just as you discussed.

  3. Transfer money between accounts without being chained to a desktop. You’re an entrepreneur and keeping up with the finances is something that you know you must do, but is far from your most profitable or easy activity. Use the First Palmetto Business Mobile App to seamlessly transfer funds from one account to another to pay bills, pay employees, or save up for that next major equipment purchase that will take it to the next level. You can make the transfer while waiting in your car or sitting at the site waiting for your client to show.

  4. Manage your bills. Business mobile banking offers Business Bill Pay, which is a great dashboard to keep up with and make payments through for all of your bills. You can quickly see the history of your bill payments to verify that something has been paid, or you can make a quick payment to that vendor so that shipping moves smoothly and efficiently.

  5. Approve ACH transfer or bill payments while on the move. Business requires nimble response times to sudden hot leads. And, as Murphy’s Law states, what can go wrong will happen, often in rapid succession. Many times that really promising lead comes in the midst of some important items that need to be done in short order. If you need to be out to handle an unexpected issue, your employees can submit an ACH or bill payment to be approved by you on the go. This is a great tool for managing distributed business operations in a constantly changing environment.

Business Mobile Banking is available through the First Palmetto Business Mobile App. The app is available in both the Play and iTunes stores for download. As an added bonus, the First Palmetto Business Mobile App offers the ability to use the latest and greatest in the form of secure logins via Apple Face ID or Android fingerprint authentication. This makes mobile banking the perfect solution in an era of constant change and adaptation. If your business must operate in a small environment with less staff or at thinner margins, business mobile banking saves both time and money.