Small Business Online Banking



Savings Small Business Owners Time & Money

Running a small business requires a lot of time, money and hard work. With a small team of employees, we understand you carry much of the weight to keep your business in motion. With online banking designed for small business, we can help in a big way.
It's Canada's first financial online banking product designed specifically to meet the needs of small businesses. This new service offers you a tailored online solution - from allowing multiple users to login to one account, to providing peace of mind ith transacton management using dual signature support. Features like 24/7 access through online and mobile banking goes further, helping you better manage you finances so you can stay focused on your business' sucess.

Key Product Features

Small Business Online Banking includes a range of features that make a smart, simplen and stress-free financial option.

  • Dual signature support - with dual support one signer can initiate a transaction and have another signer approve or decline a submitted transaction.
  • Multiple user support - you can add up to three delelgate users. Profiles for delegates allow you to assign view only and initiator rights functions. Initiator rights allow a delegate to initiate transactions for the account signer(s) to approve, either online or via smartphone or tablet.
  • Account consolidation - signers can group up to three personal and small buisness accounts together to view account balances and conduct transactions between accounts using a single login.
  • Mobile Access - you can view your accounts, make bill payments, transfers - including an Interac® e-Transfer - and deposit cheques on-the-go. Additionally, the Transaction Manager feature allows you to view, approve or reject tasks initiated by dual signers or delegates right from your mobile device.
  • Deposit Anywhere™ - remotely deposit a cheque using your mobile device, from anywhere, day or night.
  • Online Banking Alerts - sign up to receive email and/or text alerts each time: a delegate or another signer on the account initiates a transaction requiring approval, or a transaction requiring approval is about to expire
  • Interac® e-Transfer with Dual Signature - Small Business MemberDirect offers Interac® e-Transfer functionality, with the addition of dual signature support if you are accustomed to dual signer controls for your transactions.
  • NEW Workers Compensation Payments can now be completed thru MemberDirect Small Business



How do I get started?

Spend more time doing what's most important to your business. Contact your branch and sign up today!

For more information, please review the list of Frequently Asked Questions and/or read our MemberDirect Small Business User Guide.


Frequently Asked Questions

How do I get started? Expand/Collapse

If you haven't received a temporary Personal Access Code (PAC), please contact your branch. If you would like to receive help online, simply click on the Online Banking icon on the tip, right-side menu on our website. Then, simply click on the Online Banking Help link at the top of the log-in page.

How does small business online banking differ from personal online banking? Expand/Collapse

Small Business Online Banking offers the same features as online banking, with the addition of powerful features to help you save time and stay on top of your cash flow:
  • Consolidate your accounts so that you can see your business and personal accounts using a sigle login
  • Delegate others to view business accounts and initiate transactions 
  • Set up dual signers on business accounts that require two people to approve payments and transfers

What is account consolidation? Expand/Collapse

Account consolidation allows you to see your buisness and persoanl accounts using a single login. To consolidate your accounts in Small Business Online Banking, simply navigate to the Account Consolidation Manager, choose to add a new consolidated account, and enter the details for the account that you wish to consolidate.

Who can see my consolidated accounts? Expand/Collapse

Consolidated accounts are only visable to the signer who combines thema nd to authorized delegates. This ensures that even when there are multiple signers on a single account, each signer can only see their own accounts and not those consolidated by another signer.

Besides account information, is anything else consolidated? Expand/Collapse

Some features are consolidated as well, such as pending transfers and bill payees. This allows you to use an account from one login, to pay a bill that was set up in a different login.

What information is not consolidated? Expand/Collapse

Whiel your account and transaction information will be accessible via one login, the following services will only be accessible from the accounts you originally set them up in: e_Post , e-Statements, e-Documents, Canadian Revenue Agency (CRA) information and any personal messages we have sent to your account. you can continue to access them using the same login information as you always have.

What is a delegate? Expand/Collapse

A delegate is someone such as a bookkeeper or family member that you have granted permission to have access to your online business accounts. A delegate can have read-only access to your accounts and transactions, or you can allow them to initiate transactions for you, such as bill payments or transfer of funds from one account to another. Once a delegate initiates a transaction, you will be notified that the transaction requires your approval to continue.

Can delegates see my personal accounts? Expand/Collapse

When you create a delegate, you can specify which accounts the delegate can access. For example, you may have a business account and a personal account. In Small Business Online Banking you can allow the delegate to view your business account, but not your persoanl account.

Can delegates see my e-Documents? Expand/Collapse

Yes, some documents will be visible by delegates. Contact us to find out more information about providing online document access to delegates.

What is the dual signature feature? Expand/Collapse

Many small businesses, such as partnerships, require two people to approve payments and transfers from business accounts. Our dual signature feature allows you to nominate two signeres in online banking who must approve transactions from an account before it can be completed.

How many signers can I have for an account? Expand/Collapse

You can have as many signers as you would like for one account. With Small Business Online Banking, the dual signature feature allows any two of those signers to act as dual signers for any single transaction. Contact us to set up the appropriate online banking access.
 

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