The Advantages of Online Banking for Your Business

Still using a pen and paper to manage and keep track of your company’s finances? You can make your workload easier and more efficient by using online financial services that provide strategic, operational advantages and enhanced security for your company’s financial information. Below are a few of the benefits your business can gain when utilizing an online financial services platform like myTrustmark^® BUSINESS.

Money Management Tools

The primary benefits that come with using a financial services platform are security and the ability to manage your business finances more efficiently and in one place. With myTrustmark BUSINESS, your records will be organized, and you will gain valuable money management tools that can help you save time on important business tasks, like preparing reports and reviewing account transactions. You’ll also have access to fraud prevention tools and other services that can help support your company’s day-to-day financial operations.

Being that every business is different and has its own unique needs, Trustmark offers three levels of business online banking that give you secure access to your account 24/7 and provide flexibility and a wide variety of products and services designed to grow with your company as it grows:

myTrustmark BUSINESS

Tailored for micro or home businesses, myTrustmark BUSINESS provides basic banking services like online Bill Pay, eStatements, transfers between Trustmark accounts, account history exports, stop payments, remote deposit capture and more.

myTrustmark BUSINESSAdvantage

Ideal for small businesses with enhanced cash management needs, myTrustmark BUSINESSAdvantage offers additional services like information reporting, wire transfers, Automatic Clearing House (ACH) services and single and multi-account history export.

myTrustmark CORPORATEAdvantage

For the sophisticated and more complex financial needs of larger businesses, myTrustmark CORPORATEAdvantage provides tools like advanced information reporting, advanced user entitlements, multi-transfer ability, international and multi-wire transfers, and lockbox service to name a few.

Better protection of your information

Many platforms capture most, if not all, actions made within the platform in great detail with digital tracking, which may consist of recording timestamps, device IP addresses and usernames connected to specific activities. This allows for greater security and protection against unwanted changes, should you wish to authorize multiple employees to help manage certain functions within the platform.

You can further enhance the protection of your business accounts by enrolling in account monitoring services, such as ACH Alert, Positive Pay and Reverse Positive Pay, all of which help reduce the risk of fraud. With ACH Alert, you will receive daily records of ACH debit transactions that are compared to an approved list of your trusted ACH accounts for validation and faster processing. Positive Pay compares checks presented for payment against your check-issued file and provides daily reports of any unauthorized activity. Reverse Positive Pay allows you to review all prior day checks posted to your account and gives you the ability to make a pay or return decision for each check.

Another benefit of using a financial services platform is that it significantly lowers the risk of losing important business records. Due to the nature of online record keeping, digital files are difficult to destroy compared to physical files that are susceptible to damage from events like fire, flood or accidental shred. In fact, files stored in a financial platform are often backed up as a safety measure, making it possible to restore files should something unforeseen happen.

Defense against cybercriminals

Any business conducted online introduces the potential for cybercrime, therefore, it is important that your business has adequate cybersecurity protection in place to compliment or exceed the security of your financial platform. If your business does not have a dedicated information technology (IT) department, consider hiring an IT professional or service to help ensure your company is protected.

Trustmark takes guarding your financial information seriously. We will never request confidential information via email, text, phone or social media; however, we may ask you for your information to verify your identity if you call us. If you receive any unsolicited text messages, emails or phone calls allegedly from Trustmark requesting confidential information, contact us immediately at 800.243.2524, Monday – Friday, 8 a.m. – 5 p.m. CST.

To learn more about myTrustmark BUSINESS, the services we offer and how we can help protect your company’s financial information, visit our Cash Management Services page or contact our Corporate Treasury Service Support Team at 855.731.0243.