Learn about 5 tools that make life easier by handling your business’ finances.
If you recently began working for yourself or are developing a business, it is possible that you’ve wondered why you should open a business account, instead of managing your business’ finances through your personal account. A business account gives you access to products and services made specifically for businesses, allowing you to save time while maintaining control of your finances. Mixing personal finances with those of your business can lead to mistakes and headaches when it is time to reconcile accounts and make payments to suppliers and employees, among other things.
Here are the top 5 products that any entrepreneur or business owner who has a business account with Popular can consider to make the best use of time and to increase efficiency in managing his or her business:
- Mi Banco Comercial or Web Cash Manager1
Check balances and transactions in your business accounts any time in just one site. This saves you time in managing your business while keeping your accounts secure.
Here are other advantages of these tools:
- Check real-time balances and transactions 24/7
- Create and cancel stop payments
- Access images of your checks (front and back) and deposit slips
- Make payments for electricity, water and telephone bills, among others
- Process electronic payroll payments for your employees2
- Transfer funds immediately between Banco Popular accounts
- Export transactions to QuickBooks®3
- Receive alerts and confirmations of payments, transfers and balances by email or text message4
- Authentication with a unique code for greater security when making transactions
- ACH payments for payroll, utilities and suppliers5
Cuts operating costs by providing you with a secure and fast way to make monthly payments for your business. With this service you can:
- Make payroll direct deposits to your employees.
- Pay suppliers in Puerto Rico and the United States through direct deposit.
- Pay federal and state taxes (including IVU and ASUME).
Eliminate the stress of visiting the branch to charge a fee for returned checks. At Popular, we do it for you.
- We facilitate processing checks with direct deposit.
- If a check is returned, we take charge of collecting the fee.6
- E-Commercial Statement
Receive bank statements for your business account with just a few clicks, securely and free of charge.
With this tool you can:
- Access the most recent 18 bank statements in digital form (PDF) and provide access to other users.
- Make your business’ accounting easier.
- Business Banking Center7
Take advantage of our advisory service! Our Business Banking Center has professionals who can provide guidance on:
- Transactions in your business accounts, lines of credit and commercial loans.
- Business services and credit solutions that are right for you. We have a direct line to assist you. Call us at 787-756-3939 or 7-855-756-3939 for more information.
How you organize your management lets you make the most of your business. With each of these services, you can see a greater return on your efforts and, therefore, from your business. Click here and take control of your finances.
1 The services of Mi Banco Comercial and Web Cash Manager involve fees. These services are not available in countries that are subject to the U.S. Treasury (OFAC); trade embargoes or economic sanctions programs. Available only for the FlexiCuenta de Negocios. An activated ATH® card is required.
2 The ePayroll Service is limited to one account per registration with Mi Banco Comercial. It carries a fee of $0.75 per transaction charged to the account registered with the service. You must have funds available before originating payments. For security, it is required to activate the Two Step Verification Service to be able to register and use the ePayroll service.
3 To export reports, you must have access to QuickBooks® 2013 software or recent editions. QuickBooks® is a registered trademark of Intuit Inc.
4 Banco Popular charges no fee to your bank account or your cellular account for these services. For information on the plans and fees associated with text messages, you should check with your cellular service provider. Fees for text messages depend on the plan you have chosen with your cellular service provider.
5There are fees for the Web Cash Manager℠ services. These services are not available in countries that are subject to the U.S. Treasury (OFAC); trade embargoes or economic sanctions programs.
6 The system automatically charges your customer the fee or penalty that your company imposes for a returned check, up to a maximum of $25, and deposits it in your business account. The service is available for customers who have accounts with Banco Popular. There is a fee for the Collections service. We succeed in collecting fees on 70% of transactions. Subject to availability of funds of the person who must make the payment.
7 Other fees apply to customers of the Business Banking Center or Corporate Banking.