Dealing With Business Banking As A Remote Business

Remote businesses are on the rise in popularity across the globe. Being able to run your business anywhere in the world makes living the way you want to simple. Remote working can also make running a business easier, as you will have to convene online, rather than in person most of the time. Dealing with remote banking may not be as simple when you have business banking to perform. Here is how you can use video banking solutions in order to properly serve your business.  

Have a video conference going over retirement accounts 

Many businesses offer retirement accounts for their employees. If your company offers this type of compensation, it is important to go over the package of what is included in the retirement account and how the account is operated. Ask the bank to have a video presentation that explains the retirement account's operation to all employees so that everyone can watch the video after they come on board with your company. Place access to the video inside of any financial documents with the business. 

Use video banking for updates on your account

It is a good idea to keep a close eye on your accounts, especially when all of your transfers are being made online and when you don't have an in-house accounting department. In lieu of an in-house finance department, the C level executives for the business should have the authority to do video banking for the business. Video banking will allow the executives to have a conversation via video chat with bank personnel as needed. They will be able to check on account balances, get checks created or drafted, and performing large transfers. Video banking is a secure way to go about banking because your identity will be easier to verify. 

Use wires instead of paper checks

Paper checks are inconvenient methods for sending money if you and your business partners are not always at the same location. Instead have wires authorized in and out of business accounts to pay employees, vendors, and contractors for your company. If you want to have a verification process, have payment set up through your video banking system so that two people must verify that the wire is being approved. For incoming wires, have your bank send an alert to all c-level executive's emails informing them of the wire amount and who it came from. This will keep proper accountability and safety for

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