Frequently Asked Questions

1. How do small business and personal online banking differ? Expand/Collapse

In online banking for small businesses, there are three additional features:

  1. Delegate functionality – The customer can assign delegates, granting them read-only access to accounts or permissions to initiate transactions, such as bill payments or money transfers, on behalf of the business customer. Delegate access is restricted to the desktop site as delegates tend to be employees who don’t require mobile access to the owner’s account.

  2. Account consolidation – This allows the business customer to use a single login to access both business and personal accounts.

  3. Dual-signature authorization – This requires two people to approve any payment or transfer that originates in the customer’s business account.

2. How many delegates can each signer have? Expand/Collapse

Each signer can have up to three delegates.

3. What is the difference between delegates and signers? Expand/Collapse

Delegates are typically employees or external parties, such as bookkeepers. They can view and initiate transactions; however, only signers (typically the business owners) can approve transactions. Signers must be members of the business, while delegates can be anyone.

4. How do business customers know when a delegate has started a transaction? Expand/Collapse

Pending transactions can be seen through online banking using the “transaction manager” feature. Business customers can also receive alerts by text message or email if your financial institution has these capabilities available.

5. Can customers do business and personal online banking from the same place, and can they use mobile devices? Expand/Collapse

Yes and yes. If the customer consolidates their personal and business account, both can be accessed using a single login. The service is compatible on mobile apps and mobile web.

6. Why is delegate access unavailable on mobile devices? Expand/Collapse

The product was designed to restrict mobile access to business owners. Delegates tend to be employees who don’t require mobile access to the owner’s account. Delegates can access account information through the desktop online banking site.

7. Can delegates see e-Documents? Expand/Collapse

No, delegates will not have access to eDocuments, however, they will have access to eStatements.

8. Can delegates see a business customer’s personal banking account if the accounts are consolidated? Expand/Collapse

When upgrading retail clients to business accounts, financial institutions should be mindful about how the accounts are set up within each member card login (PAN) or membership (member/branch) login. Only the business customer, who owns and consolidates the accounts, can see both. The business customer grants permissions to delegates, allowing them to view and initiate transactions (if desired) from the business account only.

9. What information cannot be consolidated? Expand/Collapse

Information that does not originate from the banking system, including epost, e-Statements, e-Documents, and CRA filings, etc., cannot be consolidated. These are accessible, however, when the business customer logs into the account that houses these files.