Manage Your Accounts

• Check business account balances
• View recent transactions, including check images
• Transfer money between accounts

Deposit Checks

• Deposit checks by snapping a picture of each check
• View deposit history in the app

Review and Approve

• Approve transactions; including fund transfers, ACH transfers and wire transfers
• Review and approve Positive Pay exceptions
• Receive alerts when approvals are pending

Download the Free App Now

Simply download the app for your Apple^® or Android^™ device — then sign on with your Select Bank Business Online user credentials. No additional fees apply.*

*Carrier’s data rates may apply.

Benefits

• Deposit checks from the convenience of your office
• Utilizes a desk scanner and internet access
• Simply sign, scan, then send checks to the bank for processing
• Checks converted to an electronic image that is then securely transmitted to the bank
• Streamline check handling from multiple offices or locations
• Same day credit up to 5 pm; realize funds quicker, accelerating cash flow
• Saves time; the whole process can be done in a matter of minutes
• Reduce time and money spent on document preparation and transportation
• Fewer errors in accounting
• Reduce the risk of check fraud by eliminating the circulation of paper checks

Additional Information

With remote deposit capture, all you need is a computer with an Internet connection, a Select Bank account to deposit funds to — and a scanner to scan checks for deposit, which we provide for you. Remote deposit capture offers your business a number of advantages, including:

• Faster Processing: Electronically depositing your funds often makes them available faster and reduces processing times.
• Make Deposits During Normal Business Hours: You can make as many deposits as you need every day before 4 p.m.
• Improving Efficiency: By making electronic deposits, you don’t have to run to the bank or send an employee to make a deposit at the bank, saving on courier costs and improving efficiency.
• Reduced Risk of Fraud: Because checks are processed faster, you’re able to act faster on returned checks, improving your opportunities for collection.
• Increased Security: Remote deposit capture offers the highest security level available through multiple layers, including password protection, an Internet firewall and 128-bit encryption.

How to Use Remote Deposit Capture

Select Bank’s remote deposit capture is designed to make depositing checks easy. You can deposit checks electronically by following these simple steps.

• Scan the checks using the scanner provided by Select Bank.
• View the scanned checks images on your computer. Dollar amounts are automatically read and the deposit is completed.
• Click “SUBMIT DEPOSIT” and your deposit is sent to the bank through a secure Internet connection.
• Funds are deposited into your account. Transactions typically take 1-2 days to clear.

Benefits

• Provide additional payment options for your customers
• Accept major credit and debit cards for increased versatility
• Available to Select Bank business customers
• Boost your bottom line by making it easier for people to pay you
• Reduce processing time and human error
• Reduce billing expenses
• Equipment is easy to use and set up
• Streamline billing and record-keeping

Additional Information

As a business owner, you want to be able provide service to as many customers as possible. Today, customers are using credit cards and debit cards to pay for goods and services more than ever. If you don’t accept these forms of payment, you’re likely missing out on a lot of customers.

Merchant card services allow you to accept credit and debit card payments at your business, to help you reach as many customers as possible.

Clover^® Go

You don’t have to install a full point-of-sale system to accept credit and debit card payments at your business. With Clover® Go, all you need is an Android or Apple mobile device and a wireless network or Wi-Fi connection.

Clover Go allows you to accept both EMV and swipe payments and offers secure transactions with TransArmor^® data protection. Once the transaction is complete, a receipt is sent to the customer via text message or email.

EMV Payments

In a world where we seem to hear about data breaches on a regular basis, you want to know your account and personal information are secure. To make sure your data is secure, a new kind of card is being introduced: EMV cards. EMV cards ensure your personal data is protected.

An EMV-compliant credit card or debit card is fitted with a chip that creates a one-time transaction code when you use your card that is more secure than swiping your current card, where data isn’t changed. With EMV cards, once the unique transaction code is used, it cannot be used again. If a criminal were to discover that transaction code, it couldn’t be used to make additional purchases. Many financial institutions, including Select Bank, are in the process of distributing EMV-compliant cards to their customers to replace their current cards.

Business owners need to be aware of EMV compliance, as they are liable if fraud occurs over a non-EMV-compliant system if the customer has an EMV card. Please contact us to learn more about the steps you need to take to ensure your business is EMV-compliant.

Advantages of Positive Pay

• Fraud Prevention: Electronic check verification helps reduce the risk of unauthorized or altered checks from being cased, safeguarding your finances.
• Cost Savings: Minimize costs associated with fraud and unauthorized transactions.
• Enhanced Security: Your transactions are more secure. Checks are monitored and approved before they are cleared.
• Compliance and Reporting: Positive Pay records ensure compliance with auditing and regulatory requirements with accurate and transparent reporting.

Benefits

• Make and receive vendor payments 24/7, electronically
• Ideal for businesses with a high volume of recurring receivables, including:
  • Monthly dues
  • Payments
  • Premiums
• Bill customers directly for an expedited process
• More efficient and accurate processing
• Directly deposit employee payroll
• Streamline recordkeeping
• Fewer errors in accounting, reducing human error
• Eliminates waste and expense of paper checks
• More closely predict your overall cash flow
• Wire funds, hassle-free:
  • Easy, same-day, safe movement of funds
  • Move money locally, regionally, nationally, or even internationally
  • Schedule one-time transfers or create recurring templates for future use

Benefits

Your funds remain secure as they earn competitive interest — and you’ll only ever receive statements from Select Bank. Put your higher balances to work with this convenient service that does the work for you.

• Enjoy increased coverage while also benefiting from increased access to funds and higher returns than other savings options
• Interest above standard savings, which may compare favorably with other investment alternatives
• Greater security; multi-million dollar FDIC insurance coverage
• Convenience; everything is managed internally by Select Bank:
  • One interest rate
  • One regular statement
  • One year-end tax form
• Less administrative burden than other collateralized deposits and repo sweep options
• Two convenient options:
  • Insured Cash Sweep Savings (ICSS) – includes 6 program withdrawals per month and deposits funds to money market deposit accounts
  • Insured Cash Sweep Demands (ICSD) – Includes unlimited program withdrawals and deposits funds to demand deposit accounts
• Full FDIC coverage on amounts up to $50 million

How It Works

• Choose from either the ICSS or ICSD options or choose both
• Sign the agreements, use an existing checking or other transaction account (or set one up), and deposit your funds
• If you choose both the savings and demand options, you will need to have a separate transaction account for each
• $200,000 remains in a transaction account at your bank, the rest are sent to other ICS network banks in amounts less than $250,000*
• Each individual deposit receives interest, plus full FDIC backing
• As a result, you access FDIC insurance coverage from many institutions while working directly with only your bank

*Deposits are sent to demand deposit accounts with the demand option and to money market deposit accounts with the savings option. The standard FDIC insurance maximum is $250,000 per insured capacity, per bank.