With Small Business Online Banking, moving money between your business and personal accounts is easy. See all your accounts at a glance-without having to login more than once.

Transactions created in Small Business Online Banking can also be set up to require approval from two people. Best of all, the notification process between both signers is fully automated. You’ll be able to see what’s pending as soon as you log in.

Do you hire an accountant, a bookkeeper or even a family member to keep your business finances in order? With online business banking, you can authorize your staff (delegate) to view your statements online at their convenience, without the hassle of paper statements. You can also authorize delegates to initiate transfers and bill payments. They start the process; you finish it by approving or declining each one.

You can manage invoicing and accounts receivable from within online banking. With MDSB you will be able to:

• Set up invoicing tool in minutes
• Create professional-looking customized invoices
• Email invoices directly from online banking
• View status of accounts receivables
• Reconcile accounts with a single click
• Get paid electronically
• Download invoicing data for accounting purposes

Getting Started is easy. Download our MDSB User Guide for an overview of each of the MDSB features and helpful tips about how to use them.

Still have questions? Visit our FAQ page for answers and helpful tips.

To upgrade to Small Business Online Banking, contact us today!

How do small business and personal online banking differ?

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.

How many delegates can each signer have?

Each signer can have up to three delegates.

What is the difference between delegates and signers?

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.

How do business customers know when a delegate has started a transaction?

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.

Can customers do business and personal online banking from the same place, and can they use mobile devices?

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.

Why is delegate access unavailable on mobile devices?

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.

Can delegates see e-documents?

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.

Can delegates see business customer’s personal banking account if the accounts are consolidated?

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.

What information cannot be consolidated?

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.