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03 Sep 2017

10 reasons why your business should switch to Digital Banking

by RAKBANK
Two business men smiling while reading in a meeting

As a small-business owner, your time is precious. You have people to meet, strategies to think of, sales targets to achieve and more! With so much to do, standing in a queue at a bank is the last thing you want to do. If your bank does not offer a robust Digital Banking system, chances are that you are most likely to spend a good portion of your time in the bank or doing bank-related activities to keep your business finances in order. 


But if your bank offers Digital Banking for Business, it becomes easier for you to handle most of your banking activities from the comfort of your office or home. Taking advantage of Digital banking will allow you to maximize your time, and the bank online security measures help you in protecting sensitive information.


Here are a few tasks that your bank's digital platform should allow you to perform:  

 

1. View your Business Banking Relationship: You should be able to get an Overview of your account balance and transaction history, specific details of the Loan that you have taken from the bank and the limits for Facilities, all with the touch of a button. Also, you should be able to view the repayment details specific to your Loan & Finance relationship with your bank.   

 

2. Get Organized Downloadable Reports: Most online banking services provide access to downloadable reports that can help you reconcile your financial statements. These reports include your deposits, transfers, ATM withdrawals and any bills you have paid using your online banking account. Online banking can help you keep your business records organized or serve as documentation for your book-keeper or accountant.

 

3. Cut Banking Costs: Processing paper checks is time consuming and can be expensive. You can avoid some of these costs by taking advantage of Digital Banking. What's more? You can avail selected services a lesser costs through RAKBANK Digital Banking for Business. 

 

4. Bill Payment: Online bill payment of routine company expenses simplifies financial management, and eliminates unnecessary late fees. Most monthly bills, routine expenses can be paid electronically to save you time and money. With RAKBANK Digital Banking, you can pay all your bills in one go and view history as per your convenience.

 

5. Transfer across Accounts: Managing both home and business accounts leaves many small-business owners struggling. Using Digital Banking, you can instantly move money between accounts when necessary. With the ability to move money between accounts, even while out of town, you can quickly access funds needed to make purchases and payments to keep your business running smoothly.

 

6. Avail Account Related Services: Check on your accounts and carry out transactions whenever it suits you, including evenings and weekends. That way, you can focus on what matters most during the day. RAKBANK Digital Banking allows you to make use of account related services such as Account statements, Cheque books and you can also apply for a Business debit card. 

 

7. Stay Alert: With RAKBANK Digital Banking, you can get alerts "On-the-Go" on expiry of Trade license, Emirates Id and Passport.

 

8. Simplify your payroll: It's easy to pay your employees via the Internet. You can simply send funds directly to your employees: transactions are settled on the spot. With RAKBANK Digital Banking, you can easily Pay your staff salaries through our WPS service available on the platform.

 

9. Avail Trade Finance services: Digital Banking platforms provides business customers quick turnaround times for all their Trade Finance services. With RAKBANK Digital Banking, you can avail various Trade Finance services. 

 

10. Update your details on the go: Stay connected with your bank by updating your details on the go. With RAKBANK Digital Banking, you can update your emirates id, email address and office landline number on the go. 


RAKBANK offers many Digital Banking services to its Business customers to help ensure that your Business Banking can be done as quickly and effortlessly as possible. For more information on our business online banking products, get in touch with us.


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10 reasons why your business should switch to Digital Banking

03 Sep 2017

Two business men smiling while reading in a meeting

Tags :

As a small-business owner, your time is precious. You have people to meet, strategies to think of, sales targets to achieve and more! With so much to do, standing in a queue at a bank is the last thing you want to do. If your bank does not offer a robust Digital Banking system, chances are that you are most likely to spend a good portion of your time in the bank or doing bank-related activities to keep your business finances in order. 


But if your bank offers Digital Banking for Business, it becomes easier for you to handle most of your banking activities from the comfort of your office or home. Taking advantage of Digital banking will allow you to maximize your time, and the bank online security measures help you in protecting sensitive information.


Here are a few tasks that your bank's digital platform should allow you to perform:  

 

1. View your Business Banking Relationship: You should be able to get an Overview of your account balance and transaction history, specific details of the Loan that you have taken from the bank and the limits for Facilities, all with the touch of a button. Also, you should be able to view the repayment details specific to your Loan & Finance relationship with your bank.   

 

2. Get Organized Downloadable Reports: Most online banking services provide access to downloadable reports that can help you reconcile your financial statements. These reports include your deposits, transfers, ATM withdrawals and any bills you have paid using your online banking account. Online banking can help you keep your business records organized or serve as documentation for your book-keeper or accountant.

 

3. Cut Banking Costs: Processing paper checks is time consuming and can be expensive. You can avoid some of these costs by taking advantage of Digital Banking. What's more? You can avail selected services a lesser costs through RAKBANK Digital Banking for Business. 

 

4. Bill Payment: Online bill payment of routine company expenses simplifies financial management, and eliminates unnecessary late fees. Most monthly bills, routine expenses can be paid electronically to save you time and money. With RAKBANK Digital Banking, you can pay all your bills in one go and view history as per your convenience.

 

5. Transfer across Accounts: Managing both home and business accounts leaves many small-business owners struggling. Using Digital Banking, you can instantly move money between accounts when necessary. With the ability to move money between accounts, even while out of town, you can quickly access funds needed to make purchases and payments to keep your business running smoothly.

 

6. Avail Account Related Services: Check on your accounts and carry out transactions whenever it suits you, including evenings and weekends. That way, you can focus on what matters most during the day. RAKBANK Digital Banking allows you to make use of account related services such as Account statements, Cheque books and you can also apply for a Business debit card. 

 

7. Stay Alert: With RAKBANK Digital Banking, you can get alerts "On-the-Go" on expiry of Trade license, Emirates Id and Passport.

 

8. Simplify your payroll: It's easy to pay your employees via the Internet. You can simply send funds directly to your employees: transactions are settled on the spot. With RAKBANK Digital Banking, you can easily Pay your staff salaries through our WPS service available on the platform.

 

9. Avail Trade Finance services: Digital Banking platforms provides business customers quick turnaround times for all their Trade Finance services. With RAKBANK Digital Banking, you can avail various Trade Finance services. 

 

10. Update your details on the go: Stay connected with your bank by updating your details on the go. With RAKBANK Digital Banking, you can update your emirates id, email address and office landline number on the go. 


RAKBANK offers many Digital Banking services to its Business customers to help ensure that your Business Banking can be done as quickly and effortlessly as possible. For more information on our business online banking products, get in touch with us.