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Business Online Banking

Meet B.O.B., Your New Business Partner at WSB!

When you open a business deposit account at Waldo State Bank, B.O.B. isn’t just another online platform; it's your personal business banking assistant, ready to tailor solutions to fit your company’s every financial need. From one-on-one consultations to selecting the ideal banking package, B.O.B., and our dedicated team ensure your banking experience is not only efficient but also a breeze!

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BUSINESS ONLINE BANKING

Onboarding and Setup

After you open your business deposit account with Waldo State Bank, the next step is a personalized consultation.

A dedicated Customer Service Representative (CSR) or Loan Officer will discuss your business operations to determine how B.O.B. can best support your business’s financial management needs.

We will guide you through B.O.B.'s diverse offerings, helping you select a service package that aligns perfectly with your business needs. Additionally, our team will provide a comprehensive overview of the Business Fee Schedule, ensuring clarity and transparency regarding any service charges.

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BUSINESS ONLINE BANKING

Customized Banking Solutions

Our approach to business banking is anything but one-size-fits-all. We understand that every business and your banking needs are unique. That's why:

• Underwriting processes are tailored to assess your business's specific risks and opportunities.

• ACH, Wire, and Positive Pay Agreements are set up to match your chosen services, providing a secure foundation for your transactions.

B.O.B. Packages Tailored for Every Business Scale

Micro (Single User) Package
$5.00 per Month
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Designed for sole proprietors and single-user businesses, this package offers fundamental tools to manage up to three accounts efficiently:

• Initiate stop payments on the go.

• Quickly transfer funds between accounts.

• Detailed reporting for individual accounts provides insights and helps in decision-making.

Basic (Multi-User) Package
$12.00 per Month
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Ideal for small businesses with a team, offering enhanced capabilities:

• All features of the Micro package.

• Simultaneous reporting across multiple accounts for better oversight.

• Detailed loan reporting to keep track of your financial liabilities and opportunities.

Standard (Multi-User) Package
$35.00 per Month
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Built for medium to large businesses needing comprehensive account management:

• Manage up to five accounts.

• Advanced ACH capabilities, including file uploads for streamlined payroll and vendor payments.

• Complete suite of ACH services including payments, collections, and tax obligations.

• Facilitate loan payments and advances with ease.

• Execute domestic wire transfer requests securely.

Additional services such as ACH transactions, wire transfers, bill pay, and Positive Pay are available à la carte for Micro and Basic packages, ensuring flexibility and scalability as your business grows.

AlaCarte Pricing for Micro and Basic

Example - Template for uploading payroll for employees.

Ability to submit Federal / State Payments / Child Support

Example - Template for landlords to collect tenant payments

Ability to upload wire requests directly to WSB

AlaCarte Pricing for Optional Services

Each account over the maximum included

Bill Payment Module to pay bills

  • Bill Payment per Transactions - $0.55 Per transaction fee

Includes One Account - Submit and review checks prior to clearing for accuracy

  • Positive Pay Additional Accounts - $10.00 / monthly
    • Per Account over the one included
  • Positive Pay Transactions Fee - $0.04 Per Transaction
    • First 25 included with each account

*ACH Transaction Fees $0.26 Per Transaction. First 25 ACH transactions included in service.

Fee Schedule

Charges are only applied at the end of each month, giving you ample time to review and understand the fees. Prior to billing, we offer a service fee analysis to demonstrate the cost-effectiveness of our platform tailored to your usage. This proactive approach ensures you are only billed for the services you need and use, avoiding surprises.

Link to PDF

FAQs

ACH Services

B.O.B. integrates seamlessly with major accounting software like QuickBooks, Quicken, and AutoBooks, simplifying your financial operations by allowing direct uploads from these platforms for efficient payment processing and collections.

ACH-service

Domestic Wire Requests

Our streamlined wire transfer process ensures that you can initiate transfers directly through B.O.B. without the need to visit the bank. For added security, each request is verified through a follow-up call to confirm the transaction with a pre-selected security code, safeguarding your funds and providing peace of mind.

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Cost Efficiency and Business Growth

B.O.B. is designed to streamline your day-to-day banking and save you money. By consolidating various financial services under one platform, you can reduce the costs associated with third-party providers. This cost efficiency supports your business's growth by freeing up resources that can be better invested back into your core activities.

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Advanced Security and Fraud Prevention

Positive Pay

Our Positive Pay service acts as a robust defensive mechanism against check fraud. Before processing, the check details must fully match the pre-authorized information. This level of control significantly mitigates the risk of fraudulent transactions impacting your business.

Positive pay

business-online-banking

Business Online Banking

Discover the Difference with B.O.B. Today

Visit Waldo State Bank or contact one of our business banking specialists to find out more about how B.O.B. can transform your business banking into an efficient, secure, and highly personalized experience. Let's partner to advance your business to new heights with B.O.B., where your business banking needs are met with innovative solutions and dedicated local support.

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