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Let’s Talk About Online Entitlements

Let’s talk about online entitlementsBusiness owners continue to explore new and convenient ways to do business while maintaining social distance whenever possible. Many have turned to Chelsea Groton to learn how our digital banking services can help them safely and securely manage their business virtually.

Some people may not be aware of all that can be accomplished through a single sign-on into online banking. Businesses are able to deposit checks without visiting a branch location, pay vendors, and employees electronically in order to avoid check writing, and provide employees with the convenience of direct deposit. Businesses can also initiate wire transfers, pay bills, and monitor activity with tools such as Positive Pay and Alerts.

While these digital services provide a wealth of convenience and protection, it's important to know that the Chelsea Groton team is here to support businesses in understanding and utilizing these helpful tools.

Let’s Talk Online Entitlements

Chelsea Groton Bank offers an “Entitlements” feature to business customers who use online banking. This feature enables a business owner to grant online access to multiple individuals with varying levels of access and authority.

For example, one employee may be authorized to view account activity or e-statements, and a different employee could be permitted to transfer funds between accounts, place stop payments, and pay bills. Many business owners find it convenient to even add their accountant, in order to avoid having to send bank statements. There is no limit to the number of people who can be given access to a business’s online banking account(s). Each sub-user the business owner creates will have his or her own unique user ID and password which is controlled by the owner or another designated Administrator. Users can be added, modified, or disabled at any time within the online banking system.

Here are a few advantages of this feature:

  • Divide financial responsibilities so no one employee has access to invoicing and receivables.
  • Reduce the possibility of fraud, since multiple people can be involved in monitoring account activity daily within online banking and by checking various aspects of the cash flow.
  • Alleviate some of the burden and time of managing banking operations by delegating to employees certain banking responsibilities with varying degrees of access.

Every business has needs that are unique and specific to them. Entitlements enable businesses to create robust internal controls and delineate roles and responsibilities to optimize their daily operations. Interested in learning more about Business Online Banking Entitlements?

Give us a call at 860-448-4203 or email us so our team can provide you with personalized solutions that fit your business' needs.

 

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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You are now leaving Chelsea Groton Bank's Website.

Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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