Small Business Online Banking FAQ

MemberDirect® Small Business FAQs

General

How does MemberDirect®Small Business differ from personal online banking?

Small business online banking offers the same features as personal online banking, with the addition of powerful features to help you save time and stay on top of your cash flow:

-Delegate others to view business accounts and/or initiate transactions

-Consolidate your accounts so that you can see your business and personal accounts using a single login.

-Manage dual signers on business accounts that require two people to approve payments and transfers.

What is a delegate?

A delegate is someone such as an employee, bookkeeper or family member that you have granted permission to access to your online business accounts.

Can delegates see my personal accounts?

When you create a delegate, you can specify which membership the delegate can access. In Small Business Online Banking, you can allow the delegate to view your business membership but not your personal membership.

Can delegates see my e-Documents?

Yes, some documents will be visible by delegates. Access can be controlled by document category and customization of access can be administered by your credit union.

How can I check for initiated transactions on my mobile device?

If you are the signer for an account, you can use the Transaction Manager feature with your mobile banking app or the mobile web browser to review, approve or reject pending payments and transfers.

What is account consolidation?

Account consolidation allows you to see all your business and personal membership accounts using a single login.

Who can see my consolidated accounts?

Consolidated accounts are only visible to the signer who combines them and to authorized delegates.

What information is not consolidated?

While your account and transaction information will be accessible via one login, the following services will only be accessible from the accounts you originally set them up in: e-Statements, e-Documents, Canadian Revenue Agency (CRA) information and any personal messages we have sent to your account.

Who can see accounts via the mobile web or mobile app?

Signers can see accounts via the mobile web and mobile app. Delegates can only access account information through our full online banking site.

What is the dual signature feature?

Our dual signature allows you to authorize two signers in online banking who must approve transactions from a business account before it can be completed.

How many signers can we have for an account?

Business account members can choose to have up to three signers for one account, including themselves. Our dual signature feature allows any two of those signers to act as dual signers for any single transaction.

Delegate Manager

What is a delegate? 

Delegates are people within a business who have limited access to online banking accounts. Delegates are created by signers and can be either read-only or initiators.

How do I choose a delegate’s login and password?

When you click Add Delegate and are taken to the Add Delegate page, your delegate’s login is automatically generated and cannot be changed. You must enter a temporary password (a strong password contains numbers and upper and lower case letters) and communicate it to your delegate in a secure way. It is best to transmit the login and password separately.

Why can’t I change my delegate’s login?

Your delegate’s login is automatically generated to ensure that it remains unique and secure. It cannot be changed.

What is the difference between read-only and initiator access levels?

Initiator delegates can view accounts and initiate (or set up) transactions, which must be approved by signers. For example, your receptionist may have read-only access to look at transactions, while your book-keeper will have initiator access to set up bill payments and transfers.

Why isn’t the Add Delegate link working?

Each signer can add a maximum of three delegates. Once you have three delegates, the link becomes inactive.

Will my delegate see my personal accounts?

Delegate can only see the accounts you have given them access to. If you don’t want delegates to view any personal accounts you have added to the Consolidation Manager, make sure those accounts are not selected for delegate access.

I have a dual-signature account. Does my partner need to approve the addition of my delegate?

No, but your partner must approve any transactions that your delegate may initiate. 

What should I do if my delegate forgets his password?

You must assign a new password. In Delegate Manager, click Edit beside your delegate’s name to access the Edit Delegate page. Enter a new temporary password. You should give your delegate the new password in a secure way. The delegate will be prompted to change the temporary password after logging in.

How do I restore access for a delegate who is locked out of online banking? 

In Delegate Manager, click Edit beside your locked delegate’s name to access the Edit Delegate page. Check the ‘Unlock this account’ checkbox to restore your delegate’s access.

How can I permanently remove a delegate’s access?

Click on Delete beside the delegate’s name in the Delegate Manager to remove the user permanently.

How can I temporarily remove a delegate’s access?

In the Delegate Manager, click Edit beside your delegate’s name to go to the Edit Delegate page. Change the delegate’s status to Inactive. When you want to restore delegate access, change the status back to Active.


Transaction Manager

How do I recall a transaction?

Recalling a transaction effectively cancels the transaction request. You can recall any transactions that appear under Transactions Requiring Review from Others. Any transactions that have already been approved or rejected cannot be recalled.

How do I create a similar transaction?

You can create similar transactions by clicking Create a Similar Transaction on any transactions listed under Rejected, Expired, or Recalled Transactions. Simply enter the new amount and click “Submit”.

What does it mean to initiate a transaction?

Delegates initiate transactions that require approval from signers. Initiating a transaction involves setting up the transaction by entering information such as the type of payment, account to transfer from, payee, amount, and the payment date. A signer must approve it in order for the transaction to actually take place. Transactions created by a delegate become Pending Transactions and require approval from a signer. These transactions must be approved by the date stated under “Transaction Status” on the receipt page; otherwise they will expire and will not be carried out. Once the signer approves a transaction, it is carried out by the banking system.

Do signers have to approve a recurring transaction every time it occurs?

No, the signer only has to approve the recurring transaction once, when it is first initiated.

How do I view archived transactions?

Click Go to Archived Transactions in the Transaction Manager. You can search for archived transactions by transaction type, recent transactions, month, or date range.

Why has my transaction expired?

Transactions such as bill payments must be approved by a certain date, otherwise they will expire. The expiry date can be found under "Transaction Status" on the receipt page when the delegate creates the transaction, and under "Payment Status" in the Transaction Manager.

Where can I see my approved transactions?

Once a transaction is approved, it can be in history of the account from which funds were taken.

I can't see last month's transactions on the Transaction Manager page - where are they?

You can view all transactions that are more than 30 days old by clicking go to Archived Transactions.

I have a dual-signature account. Do all transactions require two approvals?

A dual signature account is used by businesses that require two signatures to approve a transaction. These accounts have two signers, and each signer can add three delegates. If you have delegates, all initiated transactions that involve the transfer of funds require approval from both signers. For example, a bill payment requires two approvals while the account activity can be viewed by the delegate without any approvals.

Consolidation Manager

How do I add a consolidated account?

To add a consolidated account, click the Consolidate Account link at the top of the page. Then complete the information on the Consolidate Account page. After you have added the maximum number of three consolidated accounts, this link will become inactive. 

How do I remove a consolidated account?

To remove a consolidated account, click Remove to the right of the account in the Account Consolidation Manager. This does not affect the account itself. You can continue to access that account by logging directly into it.

How do I use the Update PAC link?

This link will appear when an account could not be accessed, probably because of an incorrect PAC. Click the link and enter the PAC used to log directly into this account. Your PAC will be updated and you will be able to view the account along with your other consolidated accounts.”
 

 

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