Business owner became bankrupt because of inadequate fund management. See how GTB online banking system help manage your business funds effectively. Read on.

Online banking also known as internet banking is an electronic system of payment that allows bank customers or any other financial institution, organization or industry to carry out a range of financial transactions through the bank website.

Online banking happens to be part of a banking system that is operated by banks to enable customers to access basic banking services. 

The advent of online banking minimize banks operating cost by reducing dependence on a branch network and ensuring more convenience and saving customers’ time as well. Through online banking, customer or any organization can perform transactions even when banks are closed.

Online banking grants both personal and corporate banking services offering characteristics like; viewing account balances, accessing statements of account, transferring money between one or more accounts, making payments and checking recent and previous transactions.

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With the establishment of online banking, consumer needs not to visit a bank branch to carry out most of their banking activities. They can do them at their own comfort time be it at home, work, office etc.

Although, banks services that are available to be assessed online varies. Majority of banks made available some basic services like; transfers and bill payments while some (banks) allow any interested customer’s to open new accounts and even apply for their credit or debit card through their online bank portal.

To access online banking, a computer or any devices that have an internet connection and a bank is required. Clients have to register for their bank’s online banking services.

The online banking system however is divided into two. Some banks operate exclusively online while some perform online and traditional banking services together.

Banks that perform exclusively online, for instance, Opay, Kuda etc has no physical branch. They control their services with the customer’s through the mail, phone or online chat.

They do not make provision for a direct automatic teller machine for their consumers to make use of but partner with other banks that has physical building to make provision of the services for their customer. For instance, Opay customer can use their debit card to access Zenith Bank automatic teller machine.

The Importance of Online Banking To Business

In managing a business, choosing the most reliable, trusted and competent way of managing the business money is very important. In the current age where everything has gone online through the internet, the management of business funds however has been brought to the fingertips of business owners or managers with the help of the internet thus, embracing an online method of managing business, firm or industry finance became necessary.

Below Are The Major Advantages of Online Banking To Any Business

Comfort and Convenience 

Through internet banking, one can carry out a transaction at any time. That is, you don’t need to make any adjustment to your schedule in other to meet up with bank branch service hours to perform your transaction.

Needing to follow the queue as well, is very time consuming and uncomfortable. In a matter concerning business, it is quite not advisable to waste lots of time queuing just to get a thing done. Online banking thus, has provided a more convenient and comfortable way for any business owners to interact with their bank and carry out any transaction.

In a situation where you happen to often embark on a business trip, bank transactions can still be done by you with the help of online banking.

Online banking is a bank service that is always available thus; it can still be assessed on a weekend or even holiday.

Simple to Understand and Monitor

Businesses may likely perform numerous transactions a day thus; it’s very easy to make an unnecessary mistake while trying to check your bank history for the day.

However, with instant aces to your accounts, you are at the labret to check each transaction as they go with ease. For example, if you want to check your available balance or transfer money from one account to another or to confirm any transaction, you can simply make use of your online banking facility to monitor all the services and transaction that has taken place in your account instead of going to your bank branch for such confirmation.

Can Pay Bills

One of the paramount advantages of online banking is it can be used to pay bills online and save the payee information for future payment or clarification purposes.

This is helpful when bill amounts occur over time as you can log in and select the particular individual you want to pay.

Less Expensive

With online banking, a business can establish a less expensive means of tracking and monitoring company finances through the use of a computer or mobile phone.

Through online banking, a business can evade traditional banking service costs by leveraging automated tools like; electronic fund transfers (EFTs), which helps make bills payment quickly without any extra charges attached to them.

Through automated bill payment of the company’s bill depict management of finance and as well help avoid unnecessary late fees. Most monthly bills or routine expenses can all be made electronically. This as well saves time and money for the company.

GTBank Online Banking And How It Help SMEs Carry Out Seamless Transaction

As one of the giant banking industries in Nigeria, the Guaranty trust bank (GTB) has established an online banking system to ensure its customer’s convenience.

GTB online banking system is a safe and secure way established by the banking industry to enable their customer to access their account, manage payment, access their statements of account etc from the comfort of their home, at work or even outside the country 24 hours daily.

The GTBank internet banking brings all her customer into a world without hiccups or limits in carrying out banking activities. It is a robust channel established with the state of - the – art technology that gives unlimited access to customer’s accounts and ensures convenience.

Through internet banking, you can have access to convenient management of your finances fast, quickly and easily at any time that is most comfortable to you.

How Does GTB Online Banking Help SMEs Carry Out Seamless Transaction

Small business owners that are banking with GTB stand to benefit a lot from using their bank online service to generate value and save time. The time that should be dedicated to developing the business is conserved, instead of wasting it in the banking hall.

GTBank online banking helps business owners to better paddle around the world of online financial operations.

Below are key ways GTB online banking system can aid SMEs to carry out their transaction.

Flawless Sync With Accounting 

Accounting is one of the biggest hunches for business owners to control. With the advent of GTB online banking, the business owner will thus find it easier to go through their day to day transactions. This gives business owners enough time and money and as well make them to have updated financial report on the spot.

Enhanced and Improved Security

Online banking enables small businesses to modify employees that will have access to their banking details. As all employees must not have access to the business account, online banking has the features that will enable business owners to share their accounting content with their preferred selected employees that are in the business.

Developed and Better Organization 

Adoption of online banking by any business will help the business to have an organized finance. The business account is under your control and at your fingertips as well as to have the liberty to go through any transactions that are carried out on it in a very comforting manner.

You can track and monitor where your money is going and even set up routine payments.

Accessible From Part of The World

GTB bank online banking has made it easier for customers to access their accounts from any part of the world. You can log in to your account from anywhere to check your available balance or give access to any payment. The total convenience offered by online banking alone is enough for small business owners to adopt to ease their business transaction activities.

Fraud Alerts

Through online banking, you can see transactions as they are ongoing and if something fishy is about to happen, GTBank through their improved security will alert you and as well give you an insight on what to do to avert such fraudulent activity.

Simple and Easy Tracking

Online banking provides business owners easy follow up or tracking of financial activities. When you use online banking for bill payment, tracking your incomes and outflows is effortless.