As businesses grow, they often find that their control structure needs become more complex. This is usually because of an increased need to ensure that money is spent responsibly. Often, this means the need for multiple people to sign off on larger expenses, or for one person to have access to multiple accounts. But unfortunately, many banks’ bill pay systems don’t easily allow for complicated or customized control structures.
CPA Melanie Geist encountered these issues when working as a controller for a medical practice. The practice banked with Bank of America, which didn’t allow for more than one to have access to the same account. When paying bills for the multiple physicians in the practice, she had to log into each physician’s account individually to pay bills.
Melanie knew there had to be a more efficient way to pay bills on behalf of her clients, so she set out to find a solution. She researched the service offerings and fees of Bank of America, Capital One, Wells Fargo, and the Business Bank of Texas.
The large national banks’ offerings left her underwhelmed. They all required awkward processes and/or charged prohibitively high monthly fees. The Business Bank of Texas was the only bank that offered the exact bill pay functionality the medical practice needed without high monthly account minimums and fees.
“We could install dual security, view multiple accounts under one profile, have as many users as necessary. We could delegate and assign permissions where needed, and all with no service fees,” Melanie noted.
The Business Bank of Texas’ bill pay system offers this level of customization to all of our customers, without the high fees larger banks would charge. Here are a few functions that set us apart from the rest of the pack:
- Set up multiple users and multiple accounts
- Exporting files to upload into Quickbooks or other accounting software
- Outstanding check reports
- Dual security controls
Bill pay from Business Bank of Texas provides these advantages to companies with complex control needs, and allows for customization with lower costs and less hassle than our larger national competitors. Are you or a client in need of more customization and less fees than the large banks can offer? Contact us today to get started creating a more convenient and functional workflow for your bill pay needs.