FDIC -Insured-Backed by the full faith and credit of the U.S. Government
Have a question? We’re here to help. Browse through our comprehensive list of frequently asked questions for guidance and solutions to various topics. If you cannot find what you’re looking for, do not hesitate to contact us for further assistance.
What are your branch hours?
We are open 9:00 am – 4:00 pm Monday – Friday
Why do I need to separate my business and personal accounts?
Separating finances is crucial for accurate record-keeping for tax purposes, simplifying accounting, and providing legal protection by distinguishing personal assets from business assets.
What documents do I need to open a business bank account?
Required documents typically include a business license or registration, articles of incorporation (for corporations), an Employer Identification Number (EIN), and personal identification for all account signers.
Are there monthly fees or minimum balance requirements?
This varies by account type and bank policy. Some accounts may have no monthly fees or minimum balance requirements, while others do. It is best to check with your Banker.
Are there limits on the number of transactions I can make?
Some business accounts include a set number of free monthly transactions (e.g., checks processed, debits). Fees may apply for transactions exceeding these limits.
Can I manage my business accounts online or via a mobile app?
Yes, we have online banking and mobile apps, including features like 24/7 account access, transaction history, bill pay, and mobile deposits.
What is mobile deposit and how does it work?
Mobile deposit is a service that allows you to securely deposit checks using your smartphone or tablet by taking photos of the front and back of the endorsed check.
How do I endorse a check for mobile deposit?
You should sign your check and add the endorsement “For Deposit Only” along with your company’s account number.
When will my mobile deposit funds be available?
Deposits made before the daily cutoff time are typically available on the next business day, though holds may sometimes be applied.
What types of business loans are available?
We offer business lines of credit, equipment financing, and Small Business Administration (SBA) loans.
How do I apply for a business loan?
The process often begins with a meeting with a bank representative to discuss your business needs and goals. They will outline the required financial documents, such as business plans and financial statements, and guide you through the application.
How can I protect my account from fraud?
To protect your account, monitor activity regularly, use strong passwords, enable two-factor authentication, and be cautious of phishing scams.
Can multiple users be established for a single commercial customer?
A commercial customer may have multiple end-users, each with different security access to Mission Valley Bank’s Business Online Banking. Each end-user is set up with their own account access and feature functionality options.
Can a Balance Alert e-mail message be sent to the customer when an account reaches a certain amount, e.g. more than $50,000?
Yes. The company administrator sets up Balance Alerts. If a selected account balance rises above or falls below a specified amount, Mission Valley Bank Business Online Banking will automatically send an e-mail message to the specified address.
Can Mission Valley Bank’s Business Online Banking “sweep” accounts and move money when certain balances are reached?
Yes, the Sweep feature is similar to the Balance Alert feature, but with additional book transfer options. If a selected account balance rises above or falls below a specified amount, funds may be automatically moved into or out of the selected account.
What will I need to connect to Mission Valley Bank’s Business Online Banking?
An Internet browser equal to (or higher than) the following is needed to connect to Online Banking.
Microsoft Windows (98, ME, 2000, XP)
- Microsoft IE: 6.0 or higher
- Mozilla Firefox: 1.0 or higher
MAC OS X (OS 10.0.38 or greater)
Mozilla Firefox: 1.0 and higher
Can I upload ACH files created with my own software?
Yes. ACH files may be uploaded by customers and then processed through the financial institution’s administration platform.
Can data be extracted to external applications? Can it be extracted and stored to disc?
Yes. Mission Valley Bank’s Business Online Banking includes an export feature that will download a file containing transaction details into various financial management applications, including Quicken, QuickBooks, Text and comma delimited (CSV) formats.