FinanceWorks Maintenance
 
We will perform FinanceWorks maintenance beginning at 10:00 p.m. Central Time on Tuesday, August 21. This maintenance period may last up to four hours. All other Online Banking functionality will remain available. We apologize for any inconvenience.

 

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Frequently Asked Questions about Online Business Banking

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What are the Features and Services?

FREE* Online Business Banking

  • Administration - offers a full suite of administrative functions including end user maintenance, activity reporting, account maintenance, password modification, and the inactivity timeout setting. Your company administrator has access to all of the Administration options.
  • Account Activities & Reporting - provides summary information at a glance and also allows a drill-down into additional detail for a specific account. For added convenience and utility, the Account Summary page may be customized by using the Create Reports feature. Online Statement can also be viewed online within this service group.
  • Account Downloading - download account information into a Comma Delimited file or HTML file.
  • Account Transfers - move funds between your business accounts within Gate City Bank. Transfers can be scheduled for the current day, a date in the future or on a recurring basis.
  • Stop Payments - place stops on an individual check or a range of checks. Note: At this time, Online Business Banking does not allow a business to send through a request to stop an ACH item.
  • Online Services - provides a direct request channel for Gate City Bank services: photocopies of checks or statements, investigation of questionable transactions, online cash/check orders and requests to stop receiving paper statements.
  • E-mail - provides a secure direct link between the business and Gate City Bank.

*Free Online Business Banking requires signing up for Online Statements.

Online Business Banking Premier

In addition to receiving all the great benefits with Free Online Business Banking, with Online Business Banking Premier, you can enjoy additional features, including:

  • Bill Pay - pay all your bills online - in one site. Schedule one time, recurring, and automatic payments. Businesses may set up email notices, e-bills, and customize downloadable reports.
  • Sweep Processing - set up automated sweeps to keep their balances within certain limits. When a limit is reached, the system transfers money between the specified accounts and sends an email message to indicate the activity.
  • Wire Transfers - move funds between accounts that are within different financial institutions.
  • WebConnect for QuickBooks
  • ACH Origination - create ACH files and submit them to Gate City Bank. An ACH transfer is the electronic transmission of a file which contains information pertinent to the movement of funds between accounts. An ACH transfer is commonly used to expedite direct deposit of payroll, pay bills, concentrate funds from other financial institutions or collect membership dues. Note: An approval process is required for this service.
  • Reconciliation Services/Positive Pay Exceptions - import an issues register file or manually input issues and display exception items. The Positive Pay Exception Decisions feature allows you to review all discrepancies that have occurred between your own issues records and those processed by Gate City Bank and submit decisions (pay or return).
  • Remote Deposit Capture - deposit your paper checks electronically. Note: An approval process is required for this service.

Fees apply for Online Business Banking Premier and optional services. For more information, visit the banking location nearest you or speak to one of our Customer Service Specialists.

How do I sign up for Online Business Banking?

To apply, please contact us.

How long will it take to approve and set-up Online Business Banking?

After the application is submitted, please allow 3 business days for processing. A welcome packet will be mailed to your Company Administrator with their ID and password.

Note: Please allow 7 business days for ACH or Remote Deposit Capture approval.

What are the fees?

Please contact us for the current schedule of charges

How many users can a business set up?

Unlimited - A business can set up 1 user or 1000 users.

Who will train the businesses employees?

Gate City Bank will provide a user guide for Online Business Banking. Training will depend on the location and the needs of the business.

Does Online Business Banking login information include any "personal" info such as name, account number, social security number, etc.?

No. Gate City Bank defines the Company ID, and no personal information is required by Online Business Banking to log in.

What file formats are available for downloading transactions?

  • WebConnect for QuickBooks (.qbo) - Online Business Banking Premier only
  • QuickBooks (.iif)
  • Quicken/Money (.qif)
  • Comma Delimited (.csv)
  • HTML

How will Stop Payments be processed?

When a user submits a stop payment request, the request comes to Gate City Bank. Stop payments will be processed between the hours of 9:00 am (CT) and 5:00 pm (CT).

How do I know the status of a Stop Payment?

The "View Stop Payment Activity" function allows the business to view stop payments transaction status.

Unprocessed - Request has been sent to Gate City Bank and is awaiting action.

Processing - Gate City Bank has received the request and is in the process of completing the request.

Completed - Gate City Bank has completed the user's request.

Declined - Gate City Bank is unable to complete the user's request.

What is an ACH Batch?

A batch is what the business creates to send ACH transactions into the ACH network. A batch is a group of records considered as a single unit for the purpose of data processing. The business creates a batch that will have required information to send an ACH transaction. Each batch will contain an effective date for the transactions, the business name, the account numbers, dollar amounts, customer names and routing numbers for the individual transactions.

How do effective dates for ACH credits and debits work?

Online Business Banking does not allow same business day effective dates because you can't create a same day ACH transaction. According to NACHA rules, a transaction can not be entered into the ACH network until the effective date is within one business day for debits or within two business days for credits.

However, the business can initiate their batch prior to these restrictions. Gate City Bank has a system that will warehouse the batches created by the business until the effective date is within the NACHA guidelines. We recommend initiating your ACH batch at least two business days before the effective date.

What is the established cutoff time for ACH?

Gate City Bank currently has set ACH batch cutoff time to 4:00pm (CT).

Can I reverse an ACH batch?

The business can submit a request to Gate City Bank. Depending on the circumstances, a transaction or an entire batch may or may not be able to be reversed.

When will the business receive a debit or credit for the ACH batch?

The debit or credit for the batch total will be posted to the business's account on the effective date of the ACH batch.

Can international/foreign wires be done?

Yes.

Does Online Business Banking verify the ABA Number for transactions that require it?

Online Business Banking verifies the ABA number against a database of valid ABA numbers that is updated regularly.

What is the established cutoff time for Wires?

Gate City Bank currently has set the wire cutoff time to 2:00pm (CT).

What is the email content for Alerts?

This is an example of a balance alert: The balance in your Certificate Of Deposit account is currently above $50.00 (created 06/20/2001 10:55 AM by user AUSER)

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