Features

Deerwood Bank is pleased to offer our business customers a suite of banking services that include 24-hour access to your business accounts with online and mobile banking options. With Deerwood Bank Business Online Banking, you and your authorized employees can check balances, verify transactions and download account history. With all of this information at your fingertips, you can monitor and control your daily cash position and potentially reduce your borrowing. Additional detailed services are listed below:

Funds Transfer
Funds may be transferred between any of your Deerwood Bank accounts (excluding some lines of credit) identified for Online Banking or any accounts you have at other financial institutions. Transfers may be set up as either single or recurring and may be originated, edited, or deleted as needed. Please contact your business banking representative for more information.

ACH Origination
Automated Clearing House (ACH) Originations allow you to quickly, easily and electronically process large volumes of credit and debit transactions. Send or receive electronic payments for:

  • Direct Deposit of Payroll
  • Vendor Payments
  • Recurring Debits
  • Tax Payments

Merchant Credit Card Processing
Deerwood Bank partners with TSYS to provide options for processing your credit card receipts ranging from traditional paper processing to point-of-sale operations and more advanced electronic data capture. TSYS is among the nation’s premier providers of transaction processing services and payment processing technologies. For further details or to start a merchant account, click here. Features:

  • No contract
  • Countertop terminals
  • Phone- and tablet-capable devices
  • Online payment options

Prepaid Payroll Cards
Cost efficient alternative to paper checks

  • Convenient for employees that do not have a bank account
  • Directly deposit payroll on your employees’ reloadable payroll card

Wire Transfers
A fast, efficient way to transfer funds from one bank to another.

  • Transfers can be done in person, over the phone or requests can be sent through online banking
  • Set up one-time or recurring wire transfers

Positive Pay
Web-based service to help your business combat check fraud

  • Send us an electronic list of all checks issued, only checks that match that list will be paid

Account Reconciliation
Using Online Banking, you can download your company’s current statement of activity and reconcile accounts quickly and efficiently. Several software programs will interface directly with Deerwood Bank’s Online Banking, including Quicken, QuickBooks, Microsoft Money, and Open Financial Exchange (OFX).

Bill Pay
Businesses can save valuable time with the ability to pay bills online. Scheduling payments electronically is easy and can be set up as either one-time or recurring payments – up to a year in advance. Eliminate the hassle of writing checks and applying postage stamps.

Security
Deerwood Bank’s online banking system utilizes a layered security approach to authenticate the identity of our customers and minimize the risk of unauthorized access to your accounts. Our fraud detection monitoring system considers each customer’s history and behavior pattern, alerting bank staff of any “red flag” activities.

Most importantly, our Online Banking System allows you, our business customer, to setup a wide variety of account alerts, customized to meet your business’ individual needs. You or your designated employees can receive a text, email or secure message alert anytime any of the following occur:

  • Password change attempt
  • Login from outside a specified geographic region (e.g. out of state)
  • Internal transfer amount greater than $xxx.xx
  • ACH transaction greater than $xxx.xx
  • Additional personalized notifications can also be customized online

Other Services

  • Gift Cards
  • Notary Services
  • Safe Deposit Boxes
  • 24 Hour Telephone Banking
  • Night Depository Access
  • Lock Box Service
 

Frequently Asked Questions

Q: What are the Online Security Recommendations?
A:

Online security recommendations control access to online banking by implementing safeguards including:

  1. Appoint a Security Administrator;
  2. Maintain the confidentiality of User IDs and passwords required for online banking and regularly change such passwords;
  3. Dedicate one computer exclusively for online banking and cash management activity;
  4. Verify use of a secure session (“https”) in the browser for all online banking;
  5. Do not allow a workstation used for online banking to be used for general Web browsing and social networking;
  6. Do not allow the conduct of online banking activities from free Wi-Fi hot spots like airports or Internet cafes;
  7. Cease all online banking activity if the online banking application appears different and not legitimate. Do not continue and contact the financial institution immediately.

Train all users:

  1. To sign off online banking when not in use to prevent unauthorized access;
  2. On the risks of opening electronic mail and attachments and clicking on pop-ups and hyperlinks;
  3. To promptly report to Customer’s Security Administrator any suspicious activity.

Secure computer systems and transmitting facility by implementing strong safeguards that include but are not limited to:

  1. Use strong web content filtering and scanning, firewalls, multi-layered security technology, anti-virus, anti-spam, and anti-spyware products and procedures;
  2. Keep computer systems and transmission facilities updated with the most current security patches;
  3. Permit access to online banking only via a locked down machine;
  4. Take timely and reasonable actions to correct any issues that indicate that the businesses computer system or transmission facility has been compromised by hack, malware, or other forms of intrusion; and notify the bank immediately at 800-291-6597.

Dual Control:

  1. Initiate payments under dual control, with assigned responsibility for transaction origination and review;
  2. Avoid having employees use computer administrator controls to initiate and review payment transactions.

Account Security:

  1. Review accounts online daily; at a minimum, review pending or recently sent ACH files;

Take advantage of account alerts available within online banking.  You can choose one or more types of alerts to create.  Notification can be through a Secure Message – which is a message sent to your online banking account; a message sent directly to your email; or a text message via mobile phone.

Q: What is Customer Liability?
A:

Generally, the business is responsible for maintaining the confidentiality of the passwords and all transactions incurred using those user codes and passwords.  It should disclose passwords only to those individuals authorized to use online banking or a particular function level in online banking.  Anyone to whom the business discloses its passwords and anyone who has access to those passwords will have full access to the services that can be performed on online banking, including full access to the business accounts.  The person’s authority will be limited only to the extent that the password was established with limitations on the functions that could be performed using that password.  All communications containing proper user codes and passwords are authorized by the business and the bank will act upon those communications.  The business will be bound by any transaction performed by any person using that user code and password, and assumes full responsibility and liability for the consequences of any misuse or unauthorized use of or access to online banking services or disclosure of any confidential information or instructions of the business by its employees, agents or other third parties that gain access to those passwords – even if they were generated by a cyber-criminal.

As always, if you have any questions about Deerwood Bank’s Business Online Banking system or about any of our products and services, just give us a call at 800-291-6597 or at any of our offices.

Q: How do I log into online banking if I am a new user?
A:
  • Click on Access Your Account then Select New Internet Banking User-Setup Your Info
  • Enter in your User ID (in the first box)– Please use your SSN or TIN with no spaces or dashes
  • Enter in your password (in the second box)–Please use the last four digits of your SSN or TIN
  • Select Next
  • Read and select “I Accept” on the disclosure
  • Choose (or create your own) and answer 3 questions (note: the answers are not case sensitive)
  • Create a Security Key (a word or phrase–this will be displayed at the top of our web pages each time you are logged in to our site. (Do NOT type this in as your password.)
  • Enter email address (optional)
  • Select Finished
  • Enter New Password (password is case sensitive)
Q: How do I log into online banking if I have already gone through the security update?
A:

If you have already completed the Security Update described above, please log in:

  • Click on Access Your Account
  • Click Login
  • Enter your User ID (SSN) or (TIN)
  • Remember to just visually verify your Security Key; do not type it in for your password!
  • Enter Password (password is case sensitive)
Q: If I have automatic payments coming out of my account how will the website changes affect these payments?
A:

Payments will not be affected at all.

Q: If I have a direct deposit going into my account will the website change affect this?
A:

No, the website, online banking and bill pay changes will not affect direct deposit.

Q: What if I use my Tax ID as my user ID and not a social security number?
A:

What if I use my Tax ID as my user ID and not a social security number?

Q: How do I change my user ID?
A:
  • Log in to your online banking account (see procedures above)
  • On the top toolbar select Options
  • In the dropdown box that appears select Customer Info
  • Scroll down to Alternate Login
  • Enter in your new User ID in the box labeled Alternate Login (this is not case sensitive)
  • Select Submit
  • Select Confirm
Q: How do I change my password?
A:
  • Log in to your online banking account (see procedures above)
  • On the top toolbar select Options
  • In the dropdown box that appears select Security Settings
  • Select Change Password
  • Enter in your new Password in the box labeled New Password
  • Enter in your new Password again in the box labeled Confirm New Password
  • Select Submit
  • You should then see “You have successfully changed your Password”
Q: How do I sign up for Bill Pay?
A:
  • Log in to your online banking account (see procedures above)
  • On the top toolbar select Bill Pay
  • Click on “online disclosure document”. Read the disclosure and click on I accept the disclosure
  • Enter information in Account Setup Information