CHARLOTTE, N.C., April 19 /PRNewswire/ -- For the first time, small business owners can manage invoices and pay vendors online, as a result of Bank of America's industry-leading enhancements to its online small business financial management service the company announced today.
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Bank of America now offers an even broader range of capabilities to improve money management processes for time-constrained small business owners:
- Accounts Receivable:
* Generate electronic and/or paper invoices with easy-to-use
templates.
* Manage outstanding invoices with automatic e-mail payment reminders
and past due notices.
- Accounts Payable:
* Make online deposits
* Make accelerated payments to vendors, including next-day service.
- Account Management:
* Grant varying degrees of online account access to other users to
view accounts or transact business.
* View accounts for multiple related business entities.
* Sign-on to a single page for personal and business accounts -
including accounts from other financial institutions.
* Integrate with QuickBooks and Quicken.
"Bank of America designed these tools to provide a constantly evolving set of internet-based solutions for small business owners," explained Joe Helweg, Small Business e-Commerce executive, at Bank of America. "Our enhancements are all designed and implemented to help free up our customers' time and enable them to focus on the core nature of their businesses. Small business owners told us they want to be able to handle more of their financial management needs for their businesses online, securely and quickly, and we're delivering."
Bank of America also offers SiteKey™ to its small business customers, which provides an extra layer of security with two-way authentication.
Account management with these tools costs $15 a month, plus $10 for up to 20 invoices per month and $10 for up to 20 payments per month. Vendors who receive invoices can make payments to small business owners directly online through a secure Web site for free.
To sign up, business owners can go to bankofamerica.com/smallbusiness. Customers also can sign up instantly for small business checking and savings accounts, CDs, credit cards, loans and lines of credit as well as card processing.
Bank of America has nearly 3.5 million small business customers, and 1.25 million of them use online services.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 38 million consumer and small business relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with 15 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Member FDIC. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. http://www.bankofamerica.com/
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SOURCE: Bank of America
CONTACT: Tara Burke of Bank of America, +1-203-292-6590, or
Tara.A.Burke@bankofamerica.com
Web site: http://www.bankofamerica.com/
