You may be your own CFO, but you don’t have to manage your financials alone. Your bank can become a key partner in your success by providing insights, tools, and a depth of knowledge that can help inform and improve decision-making and strategy.
Wells Fargo customers can take advantage of a suite of tools available on its website and a wealth of information from bankers inside branches. Here are two ways your bank may help you grow your business.
Wells Fargo’s online banking tools offer a convenient way to easily check account balances, make payments, deposit checks1, and transfer funds2. But there are other capabilities and digital resources that can help with your business planning.
For example, My Spending Report, which is found in the online portal, automatically organizes your Wells Fargo Credit or Debit Card transactions, checks, and Business Bill Pay payments into predefined categories. This feature helps you easily monitor and track your expenses, which is helpful when you’re preparing your tax returns or making decisions for next year’s spending.
My Spending Report also tracks your deposits, giving you a comprehensive overview of your business finances. You can easily identify your largest clients and the portion of your business that comes from them.
Another helpful online tool is Budget Watch, which allows you to easily create a simple customized budget using your transaction history. You can track your progress toward your monthly goals by viewing your budgeted “Money In”/“Money Out” and “What’s Left” each month.
Another valuable online tool is the array of alerts3. Account alerts, for example, help keep track of the activity in your bank accounts. You can opt-in for text, push notifications, or emails that give you a daily summary of your transactions, including withdrawals, charges, and deposits, so you can have a snapshot of your financials.
Payment alerts help you potentially avoid late fees by notifying you when payments are due so you can properly manage your finances. Credit card alerts help you to keep up with your charges, spending, and any suspicious activity or charges to your credit card.
And security alerts allow you to keep an eye on who is using or trying to access your account. For example, you’ll get a security alert if someone tries to unsuccessfully log into your account. Alerts are also sent to provide confirmation when usernames, passwords, or personal information is changed.
Larger businesses can take advantage of Wells Fargo Commercial Electronic Office® (CEO) Commercial Solution, which provides a broad range of help for meeting your financial goals. For example, corporations can take advantage of payment solutions that help improve working capital, lower costs, achieve greater operating efficiency, and save time. And get information reporting solutions that optimize cash flow and help you make informed decisions.
Many business owners leverage online banking, which can mean fewer trips to the branch. Don’t overlook the benefits your banker can provide when you take advantage of the relationship.
For example, your banker may help you improve cash flow by recommending tools that help you get paid faster. You may not be aware of the latest offerings, like Zelle®4, that can speed up accounts receivable and put money into your account, typically in minutes. Your banker may also suggest tools to help streamline payroll and payments by showing you how to automate functions like payroll solutions and recurring payments.
Small-business owners are often their own CFOs, but it can be easy to overlook the details when you’re running a business. Your banker can also provide service, advice, and guidance, and may be able to help you with strategies for growth, evaluating expenses, and identifying areas for saving money. They can also help ensure that your financial goals are aligned with your business’s current account health.
Your bank is a great place for keeping and managing your finances. It may also become a resource hub of insights and information that helps your business thrive. Take advantage of everything Wells Fargo offers to help make your business grow in 2022.
1. Mobile deposit is only available through the Wells Fargo Mobile® app. Deposit limits and other restrictions apply. Some accounts are not eligible for mobile deposit. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply. See Wells Fargo’s Online Access Agreement for other terms, conditions, and limitations.
2. Terms and conditions apply. Setup is required for transfers to other U.S. financial institutions, and may take 3 – 5 days. Customers should refer to their other U.S. financial institutions for information about any potential transfer fees charged by those institutions. Mobile carrier’s message and data rates may apply. See Wells Fargo’s Online Access Agreement for more information.
3. Sign-up may be required. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply.
4. Enrollment with Zelle® through Wells Fargo Online® or Wells Fargo Business Online® is required. Terms and conditions apply. U.S. checking or savings account required to use Zelle®. Transactions between enrolled users typically occur in minutes. For your protection, Zelle® should only be used for sending money to friends, family, or others you trust. Neither Wells Fargo nor Zelle® offers a protection program for authorized payments made with Zelle®. The Request feature within Zelle® is only available through Wells Fargo using a smartphone. In order to send payment requests to a U.S. mobile number, the mobile number must already be enrolled with Zelle®. To send or receive money with a small business, both parties must be enrolled with Zelle® directly through their financial institution’s online or mobile banking experience. For more information, view the Zelle® Transfer Service Addendum to the Wells Fargo Online Access Agreement. Your mobile carrier’s message and data rates may apply.
Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.