So you’ve connected an external business bank account to Viably AND you’ve been approved for a Viably business account - you’re really tapping into that all-in-one visibility! Now let’s talk about how you can easily manage and move your business’ money where you need it, when you want it.
From the Viably cash dashboard, you’ll see ‘Move Money’ in the upper righthand corner. Let’s review how the ways you can move money in Viably including:
Quick note before you get too far – in order to complete some of the ACH transactions, a plaid externally-connected business bank account is required. You can easily do this within the money movement details’ page OR you can head back to your Cash Dashboard to securely connect now!
Options to Source the ACH Transfer
To my account-
This is a great option to help fund your Viably business account! Money will be pulled from one of your Plaid-connected business bank accounts (i.e. your Wells Fargo business account) and sent to your Viably business account.
If you’d like to move money into your Viably business account from a new external account, you will need to select “Add new funding account” and follow the steps in Plaid to securely connect to that institution.
*Note: if this is the first time you have connected a business bank account through Plaid, you will have the option (if you wish) to add that account to your Viably Cash Dashboard for future visibility across all your business bank accounts!
From my Account-
Using this method, your Viably business account will source the funds. You can push money from your Viably business account to an external business bank account.
If you’ve already connected business bank accounts through Plaid into Viably, they will be displayed in the ‘Who are you paying?’ dropdown.
If you are making a payment to a new account, you can select ‘Pay someone new’ and follow the steps through Plaid to securely link that receiving institution.
Send a payment-
This money movement option gives you the control to initiate an ACH payment from your Viably business account to a specific payee. You can select the recipient from your pre-existing list and then follow the steps to submit the payment.
If you’re issuing a payment to a new payee or vendor, adding them is simple. From the “Who are you paying?” dropdown, select “Pay someone new.”
Have their bank details at the ready (this includes account type, routing and accounting numbers) for a quick-add!
Send a physical check-
Issue a physical check from your Viably business account! With this option you will be prompted to include the following, which will show as a preview for the issued check:
Who the check is being issued to - either selecting from an existing list of payees or adding a new user’s details
The amount to be paid
A memo (optional) to be shown in the memo line
A message (optional) that is included in the paystub sent with the issued check
*Note: Slightly different from the other money movement options, the summary screen captured here is a review and preview of the check you’re issuing.
Once you have selected the source for the ACH transfer and entered the required information, you then have the opportunity to review a summary of the planned transaction. This summary captures:
Where the transfer is originating
The amount of money being transferred
Where the transfer is being sent
It’s important you review this summary, as once it has been initiated it can not be canceled. You will receive email notifications to provide status updates of the transactions and when the funds are available.
That’s it! With just a few clicks you’re able to seamlessly fund your account or make payments…from one place.
Save yourself time and banking fees by applying for a free Viably business account, today!