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Online Banking Safeguards for Small Businesses

Saturday, March 20, 2010 - 8:27 AM
There are fewer reimbursement protections for business bank accounts compared to personal accounts. As a result, it's especially important for small businesses to be careful with their bank accounts and their online banking. The consumer advocate, Clark Howard, recommends small businesses use a dedicated computer for online banking that's used for no other purpose. Clark also has the following recommendation to protect against fraudulent wire transfers:
Contact your bank and request double or dual authentication on any wires. That means a wire won't automatically take place when someone requests it. The bank must take the additional step of getting a second go ahead from someone at your business before completion.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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