We want to keep your business running as smoothly as possible during our technology upgrade! This section will advise you on what is changing for your business banking services, what is staying the same, and which accounts may be affected.
What’s Changing for Businesses?
- Online and Mobile Banking are getting better with a streamlined, simple look and feel
- Checking and Savings products are changing their names
- More efficient in-person service when you visit our branch office
- Positive Pay will post on day 1 and exceptions will trigger on day 2
What’s Staying the Same?
- Account numbers
- Debit/ATM card numbers/access and your PIN
- Branch hours
- Bill Pay setup/payees
- Access to ATMs
- Your checks
- Scheduled transfers and/or loan payments
- Loan account numbers and billing schedule
- Our routing and transit number
- Existing direct deposits
- Loan statements
Upgrade Checklist
To make it easier for you, here is a quick checklist you can use for any actions you must take to ensure your banking is uninterrupted.
If you use Business Online Banking:
You no longer need a Company ID. Your user ID will stay the same (unless otherwise notified by the bank), but your password will need to be re-established.
If you have pre-registered, you will use the password you selected at pre-registration when logging into online and mobile banking for the first time after Monday, May 8th.
If you did not pre-register, you will use a temporary password when logging in for the first time after May 8th. Your temporary password will be the last 4 digits of the primary organization’s EIN plus the primary organization’s 5-digit zip code.
QuickBooks: there will be a 5-business day delay in access to the service, after which transactions will connect to the Direct Connect service.
If you use Business Mobile Banking:
You will need to delete your existing Main Street Bank Business Mobile Banking app and reinstall it after May 8th. The Mobile Banking App will be the same for businesses and consumers after May 8th.
If you use Business Cash Management services (ACH, Wires, Positive Pay, Remote Deposit Capture):
Be on the lookout for an invitation from the Main Street Bank Cash Management Team to get access to a full review of the updated services.
Remote Deposit Capture: new scanners will be deployed prior to Monday, May 8th. Be on the lookout for additional information to install your new scanner.
Business Accounts
You may notice some changes to your business checking, savings, and money market accounts, including their names. See below for the coming updates.
IMPORTANT ACCOUNT INFORMATION
Regardless of upcoming changes, all account numbers will stay the same and you will still be able to write checks and use your Debit/ATM card as normal — PIN will stay the same. Direct deposit and automatic payments and debits will be transferred automatically.
Business Passbook Savings
Passbooks are not available for business accounts. All business passbook accounts will be moved to Main Street Business Savings account. You will now receive a statement showing your savings account activity.
Overdraft Protection
Will remain the same as you have it now.
Statements (paper & electronic)
All Money Market Deposit Accounts and Business Accounts will cycle on the end of the month. 7 years’ worth of e-Statements will be available in the new online banking system. This includes statements obtained prior to e-Statement enrollment. This means you DO NOT have to download or print statements prior to May 5th.
e-Statements: your previous account statements will not be visible immediately as they are brought over to the new system. Past statements will populate gradually as the data migrates to the new system. You can expect to see the last 13 months of statements available by May 19, with the rest of your statement history becoming available over the next few weeks.
If you need access to a previous statement before it becomes available in the new system, please call us at 508-481-8300.
Please note: Main Street Bank will no longer forward any mail, even if a forward request is placed with the post office. Please submit an address change with Main Street Bank if you have moved.
Business Checking Accounts
| If Your Account is Called: | Your New Account Will Be Called: |
|---|---|
| Business Basic Checking | Main Street Business Basic Checking |
| Business Premium | Main Street Business Basic Checking |
| Corporate Analysis | Main Street Corporate Analysis |
| IOLTA Checking | Main Street IOLTA Checking |
| Nonprofit | Main Street Nonprofit Checking |
| Business Advantage Checking | Main Street Business Interest Checking |
Business Savings, Money Markets & CDs
| If Your Account is Called: | Your New Account Will Be Called: |
|---|---|
| Business Advantage Saving | Main Street Business Savings* |
| Business Passbook Savings | Main Street Business Savings* |
| Business Money Market | Main Street Business Money Market |
| Business Premium MMDA | Main Street Business Premium Money Market |
*No more monthly maintenance charges or minimum balance requirement.
Business Mobile Banking
We’re bringing you a whole bunch of new mobile banking capabilities and upgraded services, including a running balance listed, giving you the information you need right when you need it!
IMPORTANT ACCOUNT INFORMATION
While we work to upgrade your banking experience, you will not have access to mobile banking services from May 5th at 5:00 p.m. – May 7th. Mobile banking access will resume on Monday, May 8th, by 12:00 p.m.
How to Access the Updated Business Mobile Banking App
- After Monday, May 8th, delete the existing Business Mobile Banking App you have.
- Download the new Mobile Banking App, which will be the same app for both businesses and consumers.
Logging In
Your mobile banking password will not carry over with the upgrade. If you have pre-registered, you will use the password you selected at pre-registration when logging into online and mobile banking for the first time after Monday, May 8th. If you did not pre-register, you will use a temporary password when logging in for the first time after May 8th. Your temporary password will be the last 4 digits of the primary organization’s EIN plus the primary organization’s 5-digit zip code.
Bill Pay
Prior Bill Pay history will not carry over. Bill Pay service will not be available from Friday, May 4th at 5:00 p.m. through Tuesday, May 9th at 12:00 p.m.
Payees
Payees will migrate over with the upgrade. We recommend double-checking a payee’s recommended turnaround time on payments to ensure no late payments.
Business Online Banking
Your online business banking login will no longer require a Company ID. This means one less piece of information to remember when logging in! All Business Online Banking services will be unavailable during our upgrade on, May 5th starting at 5:00 p.m. and May 6th and May 7th. Business Online Banking is Scheduled to be available by 12:00 p.m. on Monday, May 8th.
View our library of business technology how to guides and resources for using the Business Online Banking system.
New Login Information
You will use the same user ID (unless you have been notified otherwise), and you will need to re-establish a password. If you have pre-registered, you will use the password you selected at pre-registration when logging into online and mobile banking for the first time after Monday, May 8th. If you did not pre-register, you will use a temporary password when logging in for the first time after May 8th. Your temporary password will be the last 4 digits of the primary organization’s EIN plus the primary organization’s 5-digit zip code.
You will no longer need your seven-digit Company ID.
Accounts
All existing business accounts will migrate over with the new system.
Business Cash Management
See “New Log-in Information” for logging into business online banking. Cash Management users can expect to receive a message from the Cash Management department with additional information on how to use the new system.
Bill Pay
Bill Pay payee information will migrate over with the upgrade. We recommend double-checking a payee’s recommended turnaround time on payments to ensure no late payments.
QuickBooks
You will experience limited functionality on QuickBooks for up to 5 business days after the new system is up and running as we work to fully integrate our new online banking system.
Positive Pay
Customers will now see items post to their account on day 1, and the exceptions will not trigger until day 2.
Remote Deposit Capture
Customers will be unable to deposit on the weekend of May 6th-7th.