Business Banking - FAQs

Can I make deposits to my Webster accounts from my office?

Yes, as a business checking customer using Webster's Business Remote Deposit service, you can make deposits remotely from your office or place of business. This service can save you time and money by eliminating trips to the bank, and deposits made by 8:00 pm will be credited to your account on the same business day.

Do I need any special computer or software to use the remote deposit service?

Yes, in addition to using WebsterOnline and a certified check scanner, you should ensure that your computer meets the for this service.

How can I access my Business Line of Credit?

You can access your line by check or by making a transfer via Online Banking.

How do I get started?

Getting started is easy! If you are already enrolled in Webster Online Services, simply sign in to your account and access the Remote Deposit menu, click Make a Deposit and follow the application instructions. If you are not enrolled in Webster Online Services, you must first enroll before you can apply. Learn more.

Once your enrollment information is received, an implementation specialist will contact you to assist with the setup of your scanner and conduct training on how to use this service.

You must have a Webster business checking account to use this service and enrollment is subject to eligibility requirements.

How do I purchase a scanner?

During the Business Remote Deposit enrollment process, you will be provided with access to our where you can purchase one of our certified check scanners

If you already own one of the certified check scanners, you may be able to use it with our service.

How does the remote deposit service work?

With Business Remote Deposit, you submit checks for deposit through WebsterOnline using a check scanning device (scanner). During the deposit process, the scanner will capture the front and back image of the checks as well as the MICR (Magnetic Ink Character Recognition) information located at the bottom of each check.

Scanned checks are also endorsed identifying them as being deposited electronically. Scanned checks undergo a series of quality assurance tests to ensure they are acceptable within the industry guidelines for presentment and electronic settlement. Once all of your checks are scanned and the deposit is balanced, the check images are transmitted electronically through a secure system for processing. Once these steps are complete, the deposit is posted to your account.

Deposits made by 8:00 pm will be credited to your account on the same business day. Your deposit will become available for withdrawal according to our funds availability policy. Refer to your Deposit Account Disclosure for Business Accounts for more information.

Your deposit and check images are available online for 24 months.

Is there a cost for the Business Remote Deposit service?

Yes, there is a monthly fee of $45 with a business checking account or $35 with Webster Complete Business Checking.

Should I choose a Business Loan or Business Line of Credit?

Generally, a line of credit is a good choice if you aren’t sure exactly how much money you’ll need and over what period of time you’ll need it. A line of credit provides the working capital that every business should have to support its cash flow. A loan, on the other hand, is ideal if you want access to a one-time lump sum of money and more predictable repayment terms. Get in touch with a Webster Banker today for help choosing the right product for you.

What are the requirements to apply for a business term loan?

If you have a business, we’re here to help. Whether you’re a start-up or a more mature operation, we encourage you to reach out to a Webster Banker to talk about your lending needs.

What do I need to apply for a Business Line of Credit?

To complete the application, you’ll need to provide general information about your business and personal information about each owner, including the following:

For the business:

  • Tax Identification Number (TIN)
  • Most Recent Federal Business Tax Return (complete return required)
  • Number of years you have owned the business
  • Information on your current business deposit & loan accounts (if not with Webster Bank, N.A.)

For the owner(s):

  • Name, Address and Phone Number
  • Social Security Number & Date of Birth
  • Percentage of ownership
  • Personal income and financial information
What do I need to apply for a business term loan?

To complete the application, you’ll need to provide general information about your business and personal information about each owner, including the following:

For the business:

  • Tax Identification Number (TIN)
  • Most Recent Federal Business Tax Return (complete return required)
  • Number of years you have owned the business
  • Information on your current business deposit & loan accounts (if not with Webster Bank, N.A.)

For the owner(s):

  • Name, Address and Phone Number
  • Social Security Number & Date of Birth
  • Percentage of ownership
  • Personal income and financial information
What do I need to apply for an SBA Financing Solution?

To complete the application, you’ll need to provide general information about your business and personal information about each owner, including the following:

For the business:

  • Tax Identification Number (TIN)
  • Most Recent Federal Business Tax Return (complete return required)
  • Number of years you have owned the business
  • Information on your current business deposit & loan accounts (if not with Webster Bank, N.A.)

For the owner(s):

  • Name, Address and Phone Number
  • Social Security Number & Date of Birth
  • Percentage of ownership
  • Personal income and financial information
What is a term loan?

A term loan is a lump sum you borrow and repay in regular payments over a set period of time.

What is an SBA Financing Solution?

The SBA, or Small Business Administration, has financing solutions designed for business owners who have needs beyond conventional loans. Webster Bank works with the SBA as a Preferred Lender to help you access these programs and get the support and cash flow that your business needs. Work with a Webster SBA Financing Specialist today to find lending terms that work for you.

What types of checks can I deposit?

You can deposit any check drawn on a US bank with a valid Routing and Transit Number, including money orders, credit card checks and postal money orders. Foreign checks cannot be processed using this service.