Business Internet Banking FAQs

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A free, convenient, and secure way for you and your designated staff to access your accounts.

  • To enroll in Business Internet Banking, we must first have a completed Business/Organization Resolution of Authority form on file dated 4/1/10 or after. You can return this form by fax to 845.463.1646, by mail, or in person at any branch.
  • Once we receive your form, HVFCU staff will provide you Business Internet Banking access along with a temporary password. Use the temporary password to sign-on to Business Internet Banking and enroll in Multi-factor Authentication (MFA). You can enroll in MFA here or through the “MFA Enrollment” link in the Online Access area of our homepage.

Please note: Additional help about specific Business Internet Banking functions can be viewed once you sign-on to Business Internet Banking.

Enrolling & Getting Started

How do I enroll in Business Internet Banking?

  • In order to enroll in Business Internet Banking, we must have a completed Business/Organization Resolution of Authority form. on file dated 4/1/10 or after. Once that is received, we will grant you Business Internet Banking access.
  • Return the above form by fax to 845.463.1646, by mail, or in person at any branch.
  • Once we receive your resolution, HVFCU staff will provide you Business Internet Banking access along with a temporary password. Use the temporary password to sign-on to Business Internet Banking and enroll in Multi-factor Authentication (MFA). MFA enrollment involves these steps:
    • Choosing security questions and answers (preselected or ones you create)
    • Creating a Security Key
    • Registering a computer (optional)
    • Creating a business user id

To learn more about MFA, please review the applicable questions below along with our MFA Demo.

Additionally, once a you are given Business Internet Banking access and enroll in MFA, you can also assign access to other individuals in your organization.

Can more than one employee in a business / organization access Business Internet Banking?

Business Internet Banking access can be set up for multiple individuals within an organization. You can set up and remove access for your staff as needed through the “User Administration” menu under “Options”. When setting up an employee’s access, you will create a business user id, which then gives you the ability to select what features and functionality within Business Internet Banking your employees can use. You can provide them full access to all features, or allow them select functionality, for example, allowing them to only make transfers, wire transfers, etc.

Additionally, the individuals you provide access to will also need to know the answers to your security questions (see MFA information below). If individuals leave your organization, you may consider updating your security questions, along with changing your Business Internet Banking passwords.

It is also important to note that the main administrator for a business needs to assign the administrator role to himself / herself by checking off the “Administration” box on the “User Administration” page (accessible from the “Options” menu).

Are there any special requirements to use Business Internet Banking?

A computer (MAC or PC) that can access the internet and browse the web has the basic capabilities for using Business Internet Banking and Multi-factor Authentication (learn more about Multi-factor Authentication below).

For browsers, the following versions are acceptable:

Internet Explorer – 4.0 and higher
Netscape Navigator- 4.0 and higher
Firefox – All versions
AOL – 4.0 and higher
Safari – 1.0 and higher
Opera – 3.62 and higher for PC and 5.0 and higher for MAC
iCab – 2.9.8 and higher

Can Business Internet Banking be used with an iPhone?

Business Internet Banking can be accessed with an iPhone.

When can I use Business Internet Banking?

Business Internet Banking is available 24 hours a day, 7 days a week. On occasion it may be temporarily unavailable due to routine maintenance (generally from 10 pm – 10:30 pm EST).

Can I access my personal accounts and my business accounts through one sign-on?

Personal and business accounts cannot be accessed through a single sign-on. You must sign-on to the respective Business Internet Banking systems to view your personal or business accounts.

Please note, if you are a sole proprietor, only business accounts are accessible within Business Internet Banking. For example, if you use a regular S9 account for transactions, that account cannot be viewed within the Business Internet Banking system.

How secure is Business Internet Banking?

Business Internet Banking is very secure. Please refer to our Privacy Policy for a detailed explanation to this question. You may also refer to the Verisign seal, found on any page, for security verification.

Additionally, you have the ability to restrict Business Internet Banking access to certain locations. For example, if you only wanted to allow access while within New York State, you could do so. To restrict your access by location, select “Sign On Restrictions” from the “Options” menu.

Multi-factor Authentication (MFA), Password Resets, & Other Access Questions

What is Multi-factor Authentication?

MFA is a sign-on process that enhances the security of your Business Internet Banking session. MFA enhances the security of your Business Internet Banking access through the use of security codes, questions, and images that protect your online access from computer hackers and identity thieves. With MFA, your secure Business Internet Banking sessions have extra layers of protection.

What is the Verify Code that displays at the Business Internet Banking sign-on?

The Verify Code is an extra security measure used to prevent hackers from randomly selecting account numbers. Please note that when entering the Verify Code, entries are case sensitive.

What is the Security Key that displays during the sign-on process?

Your Security Key is used to help you identify Business Internet Banking as a legitimate site. The text word you selected during Business Internet Banking enrollment is converted to an image. When you sign-on to Business Internet Banking you see the Security Key image with a watermark logo behind it. This gives you reassurance that you are using HVFCU’s Business Internet Banking service and not a website that looks like HVFCU’s site.

You can change your Security Key at any time by selecting “Member Info” from the “Options” menu within Business Internet Banking.

What is the purpose of the security questions I created / answer?

The security questions provide an added level of protection when accessing Business Internet Banking from computers that are not registered through Multi-factor Authentication. Please note that the answers to your security questions are case sensitive.

You can change your security questions and answers at any time by selecting “Authentication Questions” from the “Options” menu within Business Internet Banking.

Do all employees in a business use the same security questions when signing on to Business Internet Banking?

All employees in a business do use the same security questions when signing on to Business Internet Banking. If individuals leave your business, you may consider updating the security questions, along with changing Business Internet Banking passwords.

What does it mean to remember a computer?

When you remember a computer, it is linked to the unique business signing-on to Business Internet Banking from that computer. When you remember a computer, the randomly generated security questions that you previously set up are not presented during sign-on. In essence, the security afforded by the security questions has been replaced by the link associated with your specific computer.

Please note that public computers, computers that are used by many individuals, or computers that are not your own should not be registered. Additionally, it is recommended that multiple Business Internet Banking users within a company should not register their computer.

Is a business user id required?

A business user id is required and allows you to set up Business Internet Banking access for multiple individuals within your organization. Once business user ids are created, you can then restrict user access to certain functionality and features within Business Internet Banking.

Once enrolled, how do I update my Multi-factor Authentication security information?

You can change your security questions and password from the “Options” menu within Business Internet Banking.

What information will Multi-factor Authentication never ask for?

Multi-factor Authentication will never ask for credit card numbers, Visa Check Card / ATM card numbers, ATM PINs, tax ID numbers, or Social Security Numbers.

When I try to sign-on to Business Internet Banking I get an error message. Why?

Please check that you have entered your member number correctly in the member number field, and have entered your password correctly in the password field. It is also possible that you entered a Verify Code incorrectly or answered one of your security questions incorrectly. If you believe that you are entering all required information correctly, it could be that your Business Internet Banking account is locked. To protect your security, there are two situations where your account access can become locked:

  • If you have had three consecutive, unsuccessful sign-on attempts in one session.
  • If you have not used Business Internet Banking for over 60 days.

If you are locked out, your password will need to be reset in order for you to access Business Internet Banking again. To have your password reset, you may stop into any branch or you can call our Contact Center at 845.463.3011, Monday – Friday, from 8 am – 7 pm EST and Saturday from 9 am – 5 pm EST.

What do I do if I forget my Business Internet Banking password or the answers to my security questions?

If you forget your password or the answers to your security questions, you may stop into any branch or you can call our Contact Center at 845.463.3011, Monday – Friday, from 8 am – 7 pm EST and Saturday from 9 am – 5 pm EST. Password resets are only granted for the account administrator of a business.

What restrictions apply when changing passwords?

You may change your password any time you choose by selecting the “Change Password” option from the “Options” menu within Business Internet Banking. Passwords can be any combination of letters and numbers, must be between 4-10 characters, and may start with a zero. Letters in your password are also case sensitive. Therefore, they need to be uppercase or lowercase, depending on what you used when you changed your password.

Is there a time limit on how long I can access Business Internet Banking in a given session?

There is no time limit in a given session, however, to protect your accounts, Business Internet Banking does have a timeout setting. You can select 15 minutes, five minutes, or one minute for your session timeout. To change your timeout settings, select “Member Info” from the “Options” menu.

What happens if my computer crashes or Business Internet Banking goes down while conducting a transaction?

In most cases, your transaction will go through, but if you have any doubts about how the interruption affected your account status, sign-on to Business Internet Banking again and check your accounts. If you are still unsure after that, please use the secure messaging feature within Business Internet Banking to contact us. You can also contact our Contact Center at 845.463.3011.

Should I take special precautions to ensure security on my computer?

When you have completed an Business Internet Banking session, be sure to click “Logout” from the menu at the top of the page. For added security, close your internet browser after using Business Internet Banking. This helps prevent information stored in your browser from being displayed when the “Back” button is used. These measures are particularly important when accessing Business Internet Banking from a public or shared computer. In addition, to prevent unauthorized users from accessing your accounts, you are automatically logged out of Business Internet Banking after one, five or 15 minutes of inactivity, depending on the time limit you designate.

Account Questions

How much transaction history is available for my accounts?

The “Balances” page displays the last 93 days of your transaction history or 64 lines of transaction details, whichever is reached first. Further history, beyond what is displayed on the “Balances” page, can be viewed through the “History” menu.

How current are my balances and transaction activities?

Balance and transaction information is presented in real time, meaning the balances on your accounts are updated when you conduct transactions.

Are there limits to the number of transactions I can conduct in a month?

There are no limitations specific to Business Internet Banking. However, some products and services have limitations and terms. Please review your individual product disclosures for specific details.

Some accounts are also subject to Regulation D. Transactions performed on money market and savings accounts will be monitored in compliance with the “Reserve Requirements for Depository Institutions,” as required by the Federal Reserve Banking System. There is a maximum number of transactions you will be allowed to perform on money market and savings accounts during a calendar month, and if, when transferring funds, you receive the message, “This account only allows 6 debits of this type per month,” it means you have already reached the maximum number of transactions allowed for the month. The transaction is not processed, and you will need to transfer the funds through another means (ATM, branch, etc.) other than through Business Internet Banking.

For more information, refer to the complete description of this regulation in the Truth-in-Savings Standard Disclosure & Account Agreements disclosure you previously received upon opening your account(s) with HVFCU.

Are there any accounts that are not accessible through Business Internet Banking?

All business share and loan accounts are accessible within Business Internet Banking. Credit card account information can be accessed by clicking the “Visa Statement” option from the “Accounts” menu.

Are there limits regarding the transactions that can be performed within Business Internet Banking?

The following limits apply to transactions performed within Business Internet Banking:

  • Transfer Limits
    • $250,000 limit per transaction
    • $250,000 limit per day
    • $1,000,000 limit per month

For your reference, Business Internet Banking displays your daily limit along with your 30-day rolling limit.

  • Wire Transfers
    • $250,000 limit per day

For your reference, Business Internet Banking displays your daily limit along with your 30-day rolling limit.

Please note you may only perform domestic wire transfers through Business Internet Banking. For international wire transfers, please go to a branch or contact our Contact Center at 845.463.3011.

  • ACH Transactions
    • $250,000 limit per day
    • $1,000,000 limit per month

For your reference, Business Internet Banking displays your daily limit along with your 30-day rolling limit.

Please note that ACH transactions have a four business day delay.

How are transferred payments applied to my credit card?

Payments are applied to your account the same day they are made when transferred by 3 pm EST, Monday through Friday or by 1:30 pm EST on Saturday. Payments can’t be transferred through the eZCardInfo website.

Can transfers be made to the personal accounts or business accounts of other credit union members?

You can transfer funds from your business accounts to the personal accounts or business accounts of other credit union members. To do so, select the “Member to Member Transfer” option from the “Funds Transfer” menu.

Can transfers be made to accounts at other financial institutions?

Business Internet Banking does permit you to transfer funds to accounts at other financial institutions (i.e. account to account transfers). You can transfer funds to other institutions via wire transfer or automated clearing house (ACH) batch service. Wire transfers generally arrive at another institution within 24 hours. The ACH batch service allows you to transfer funds to other institutions (i.e. payroll) or withdraw funds from other institutions (i.e. customer payment collection).

In order to do transfers to other financial institutions, you need to set up an account through the account verification process. Follow the new account set up steps by selecting the “Account to Account Transfer” option under the “Funds Transfer” menu.

What happens if I don’t have enough money in my account to cover a transfer or payment?

If you have insufficient funds, the transaction will not be processed, unless you have overdraft protection.

Can principal only payments be made to loans within Business Internet Banking?

Principal only loan payments cannot be performed within Business Internet Banking at this time.

When setting up an ACH Account, what do PPD and CCD stand for under ACH Type?

  • PPD: This code is used for transactions that affect natural persons (not businesses). There must be a signed authorization by the person who owns the account being affected.
  • CCD: This code is used for transactions that affect businesses. There must be a signed authorization by an authorized representative of the business.

How do I set up account sweeps?

You can set up a sweep to transfer funds to an account when the balance of your account is greater than or less than a predetermined target amount. To do so, select the “Account Sweeps” option from the “Accounts” menu.

What is the calendar feature?

The calendar feature allows you to view your account activity in calendar format, including deposit and loan activity, cleared checks, bill pay transactions, scheduled transfers, and other daily reminders like account alerts.

What does it mean to hide an account?

If you hide an account, then details about that account are not accessible throughout the Business Internet Banking pages. Additionally, you are not able to perform transactions on hidden accounts.

General Questions

Is there a cost to use Business Internet Banking?

There is no cost to use Business Internet Banking or eStatements. Value Business Checking customers pay a $5.95 monthly fee for unlimited transactions to use Bill Pay, while Enhanced Business Checking customers pay no monthly fee. In addition, regular banking product and service fees apply, such as check reorders, copies of checks, etc. Refer to our fee schedule for a list of applicable fees.

Note: Bill Pay and eStatements are separate services that require additional enrollment (which is done through Business Internet Banking), even though they are accessible through Business Internet Banking.

Can I download my business account information to personal finance management software such as Quicken or Microsoft Money?

Can I download my business account information to personal financial management software such as Quicken or Microsoft Money?

You can download your account information into Quicken, Microsoft Money, Excel, or as a comma separated file. Additionally, if you are enrolled in Bill Pay, you may also download your payment history into Quicken.

Can I pay my bills online through Business Internet Banking?

If you enroll in HVFCU Bill Pay, you can make payments through the “Bill Pay” option in Business Internet Banking. You must have a business checking account with HVFCU in order to take advantage of Bill Pay. Please note, however, that Business Internet Banking users are not automatically enrolled for this service. You must enroll for Bill Pay separately. To enroll, select the “Bill Pay” option at the top of the page and select the checking account you’ll use to pay your bills. Value Business Checking customers pay a $5.95 monthly fee for unlimited transaction, while Enhanced Business Checking customers pay no monthly fee to use Bill Pay.

Please note: You must have a valid email address in order to use Bill Pay.

You can learn more about Bill Pay by reading our Bill Pay FAQs.

Can I pay my bills online if I am not currently an Business Internet Banking user?

Since HVFCU Bill Pay is accessed through Business Internet Banking, you must be an Business Internet Banking user in order to pay your bills online.

Can I receive my statements electronically?

You can view your eStatements from the “Accounts” menu within Business Internet Baking. eStatements is a free service that has the following benefits:

  • eStatements are faster than standard paper statements, so you will receive your eStatement 2-3 days earlier than regular mail.
  • Access to eStatements is secure.
  • eStatements are presented in both HTML and PDF formats, allowing for viewing, printing, and downloading.

Please note, to use eStatements you need an internet browser that supports 128-bit encryption (Microsoft Internet Explorer 5.5 or higher and AOL 5.0 or higher). Netscape Navigator is not compatible with eStatements.

Can I keep track of my account activity with account alerts?

Account alerts are available to help you keep track of your account activity. You can set up the following alerts:

  • Share Account Alert
  • Loan Account Alert
  • Transaction Alert
  • Check Status Alert
  • Check Status by Range Alert
  • Checks Cleared Out of Sequence Alert
  • Certificate Maturing Alert
  • Event Alerts
    • Secure messages
    • Account lockout
    • Sign on attempts outside defined areas
    • Wire transfers
    • ACH origination
    • Account to account transfers
    • Email address changes
  • Other Reminders

What is the secure messaging feature?

The secure messaging feature within Business Internet Banking allows you to communicate securely with representatives in our Contact Center. When you sign on to Business Internet Banking you will see reply messages from our staff.

How can I update my email address with the credit union?

You may change your email address through the “Member Info” option from the under “Options” menu. If you use Bill Pay, your email address must be updated separately online from within the service. Replies to messages sent through secure messaging can only be viewed within Business Internet Banking. Replies will not go to your regular email address.

    © 2014 Hudson Valley Federal Credit Union

    159 Barnegat Rd. Poughkeepsie, NY 12601
    ph: 845.463.3011 / 800.468.3011

    Routing Number : 221979363