Corporate Online

Benefits

Corporate Online is a comprehensive online banking service. It has been designed for businesses that may have more complex banking needs; it is especially useful for multiple account banking and International transactions.

Corporate Online** allows you to:

• Access accounts 24/7 so you can take complete control of your day-to-day banking whenever you need to.
• Transfer money between your accounts, putting you in control of your transactions, and enhancing the management of your working capital position.
• Instruct Bacs, multiple Bacs and Faster Payments simply. With the innovative Faster Payments Service you can send payments in near real time, meaning you need never miss a payment again.
• Interact with many back office systems allowing you to import and export account information saving you valuable keystroke time.
• Have full administration and control of your system. This ensures you control who can access the service and allows you to allocate the accounts and permissions to suit your business requirements.
• Add-in extra features for a completely bespoke service. CHAPS*, International Payments* and Foreign Exchange with live rates* are just some of the options available.
• Obtain an audit report for all Users to ensure full visibility of activity on your system.
• Send an email to those required to authorise payments ensuring cut off times for payments are never missed again.

* Chargeable services.

** No monthly service charge. Does not include transaction charges or charges for security cards and tokens. A range of chargeable options are available.

Extra Features

Corporate Online is a comprehensive banking service. And, thanks to a wide range of additional services, it can also be a highly flexible one. These chargeable options expand the financial capabilities of your business in a number of important ways. These include:

• CHAPS payments – Funds can be sent within minutes to your chosen beneficiaries. With later cut-off times and cheaper transacting online you could make significant savings.
• Foreign Exchange – Monitor and deal with real time live rates which will enable you to manage your cash flow and ensure accurate budgeting.
• International Payments – With live rates, you can check the exact rate before you transact. You will also have reduced online charges and later cut off times (Euro 2:45pm, US$ 5pm).

You can choose to add any one of these extra features at £25 per service. Or you can choose the Corporate Online Full Service and add them all, for a total monthly service charge of £50 (excluding transaction charges). We'll be happy to offer advice on the services that will suit your business best, the services that could save you significant time and money.

Calculate the Savings

Corporate Online can save you money. How much? Find out here.

Customer View

Quick, easy to use and highly efficient, Corporate Online gives you the flexibility to manage your business as you want – with complete peace of mind. But don’t just take our word for it, see what our customers have to say.

Will Gold, Murray International Holdings

“Trust. That’s the key thing in our banking relationship,” says Will Gold, Group Finance Director of the £650m turnover Murray International Holdings. “You have to trust that they truly understand your business and will provide services that are tailored to be useful to you. That’s what we get from Bank of Scotland Corporate.”

Murray International Holdings is a privately-owned, widely diverse conglomerate with interests in metals, property and communications amongst others. A decades-long customer of Bank of Scotland, the Group calls on the Bank’s expertise for “any activity we’re involved in,” says Will. “And that’s simply because of the level of day-to-day service we get”.

The group employs some 3,500 people worldwide and is a big user of Bank of Scotland’s electronic system to make and receive payments.

Using transactional facilities across such a wide variety of businesses isn’t as complicated as it might at first seem, says Will. “The online payments system is extremely flexible and easy to use. And it gives me an entire group-wide overview of our cashflow, which I find it hugely useful.

“As for our sector diversity, that’s never been an issue. The reason for making the payments may differ from business to business, but the system’s set up so that the same processes apply across all activities.”

And the operational benefits reach beyond the UK domestic arena, he explains. “We were able to extend the online facility so that we can view the balances of our Singapore subsidiary, and initiate transfer payments if we need to.”

Eager to boost use of the payments system across the group, Will suggested a workshop for all his senior finance colleagues. “We got an excellent response from Bank of Scotland,” he recalls. “They fielded a team with a range of specialist skills to come in and share their knowledge. It greatly increased our usage of online banking. It’s so helpful to have that support resource to draw on – it certainly made my life a lot easier!”

The fluidity of the online system means Will is confident to offer suggestions about tweaking it to fit the Group's specific needs. And that feedback, he says, is “always understood in detail and gratefully received”.

It works the other way, too. Relationship Manager Kevin Shakespeare is “always very proactive and forward-looking,” Will explains. “He was very keen, for instance, to make sure we were set up to use the Bank’s new faster payments system. And he’s examining how we could use the advanced BACS clearance reports across the group.

“Every time I speak to him, it’s obvious he’s been wondering about what he can do to help us operate more effectively and efficiently, or to save on transaction fees.”

The trust built into the relationship has persuaded Murray International Holdings to renew its facility with Bank of Scotland Corporate. Having doubled profits to over £20m last year, the business is optimistic about its strategic opportunities.

“Our diversity is an asset in this business climate,” concludes Will. “If we anticipate a downturn in one sector, we’ll see opportunity in another. It’s what differentiates us from the competition. What sets Bank of Scotland apart is their clear, demonstrable understanding of our business.”

Frequently Asked Questions

• How do I apply for Corporate Online?

  If you are an existing customer please contact your Relationship Manager who will discuss the service with you and arrange to provide the relevant documentation. Alternatively, you can call us on 0845 300 6444†, and we'll explain the application process.

• When is Corporate Online available?

  24 hours a day, 7 days a week.

• How much does the service cost?

  The services that are most appropriate at any time for your business may vary. Corporate Online provides a level of flexibility to allow you to personalise your online service to suit your business needs.

  The Standard service is free and includes:

  • Access to view an unlimited number of accounts and reporting functions.
  • Inter-account funds transfer.
  • Single and multiple Bacs payments.
  • Faster Payments.

  Our Extra Features can be purchased for £25 each per month depending on your requirements. These include: CHAPS payments, Foreign Exchange and International Payments.

  The Full Service is the sum of all our Extra Features for a fee of £50 per month.

  Smartcard readers cost £29.79 plus VAT each, Smartcards, which are valid for 4 years, are £25.53 plus VAT each and RSA SecurID tokens which are valid for 5 years, are £12.77 plus VAT each.

• Is Corporate Online secure?

  We understand how important security is to you and we are committed to providing you with the highest level of security possible. We have joined forces with leading international solution providers to provide an IdenTrust compliant security infrastructure. IdenTrust is a global organisation of approved financial institutions, establishing the identities of their corporate customers and certifying them as trusted trading partners on the Internet. The rigorous controls applied by IdenTrust to operating infrastructures ensure extremely high levels of security in trading over the Internet. Individual users are provided with Smartcards that, in conjunction with a PIN, are used for Login and authorising instructions. This provides a quick and simple, yet highly secure method of access. A secure audit log feature allows your system administrators to monitor who is carrying out what actions.

  Please note that Smartcards can only be delivered within the UK at present. As they are encryption devices they may be subject to import restrictions in other countries.

  We have also worked with RSA Security®, 'the most trusted name in e-security®', to implement RSA SecurID. This features token-based 2 factor security, i.e. something you know, (your username and PIN) and something you have (your RSA SecurID token) with 60 second one time pass-code. As well as strong authentication we have also used 128 BIT 3 DES SSL, multiple firewalls, encrypted databases, physically secure data centres and other security measures that we will not divulge.

  For further information on online security please click here.

• Can I access my accounts from anywhere in the world?

  Because the new service is browser-based, you can access your accounts from anywhere with access to the Internet with your RSAToken. If you wish to access Corporate Online with a Smartcard, the relevant software must be installed on the PC you require access on.

• What browser versions can I use to access Corporate Online?

  The service has been tested and approved for running on a PC with the following versions of Microsoft Internet Explorer:

  • IE 6.0.
  • IE 7.0.

• What operating systems do you recommend?

  For optimum performance we recommend Windows 2000 and Windows XP operating systems.

• Do I need any special software?

  The only special software required by you will be supplied at the point of registration.

† Telephone calls may be recorded for security purposes and monitored under our quality control procedures.