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Internet access to business solutions

A comprehensive internet-based solution that provides advanced technology solutions and current account information at the click of a mouse. Business Smart Online is completely customizable to each business's needs and process. A modular approach to the system allows each business to "build" its own solution, thereby increasing efficiencies and reducing risk. Our clients can choose from the following modules, all of which are further customizable at the user level.

ACH is a convenient and secure method for paying and receiving monies. The following types of transactions can be initiated using Business Smart Online ACH Module:

Direct Deposit Payroll – Enables businesses to originate ACH credit transactions to pay employees electronically. The benefits of direct deposit payroll are many, the largest of which is there are no checks to be lost or stolen. In addition, employees do not have to go to their bank to cash or deposit their check, which can often eat up their break time and encroach into business time as well. Check stock expense is reduced and efficiencies are gained by eliminating the time it takes to print and sign checks.
Electronic Federal Tax Payment System – Enables businesses to pay their Federal tax payments online. Shortly, the federal government will require all business to process their federal tax payments electronically. The EFTPS product meets the requirements of this mandate.
State Taxes – Allows businesses to pay state taxes for any state electronically through Internet access via ACH.
Vendor Credits and Debits – This solution offers businesses the opportunity to make payments to other cormpanies for services rendered or monies owed. It is like much like Direct Deposit, but rather than depositing funds into an consumer's account, these transactions are deposited into the accounts of vendors or manufacturers. Like Direct Deposit, Vendor Debits and Credits saves you a considerable amount of time and money by reducing the variable workload and expense associated with mailing checks.
Consumer Credits and Debits – A convenient application used by businesses that routinely collect monthly bills from their clientele. Using this service has many benefits including:
- Quicker collection of outstanding debts
- Reduced collection cost
- Quicker funds availability
- Increased customer retention
- Reduced risk of fraud

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Magic Valley Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction and some NOW accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

The temporary increase in FDIC insurance from $100,000 to $250,000 has been made permanent as a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law on July 21, 2010. If your deposit accounts exceed that amount, contact your banker for assistance.

Internet access to business solutions

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