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Business Banking Online FAQs
What do I need to use First Horizon Bank Banking Online for Business?
Banking Online requires:
- A First Horizon Bank account
- Internet access with a 128-bit encrypted browser
Please visit firsthorizon.com/Corporate to enroll today!
Which First Horizon Bank Banking Online for Business services can I use with a Mac?
Mac users can access their accounts online using their First Horizon Bank Business Banking Online username and password credentials.
Can I use First Horizon Bank Banking Online for Business from more than one PC?
Yes! Because Business Banking Online is accessed through the Internet, you can use it from any computer with Internet access with a 256-bit encrypted browser including your mobile device.
Which accounts can I access through First Horizon Bank’s Business Banking Online?
You can view all transactions for your checking, savings, and credit card accounts. You can see balances for the following:
- Checking accounts
- Savings accounts
- Individual Retirement Accounts (IRAs)
- Installment loans
- Credit cards
- Business lines of credit
- Home equity lines of credit
- Brokerage accounts
How current is the Business Banking Online balance information that is provided?
Checking and Savings account available balance, collected balance and transactional information displays real-time activity on your account. The available balance displayed through Business Banking Online includes ATM transactions, funds transfers, point-of-sale and debit transactions completed throughout the day.
Loan and Credit Card information is the closing information from the previous business day.
Can the Entitlements feature specify who has access to account information and reports?
Business Banking Online allows for client’s to customize user access as needed to meet your company’s needs. If a user requires access to only a single account, the administrator for the profile can use the user entitlements to enable or disable access. Treasury Management Technical Support is available to assist with entitlements by calling 800-778-5915.
What if I open a new First Horizon Bank account and want to access it through First Horizon Business Banking Online?
What types of accounts can I transfer funds to and from?
|Account Type||Transfer From||Transfer To|
|Home Equity Lines of Credit||Yes||Yes|
|Home Equity Loans||No||Yes|
|Personal Lines of Credit||Yes||Yes|
When are funds available after they are transferred?
The availability of funds after a transfer depends on two factors: the type of account into which funds are transferred and the time the transfer occurs. Refer to the following table for details.
|Account type into which funds are transferred||Funds transferred Monday through Friday 6:00 AM – 9:00 PM Eastern Time||Funds transferred Monday through Friday 9:00 PM– 6:00 AM, or anytime during the weekend|
| ||Immediate||Immediate for Banking Online transactions. Funds are not available to clear checks until the next business|
| ||Next Business Day||2 Business Days|
What are processing Cut-Off times
|Positive Pay Issued Check Items||7:00pm EST M-F (Note: items received after the cut-off time will be processed the next business day)|
|Positive Pay Exception Decisions||3:00pm EST M-F|
|ACH Originated Items||6:00pm EST M-F (Note: items received after the cut-off time will be processed the next business day)|
|Account Transfers||9:00pm EST M-F (Note: items received after the cut-off time will be processed the next business day)|
|ACH Positive Pay Decisions||3:00pm EST M-F|
|Wires||4:00pm EST M-F for Tax Payments |
5:00pm EST M-F to Purchase currency
5:00pm EST M-F for International Wires
6:00pm EST M-F for Domestic Wires
(Note: items received after the cut-off time will be processed the next business day)
|Bill Payments||9:00pm EST M-F (Note: items received after the cut-off time will be processed the next business day)|
|Prior Day Reporting||8:00am EST M-Saturday|
|ACH Activity Reporting||9:00am EST M-F|
|Loan Reporting||9:00am EST M-F|
|Lockbox Reporting||9:00am, 9:30am, 10:00am, 12:00pm, 3:00pm, and 5:00pm EST M-F|
|Controlled Disbursement||1st Presentment: 8:30am EST and 2nd Presentment: 10:00am EST M-F|
What is an Admin?
The Entitlements feature allows an "Admin" to grant access to selected employees to perform certain Business Banking Online functions. An Admin has unlimited rights and access to all enrolled features and services for your business profile. The Admin may add multiple Admins and multiple users. For instance, one employee (user) may need to handle fund transfers while another employee (user) may only need to view the account or access bill pay. Employees (users) are able to access only those functions assigned to them by an Admin through the use of passwords and other security features.
Is Banking Online for Business secure?
Yes. Each time you log in to Business Banking Online, one secure connection is opened to the bank. This connection is protected using Transport Layer Security (TLS) 1.2, which is a security protocol that prevents eavesdropping, tampering, and message forgery over the Internet. Additional protection is offered to online users in the form of firewall technology. Firewalls monitor all data traffic to and from First Horizon Bank, ensuring that only known users are able to gain access.
What if I forget my User Name or Password?
If you are a Business Banking Online Admin or regular user, you can contact Treasury Management Technical Support at 800-778-5915 to have your password reset after confirming your identity. If you are a regular business user and have not established or setup your security questions, please contact the person with Admin rights in your organization to have your username or password reset.
What bills can I pay through Banking Online for Business?
You can pay practically anyone using First Horizon Bank's Business Banking Online, including U.S. companies and individuals. The only payments not eligible for the service are those for alimony, child support payments, tax payments, and other court-directed or government payments, fines and penalties. First Horizon Bank does not recommend using Bill Pay Online payment services to fund brokerage or investment services.
How quickly are bills paid?
To guarantee on-time payment delivery, you will need to enter the processing date of all of your payments at least five business days before the actual due date.
The due date is the day your payment must be received by the payee, not including your grace period. The scheduled date is the day you want to start the process of sending your money to the payee. (Scheduled dates can only be days the bank is open for business.) The scheduled date is not the day the funds are received at the payee.
Tip: To get a feel for Bill Pay Online, you may want to send an internal (inter-company) payment. You will see what the check looks like and that all of the pertinent information the payee requires is on the check, such as your name, address and account number. Of course, many payments are made electronically.
What can I do to ensure my payments are made on time?
- Before making a payment, verify your payee's address and account information.
- Use the payee name and address shown on your statement or coupon book. If your payee has a separate address for non-standard payments, use that address.
- Allow at least five business days for payment.
- Review your monthly paper statements to ensure your payee's address or account number has not changed.
- Schedule your payments so processing will occur after pending deposits have been credited.
What if a bill is not paid or is late?
If you follow the simple guidelines above, First Horizon Bank guarantees that your payments will be received on time. If you follow the guidelines and your payment was not received or was late, call 800-778-5915. Any late fees up to $50 per occurrence will be refunded. If a payment posts late due to a payee's delay in processing, First Horizon Bank cannot be held responsible for the late fees.
What about stopping a payment?
If your payment was sent electronically or has been cashed by the payee, a stop payment request cannot be processed. Same day bill payment processing begins immediately after you initiate it. Same day bill payments can only be deleted by First Horizon Bank and future dated payments can be modified or deleted until 8pm Central Time on the date the payments are scheduled to be processed. Stop payments can be placed on payments that have already been processed for a fee of $20. Because the initial bill payment request will be sent, it may take up to two business days for funds to be returned to your account. The payee may assess a returned check fee for the stop payment, for which First Horizon Bank will not be responsible.
What is the fee for Bill Pay Online payments?
There is not a fee for Bill Payment Online.
Can I have some payments made automatically?
Sure. It's easy to have recurring payments made automatically. (Recurring payments are those such as your mortgage payment which are the same amount every month and are paid at a set time.) You can schedule recurring payments using the Bill Pay Online option.
How are bill payments processed?
The majority of online bill payments will be processed electronically. However, some payees do not have the appropriate systems to receive electronic payments; therefore, they will receive a paper check. First Horizon Bank's bill payment provider is continually working with payees to establish an electronic relationship.
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