Why is online banking important for business?
Online banking is a convenient way to manage your finances from any location with an internet connection. With online banking, you can check your account balance, pay bills, transfer funds, and more – all from the comfort of your own home. It’s a great way to stay on top of your finances and make the most of your money.
Online banking is an important tool for startups, as it allows them to easily manage their finances and make sure their money is being handled efficiently. With the right online banking system, startups can securely store and transfer funds, track their spending, and quickly receive payments from customers. It also provides access to the latest banking products, such as loans and credit cards, which can help businesses grow.
In addition, online banking is much more convenient than traditional banking, allowing startups to access their accounts from anywhere at any time. With online banking, startups can focus on their core business and put their financials in the hands of a trusted partner.
Experience of opening a company bank account without an office visit
First step. User information
As soon as CEO Olga Naida received her Emirati ID, she applied to Wio Bank. It is the only bank in the UAE that is fully online.
It was very easy to apply to the bank account except for a couple of steps when I mistyped the company’s phone number and had to close the application and start from scratch.
Another step was that I had to log in every time I opened the app to check the application which was very annoying.
Difficulties: application uncertainty
When Olga was applying for the service, the application asked for Olga’s personal details and for address. So she entered her personal address to confirm residence and as result, it has to be the company’s address in the application. That part of the interface was not very obvious and caused extra steps for fixing.
Second step. Call from the bank
Glocal applied for online banking and received a call from the bank manager the very next day! It was so unexpected and so refreshing to receive such prompt attention. The bank manager was eager to discuss our application and how to improve the overall service. We were able to provide user feedback and discuss ways to make the online banking experience even better.
We look forward to continuing to work together to make banking easier, more efficient, and more enjoyable for everyone. This experience has been a great reminder of why we do what we do here at Glocal: to provide our customers with the best possible service. We are so thankful for the attention and enthusiasm of our bank manager, and we are looking forward to continuing to collaborate with them to make banking better for everyone.
Third step. Application reviewed
This was an online process that could be completed over the weekend, and it was made even easier thanks to Wio’s ability to connect Stripe and let us make invoices before the card was even delivered.
Opening a business bank account is a complex process and can often take weeks or even months. However, Wio’s streamlined process and helpful customer service representatives made it incredibly quick and simple for us at Glocal.
We were able to set up our business bank account and start using it in just three days. This is a huge milestone for us here at Glocal, and we are thrilled with how quickly and smoothly things went. We want to thank the Wio team for all of their help and for making our transition to a business bank account a breeze.
Forth Step. Card Delivery
We at Glocal are proud to announce that our Wio bank card has been delivered to customers in a record-breaking 3 working days after Glocal applied for the account! This speed of delivery is incredibly important for startups, as it helps them to access the funds they need to get up and running quickly.
From the design of the card to the delivery timeline, we wanted to make sure everything was as efficient as possible for our customers. We are especially excited about the design of the card case, which features a deep blue color with a premium finish. We hope that our Wio bank card will make it easier for startups to get the funds they need to succeed.
Outcomes about startup’s user experience with Wio Bank
Overall, Olga Nayda is very satisfied with using Wio Online banking in UAE. It only took 3 days to get the account up and running, and all the process was done in-app. Despite a few unclear scenarios, the user interface was easy to use and the customer service team was available to answer any questions.
Huge thanks to the Wio team for helping the Glocal team become the best SaaS on the market, produced in the UAE with love from in5 Tech.
WIO Bank Community & Culture
A modern bank is not only a convenient account and credit, but also a vibrant community.
This is especially important for immigrants and startup founders, who need to quickly get settled in a new place, find customers, investors, employees and partners.
People trust their banks, and we’ve seen many great examples: Tinkoff.Investments, Community Point, and startups at Mercury Bank. Our Evita team has a wealth of experience in building a community with 1 million monthly active users and $5 CAC.
We look forward to getting to know WIO and building the most vibrant and useful business community in the Emirates and other Arab countries. Members will not only be able to get an account and credit but also:
– find partners and clients
– get access to bonuses and agency discounts from other members
– increase sales and raise new investment rounds