Business Banking FAQs

What’s a line of credit best for? How do I set up online bill pay? Your business banking questions, answered.

General Business Banking FAQs

What does the term “Online Cash Management Services” mean?

The term “Cash Management Services” includes a variety of Bank products and services that help a business effectively manage their cash. Many of these services are offered online, which makes it easy for the business to access their information. Functions available with our Online Cash Management Service include direct deposit, electronic payments, wire transfers, and electronic collections. Examples of uses include:

  • A business offering its employees direct deposit as an added benefit.
  • A landlord extending a discount to tenants that pay their rent electronically.
  • Nonprofit organizations providing people the ability to donate electronically.

In each case, the business saves time and money by being able to manage their flow of funds more efficiently. For more information, please contact our business banking team.

Information security: How can I protect my business?

For small business owners, it seems there aren’t enough hours in the day. However, there is one area in particular that’s often overlooked but requires your undivided attention – information security. Here are a few ways you can protect your employees, customers and company data.

  1. Secure your computers and servers. Off-the-shelf anti-virus and anti-spyware solutions will provide basic protection, but you may need more sophisticated solutions for complex networks.
  2. Educate your staff. Opening emails or attachments from unknown sources may expose your systems to viruses, malware and spyware.
  3. Beware of social engineering. Strangers who appear to be a vendor or delivery person may be cyber thieves attempting to gain access to confidential data from servers, desktop computers or paper files.
  4. Have a plan. In the unfortunate event of a data breach, know what to do, who to call and what might be your potential liability.
  5. Consider Insurance: Paquin & Carroll Insurance is now offering a Cyber Liability Policy and can develop a tailored program to protect your business from financial harm.

What is a line of credit and what is it used for?

A line of credit is a useful tool for a small business to level cash flow during times when cash is needed to support growth. Lines support short-term assets and are generally secured by accounts receivable, inventory and equipment. Small businesses have different cash needs. A contractor uses a line to fund materials for specific jobs. A retail shop uses a line to fund inventory purchases. A seasonal business uses a line to operate the business during times when revenue is slack. A properly used line will provide a temporary source of cash until short-term assets are converted into cash, which in turn pays down the line for future use. Lines should not be used to purchase long-term or fixed assets. Not all businesses need lines of credit. For more information about whether a line of credit is right for you, please contact our commercial banking team.

What is an SBA 504 business loan?

The SBA 504 loan program works with local banks to provide up to 90% long-term financing for small businesses. 504 loans can be used to finance capital projects such as construction or purchase of a new building, renovation or expansion of an existing building, or purchase of equipment with a useful life of at least 10 years. The SBA 504 loan program allows a growing business to conserve cash for working capital needs. For example, you decide to add a new addition to your building because you need more space. The addition will cost $400,000 to complete. Using an SBA 504 loan, the Bank will provide up to 50% long-term financing, a Certified Development Company (CDC) will provide up to 40% long-term, fixed-rate financing, and the borrower must provide at least 10% cash equity. Fees and closing costs can be financed into the CDC loan. For more information about the SBA 504 loan program, please contact our commercial banking team.

Business Online Banking FAQs

I don’t see all of my business accounts listed. How do I add an account to my profile? I’ve added an account, but my users can’t view or make transfers – why?

Business accounts are not automatically added to Business Online Banking profiles unless requested. To add an account to a business profile, please contact Customer Care at 207-284-4591 or toll free at 1-877-722-6243 or visit one of our locations. Once an account is added, you’ll want to set the user’s permissions. Please refer to the next question(s) addressing User Permissions for additional guidance.

How do I enroll in Business Online Banking?

You can enroll in Business Online Banking by visiting any of our branch locations. We understand that each business is unique, and a customer service representative will discuss which services fit your individual business needs.

Why are my users unable to perform transactions? How do I set up my user permissions?

As a company admin for Business Online Banking, you’re responsible for adding users and setting the permissions, restrictions and monetary limits for the users of the business. A business user will have the ability to log in but will not have access to any accounts until their permissions are set up. The company admin can set up the user’s permissions by selecting the “Manage Users” link under the “Administration” tab and clicking on the User ID for which they want to set permissions. Once you select the permissions and save the changes, the user will have access to the appropriate accounts.

What is a “cookie”?

Cookies are small text files installed on a hard drive by various web servers as users browse the internet. They’re used to help identify a user when they return to a previously visited website.

Why am I receiving a security question I never answered/selected?

If the system is issuing you a question you have not previously selected, you are entering an incorrect Company ID or Login ID. If you have forgotten your Company ID or Login ID, please call Customer Care for further assistance at 207-284-4591 or toll free at 1-877-722-6243.

What does “your account is dormant” mean?

As part of Saco & Biddeford Savings online security, any Business Online Banking account that has not been accessed recently is locked. To unlock this account, please call a member of Customer Care at 207-284-4591 or toll free at 1-877-722-6243.

I’ve forgotten my company ID or login ID. What should I do?

If you do not know your Company ID or Login ID, please contact Customer Care for assistance at 207-284-4591 or toll free at 1-877-722-6243, or by email at

How do I get started using online bill pay?

To enroll in Bill Pay, go to the “Transfers and Payments” tab, select “Pay Bills,” then complete the enrollment steps to enable Bill Pay. If you’d like assistance with this process, please contact Customer Care at 207-284-4591 or toll free at 1-877-722-6243, or by using our Contact Us form. Please note that funds will not be removed from your account until payment has been received and deposited by the payee.

I’m trying to transfer money from my commercial line of credit. Why am I receiving an error message?

At this time, commercial lines of credit are View & Deposit only for Business Online Banking customers. Therefore, you’re not allowed to transfer funds from this type of account. To discuss other options, please contact us at 207-284-4591 or toll free at 1-877-722-6243.

Can I receive my statements electronically?

Yes. If you wish to enroll in eStatements, you can do so when logged into your online banking profile. Navigate to the “Reports” tab and choose the “View eStatements” link. You’ll need to complete the requested information. If you’d like assistance with this process, please contact Customer Care at 207-284-4591 or toll free at 1-877-722-6243, or by email at

Business Mobile Banking FAQs

What are some of the features of Business Mobile Banking?

Business Mobile Banking will allow users to perform the following functions:

  • View account balance and history information
  • Transfer between eligible internal accounts
  • Deposit single checks electronically
  • Find branch and ATM locations
  • Approve transactions awaiting authorization

In addition, users can now submit bill payments and add new payees if they’ve been entitled to do so by the company admin.

What do I need to log in to my Business Mobile Banking app?

You’ll use the exact same login credentials that you use to login to Business Online Banking, which include your Company ID, Login ID, and password. In addition, you may need to authenticate yourself further with a one-time passcode sent to your phone.

What should I do if I can’t log into Business Mobile Banking?

Users should first verify that they’ve entered the correct Company ID, Login ID, and password, and if necessary, authenticate themselves further with a one-time passcode. If they’re unsure about any of their login information, they should verify it with their company admin. The company admin can contact our Customer Care Department at 207-284-4591 for further verification if necessary.

How do I obtain the Mobile Banking app for my business?

First, the company admin must enable Mobile Banking access for the other employees. Users can download the SBSI business mobile app from the appropriate app store for their device. Please note that business customers must download a completely separate app from personal customers in the app stores.