Will I need to reconnect my account to services like QuickBooks or Venmo?
If your accounts are linked to a third-party service such as QuickBooks or Venmo using your online banking login, you will need to re-establish the connection after creating a new password for your online banking login. If your account is linked to a third party via your accounts and routing number it will remain connected, and no action is required.
If you are using Quickbooks or Quicken please refer to these PDF guides for instructions on reconnecting your account.
If your account is linked to a service like Venmo or Cashapp you will need to remove your account and re-connect it.
What changes are there to Positive Pay?
Positive Pay will be receiving several improvements. Positive Pay will now compare the payee’s name on a check to your entries, preventing altered checks from clearing. Additionally, Positive Pay will now support dual control for check exception approval. Positive Pay will also be able to accept Excel spreadsheets as an import file option. Your existing import file formats will be compatible with the new system. Customer Service Representatives will be able to view your issued checks and will not need to call to verify a check that has been entered.
What changes are there to Commercial Remote Check Deposit?
The Commercial Remote Check Deposit system will be replaced. If you are a Commercial Remote Check Deposit customer we will be contacting you to assist with the transition to the new system. This will involve installing new software on your check scanning computers. We are excited and expect you to find the new Commercial Remote Check Deposit system to be more user friendly.
What changes are there to ACH or Wire Transfers?
While the menu to submit ACH or Wire Transfers will look different, there are no substantial changes to these services. Your Wire Transfer and ACH templates will be retained and available for use in the new system.
What changes are there to company user administration?
If a user is attached to only one company, that user must have its access set by a company administrator within online banking. If a user can view the accounts of more than one company, that user must have its access set by completing cash management forms and submitting them to your branch.
What will happen to my debit card controls?
Card controls will be available in our new digital banking services beginning Tuesday, October 29, 2024. Your existing card controls will be disabled on Thursday, October 17, 2024. When our new card controls become available you will be able to re-enable controls within the Redwood Capital Bank Mobile app. New controls will be available, such as the ability to block charges from a specified merchant or setting a daily spending limit.