Online business banking is changing
Faster and simpler online banking due to new developments
New possibilities in your payment environment
While you are doing business as usual, we are adding new functions behind the scenes to make online banking faster and simpler. For instance, we are replacing the Random Reader, (USB) card reader and smartcard with the Rabo Scanner and the Rabo OnlineKey. This will enable you to log in from any device without extra software being required. This offers not just great convenience but also greater control to users. You log in via a single portal, Rabo Corporate Connect, which you can tailor to your requirements. The portal also gives you access to Rabobank’s research reports. We will be adding more new services to this portal shortly.
Watch the video on the new possibilities at Youtube.com
Replacement of Rabo Cash Management
To be able to grow in step with your requirements, we are replacing Rabo Cash Management with a future-proof system: the updated Rabo Internet Banking Professional. You will get more options to customise this new environment for online business banking yourself in line with your requirements, choosing from a wide range of functions and authorisation options.
Read more about Rabo Internet Banking Professional and the new features
New module for Authorisations
The new environment will provide you with access to a new module for Authorisations, giving you full control of the authorisation structure. You will be able to put in place a detailed segregation of duties online yourself, set limits per user and per account, assign the administration of the agreement to several persons and set multiple authorisations. The procedures for authorising users and signing orders are different from those you are used to in Rabo Cash Management. The main changes are set out below:
- You can view, set and change authorisations for users yourself.
- There are three different user roles, with divergent options; the owner, the administrator and the functionary.
- Authorisations are set per account, up to a maximum amount that can be set per user.
- The order of signing is fixed: users who can only place a first signature duly have to sign first.
- The first signature is placed per file. A second signature, if any, is placed per batch.
- It is possible to download a comprehensive overview of the settings for the agreement, accounts and users’ authorisations.
The existing authorisations in Rabo Cash Management will be automatically transferred for you. A Rabobank advisor will take you through what the consequences of the other changes will be for you.
Towards a future-proof system
We will support you in the transition from Rabo Cash Management to the new environment for online business banking. Your Rabobank will contact you on time to plan the transition with you. We will transfer your Rabo Cash Management Agreement to the new environment for you. This transition will take place at the time agreed with you. You should discuss with your Rabobank how to make the best use of the updated environment for your payments.
The impact of the transition is minimal. We will transfer your present settings on a one-to-one basis, so that you can continue to handle your banking matters without disruption. Settings that we will migrate include, for instance, address books, scheduled payments, standing orders, authorisations, user profiles and direct debit mandates. The authorisations you have already issued will not need to be replaced. Naturally, you will still be able to access your current and historical transaction details.
We would be pleased to make an appointment to provide further information on the transition to the updated environment. The matters to be discussed during this appointment include a checklist you can use to prepare for the transition and the deactivation of Rabo Cash Management. You can preview the checklist here.
Depending on the download format that you use in Rabo Cash Management, we advise you to switch, as part of the transition, to one of the future-proof download formats in the new online environment for business banking. The download formats in the two environments differ in several respects. Consult your advisor for information on the differences between your present RCM format and the future-proof RIB format.
Differences RCM MT940U and RIB MT940S
Differences RCM MT940S and RIB MT940S