Online banking via a computer or smartphone is becoming more and more popular. Many banks even offer you the ability to make deposits remotely which saves you a trip to the bank and gives you the ability to deposit funds any time of the day or night. If you are not yet fully utilizing online banking below are some of its most appealing advantages:
No Hassle Banking
Online banking gives you the ability to perform many of your day-to-day banking tasks from anywhere with an internet connection. You can view your accounts in real-time, transfer funds with just a few quick clicks, deposit checks with your smart phone (for many banks), deposit checks at your ATM, pay bills online, apply for loans, open and close accounts, and so much more. All of this without making a trip to your bank—no hassle and no waiting in line.
Sometimes you need to perform transactions outside of your banks normal operating hours. Many people have busy work schedules making it difficult to bank during banking hours. With online banking you can perform many banking transactions at times that fit best in your schedule. This is also convenient when you are traveling in different time zones.
Online banking offers you the ability to get up to the minute details on your banking transactions. You can verify what transactions have cleared, are pending, and scroll through a list of your most recent transactions for at least the last several months.
Manage Your Finances
Take a look at your banks online menu to see what tools they offer to manage your finances. Many banks have additional tools that allow you to track your spending habits so you can see where your money is going and allow you features to create monthly budgets. You can also set up automatic bill pay for all of your outgoing household or business needs. Once you set up bill for automatic bill pay you can schedule recurring monthly payments or you can login and send sporadic payments. Many banks also offer ways to accepts payments online via your email address or phone number. You can also quickly transfer funds between your accounts.
While online banking has many benefits it is still good to pop into your bank everyone once and a while to keep in touch with your bank staff. If your bank staff can connect your face to your name it is helpful when emergencies arise such as a lost or stolen wallet or purse. It is also good to have a face-to-face relationship with the bank that is helping you manage your finances. If you are new to online banking you could even ask your bank to give you a quick tour of their online banking features.
Practice Safe Online Banking
Your banks website has multiple security features built in to protect your finances and your identity. For example your banks website is able to detect when you login from a different computer or phone and will request you to answer a series of questions to determine who you are. That being said, you need to make safe decisions when performing your banking online. Here are a few suggestions:
- It is best not to login from hotspots. If you do it is suggested that you disconnect from the hotspot once you are done banking.
- Always open a new browser to login and close the browser when you logout.
- Your banking password should not be obvious (birthday, pet or child’s name), and should contain at least one number, one capital letter, and one symbol.
- While your banking session will timeout if your screen sits idle for a few minutes, be very aware of when you are in your banking screens and logout as soon as you are done.
- Be aware of when and where you are online banking and make sure that you are not giving people accidental access to your account information.
Online banking gives you the freedom and flexibility to manage your banking online, however it does not replace all of your banking needs. To learn more about online banking check with your local branch.
Daniel Zimmerman writes on finance, banking, business, online-based businesses, marketing & advertising, accounting and other related topics. Those interested in the banking field may want to consider viewing the banking jobs with moneyjobs.com