The COVID-19 pandemic has forever changed how we do things, including online banking. The need to adapt to making transactions online has resulted in the majority of consumers (61%) using digital banking services at least once a week, according to Bankrate.
Taking advantage of your banks’ digital banking tools is essential now more than ever. Not only can they provide convenience, but also the means to improve your overall banking experience. Here are ten reasons to explore digital banking options:
- Bank on your time - No need to wait until the bank opens to conduct business. Bank when you want, where you want.
- Bill paying services – Don’t worry about missing a payment or needing to buy stamps. By having your bank pay your bills for you, you can set the frequency, pay from multiple accounts, and schedule payments up to a year in advance of the due date.
- Account alerts - Get notified for such things as when your balance gets low, a transaction occurs, or payments are due, via text or email.
- Deposit checks electronically – You don’t have to visit a branch or ATM to deposit a printed check. Most bank apps have mobile check deposit; just take a picture of the check through the app, and it’s placed into the account of your choice.
- Direct deposit - Save time and remove the hassle of depositing your paycheck by having it immediately deposited right into your account, direct from your company’s payroll.
- No additional fees – Generally, there are no extra costs associated with online banking. However, you should confirm with your institution.
- e-Statements – Not only are e-Statements good for the environment, but they’re also convenient. You can access them anytime, on-demand, going back months.
- Money transfers – Sometimes, unexpected expenses come up, and you need to transfer money from a savings account to a checking account. Online banking makes it fast and easy, and most banks don’t charge a transfer fee.
- Easy to apply – Want to open a new checking or savings account? Online banking makes it convenient and easy. You can open a new account in a matter of minutes, as long as you have the required information like your driver’s license and social security number handy.
- Security – Most banks employ the latest security tools to protect your data on all of their computers, including those used to support online banking and bill payment. With the use of firewalls and advanced security software, you can be confident that your information is fully protected.