Best of Online Banking Features
The online world is full of fun distractions, from social media to games, but it also offers a functional aspect to everyone’s lives. It’s no longer necessary to physically visit a bank for your financial needs. Simply log on to your bank’s website, and you have access to nearly every feature possible. Take a look at the best of online banking features in order to simplify your personal accounting.
Fraud can occur at any time, including unauthorized credit inquiries and surprise withdrawals. One of the best online banking features today is alert settings. You can be alerted through email or text if a certain money amount is withdrawn from your account. In the past, you would only know about an unauthorized withdrawal when you received your monthly statement. It’s possible to notify the bank within hours of the issue so that your money can be replaced in no time.
Depositing Checks Remotely
Receiving a check used to be a hassle because the money wasn’t available until you physically deposited the funds at the bank. Currently, you can take a picture of the check with your smartphone and virtually deposit it. Although the funds still need to clear between the banks, the depositing effort is minimal. You’ll be able to use the money in less time than before.
Moving Money in Seconds
You might have one checking account and three savings accounts. Transferring money between the accounts was a chore at the bank in the past. Simply go online today, and transfer money with a click of a mouse. Transfer money in the middle of the night or at the crack of dawn if you desire. Online banking is always open. You can even set up an automatic transfer that eliminates the need for any manual effort. These online features give you a chance to add as much money to savings as possible so that interest accrues very quickly.
Removing Those Fees
Computers perform most of the work within the online-banking world. There’s no need to employ several tellers to perform the transactions. As a result, one of the best online banking features is few or no fees. Most banks simply require a direct deposit of your paycheck to eliminate the most basic fees. If you follow the bank’s rules, you’ll probably avoid every fee possible. The bank doesn’t have as much overhead invested in online banking so there’s no need to charge customers with fees on every transaction
Analyzing Your Account
Your checkbook might have pages of information about each transaction. If you try to analyze this information, it may take a long time before you reconcile the data. Online banking allows you to sort, filter and list every data group that you can imagine. Analyze almost every aspect of your account, such as:
- Cash withdrawals
- Check activity
You’ll be able to see patterns and reduce those expenditures as necessary. Online banking keeps you in control of your budget with smart sorting of every transaction.
There’s a mixture of different banks today, including online-only institutions and traditional entities. If you’re thinking about joining a new bank, perform some research first. It should be backed by the FDIC with a good reputation among consumers. In the end, you simply need a reliable bank that allows easy access to your money at any hour.