Although most people now are taking advantage of doing their banking online, there are still many out there who are afraid to take the plunge. They may think it’s not secure enough, or they may have just gotten used to paying their bills by mail or with a teller. I am a big fan of online banking, and here a few reasons why:
1. Online banking is a great way to pay your bills.
Most, if not all of your bills can be paid online through your bank’s online banking. It only takes about a minute to set up a payee initially, and then your online banking will remember your bill information for the next time you need to pay your bill. Paying your bills online ensures that your bill gets paid on time and it is a lot quicker and cheaper than sending your payment by mail or going in person to a branch.
2. Online banking will save you money.
If you use online banking to check your accounts, you won’t have to pay for paper statements. Many banks encourage the use of online banking as it saves them money. In turn, they pass some of their savings on to you. Most banks have no fees to access online banking, but many banks do charge if you still want paper statements sent to you by mail each month. As mentioned above, you also save money on postage stamps if you just pay your bills online, rather than mailing a check.
3. Online banking will save you time.
Rather than standing in line at your bank to deal with a teller, many transactions can be taken care of online. You don’t need to drive to the post office as often either, when you pay your bills online, so think of how much extra time you can use for other things that are far more interesting than banking.
4. Online banking helps you stay on track.
Because you can check your accounts any time of the day or night, you don’t have to worry about what’s cleared and how much is in your account. Just sign it and do a quick transfer from your savings to your checking account if you know a big check is coming through. As well, checking your accounts frequently is a great way to catch any unusual activity that may be occurring in your accounts. If you rely on paper statements that only come monthly, it may take a lot longer to notice any discrepancies.
5. Online banking may be safer than the alternatives.
Although some folks think online banking is risky. Think of the risks associated with mailing a personal check to pay a bill. If the bill got in the wrong hands, someone would know your bank account info. Besides, bills could be paid late if the mail is delayed for some reason. The thing to note is to always make sure you sign out as soon as you are finished with your online banking. Never share your password and select a password that would be difficult for someone else to guess.
Online banking is a great feature that your bank offers you. Make sure to take advantage of it.
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