Financial well-being December 27, 2016 By
Just a Click Away...Manage Your Finances with Online Banking
If you’re like many people, you may still pay your bills by mail or make loan payments at your financial institution. While you may not be able to do everything with online banking, it may be time to try it out. With direct deposit or automatic deposit options, you may never need to go into a branch again. But, the purpose of online banking isn’t to change your money habits; rather, it aims to harness today’s advanced technology in order to help you manage your finances quicker and more effectively.
Online banking sites offer an unprecedented amount of convenience for consumers. They’re available 24 hours a day, seven days a week, and can be accessed right from your home computer. If you are out of town, whether it be out of the state or out of the country, you can instantly log in to your account to fix the issue. In fact, online banking offers transaction speeds that are faster than an ATM.
Additionally, with online banking, you have the ability to access and manage all of your accounts from one secure source. Many online banking sites also offer a variety of sophisticated tools, such as account aggregation, stock quotes, rate alerts, and portfolio management programs to help you manage all of your assets in the most effective way. Plus, most online banking services are compatible with money management programs, such as Quicken® and Microsoft Money™ to make this process even easier.
Some people are concerned that online banking is not as secure as in-person banking, conducting financial business over the telephone, or even using an ATM. Federal law requires financial institutions to place multi-layer authentication systems within their online banking services. Simply put, that means there must be multiple levels of security within each financial institution’s online banking service to prevent fraud and other crimes from happening.
This article was re-posted with permission.
