Technology has changed the way we function. It has modernized everything, and banking is no exception. Through online banking, you can now access your accounts through a cell phone or a computer. Online banking or internet banking is an online payment system that allows the customers of a financial institution or a bank to conduct a wide range of financial operations through the bank’s website. Online banking has revolutionized the way financial transactions are being conducted today. It is much more convenient and easier than its post-technology counterpart, branch banking. Through online banking, banks have reduced costs as online banking only has a virtual presence.
Thanks to online banking, now you don’t have to visit the bank in person and wait in painstakingly long lines. You can access your account through your cell phone and carry out all your important transactions while staying in the comfort of your own house. The advantages of online banking don’t stop there. Here are seven things you can do via online banking.
Pay Bills
You can pay your utility bills through your cell or your computer thanks to online banking. This saves you both time and energy that you would have otherwise wasted with a trip to the bank. You can even access all your payment history for each account you pay through online banking.
Make Deposits
Through internet banking, you can deposit checks by simply entering the amount on the check and taking a picture of both the front and back of the check through a secure app. The app will use the phone’s camera, but these photos will not be saved on your phone for security purposes.
Research Your Payment History
You can search your payment history for any specific payment transaction. Not only is this easy, but perfect for times when you lose track of your bill and want to check when was the last time you made a payment.
Review Your Account
You can review your account balance and activity through internet banking. Online banking allows you to check your account’s details 24/7, which offers convenience to those who don’t have the opportunity to get to a bank during business hours.
Make Transfers
If you happen to more than one account in a bank, you can make online money transfers. Your funds get transferred instantly and only takes a few seconds of your time.
Get Notification
You can get notified through text and mail alerts for any account activity. This keeps you up-to-date with your account balance, and this is perfect for those who have their paychecks deposited directly. Email alerts also help keep your account secure as they warn you of any fraudulent activity.
Send Money
Sending money to a friend or a family member has never been easier. Most banks offer a wire-transfer service through which you can instantly send money to anyone for a small fee.
Online Banking Security
Banks take special precautions to keep your account information secure. So, yes, online banking is secure. However, there are certain things you can do to keep your account secure. These include:
- If you ever happen to receive an email claiming to be from the bank and are asked for personal information, then chances are it’s not from the bank. These are scams that can leave you bankrupt. Also, don’t ever click on any of the links found in such emails.
- Never leave your account without logging out. If you are using the app, it will automatically log you out, but you have to do it manually if you are using your browser.
- Don’t access your account using public wi-fi unless you have VPN coverage, as this can lead to your account being hacked. Always use a secure wi-fi connection like the one at your office or home. These are protected connections.
- Keep your computer updated with anti-virus software.
- In case you notice any suspicious transactions make sure to inform the bank immediately.
With its rising popularity, online banking is the future. Many banks have even started shutting down their smaller branches and only offer online banking. If you haven’t started online banking, then do it today. It’s easy, it’s hassle-free, and it saves time.
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