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Banking Online

Frustrated with long teller lines and high fees? Banker's hours don't match your schedule? Then banking online may just be for you. Most financial institutions offer some form of online banking, and some offer incentives to earn your business. Some of the benefits of online banking are:

  • Banking on your schedule, at your convenience 24 hours a day, 7 days a week
  • Transferring funds, checking account balances, paying bills, even applying for additional accounts or loans from the privacy of your home or office computer--in fact, anywhere you have access to a computer with Internet access
  • The ability to manage your finances with instant, up to the minute account balances and account activity
  • Accessing your cash through most network ATMs (especially important for Internet only banks)

Should you be banking online?

Save Money: Using online banking services as a financial management tool can definitely save you money. The ability to watch your accounts and balances closely and instantly can save you from returned check and non-sufficient fund charges. Because you know your exact balances at any given time, you are in control of your finances - not the bank.



Make Money:
Obviously everyone is interested in making a little money now and then. When you do your banking online, you can make money in a few ways:

  • The ability to monitor your accounts online allows you to determine the best place for your funds and transfer them accordingly on a moments notice (such as watching your working funds and then transferring amounts you know you don't need right away to a more lucrative interest bearing account).
  • Most Internet banks offer very competitive interest rates on Money Market Accounts and Certificate of Deposits (CDs). These banks can offer higher rates because of their low overhead.

Save Time: Banking Online can also save you a lot of time. You can manage all your finances from your computer on your schedule -not on the bank's. Transfer funds, check account balances, even make bill payments. Like most of us, paying bills every month is probably the one financial chore that takes the most time and is the most unenjoyable. Too much time, too much pain, too many envelopes, checks, stamps.....Stop! Now paying bills has been simplified and can actually be relatively painless.

Using an online bill payment service can cut the time it takes to pay bills down to minutes. Once you initially set up your bill payment service, you can fly through the bill paying in no time. It can also save you hundreds of dollars every year -- no more stamps to buy, less checks are used and reordered, and you can tell exactly when your payment will get to the payee and when it will be taken out of your account. This management tool can all but eliminate late fees from payees and returned checks for insufficient funds.

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