Here’s What You Need To Know About Online Banking

Online banking is designed to be convenient and save you time, letting you do your banking on your own schedule rather than during the hours your local bank branch is open. There’s a lot you can do with just a computer or your mobile device and a working internet connection.

Opening Accounts

You can now open checking, savings, and other accounts online, without the hassle of printing or even physically signing anything. The entire process can now take less than just 10 minutes.

Paying Bills

Your bank can now print and mail a check for you every month. It’s also possible to send money to a payee electronically, even if the owed amount changes every month.

Transferring Funds

If you ever need to move money from your checking account to your savings account, you can carry out these internal bank transfers online. You can even link your accounts at different banks or send money to friends and family instantly through person-to-person services accessible through the app.

Applying for Loans

Applying for and getting a loan is traditionally a paperwork-intensive and stressful process, but it doesn’t have to be. Using an online application speeds up the credit-check process, helping your bank or credit union respond more quickly. Some banks with online loan applications can even make funds available the same day you get approved.

Depositing Checks

It is now super easy to deposit a check from home as well if you have a smartphone. Using the app’s mobile check deposit, you can snap a photo of the check and submit it for payment.

Viewing Transactions

Most banks and credit unions make it easy to check your available balance, verify transactions and review previous monthly statements, all online. You can receive transaction reports by type, time, and amount.

Staying Informed

Another benefit of online banking is setting up alerts via text or email.

Alerts like fraud checks, credit, and debit checks, and more are great for informational purposes and they can help you quickly stop criminal actions. For example, if you are ever notified of a change in your password that you did not request, you can immediately contact your bank and have them prevent the perpetrator from draining your account.

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