If you are looking for a more convenient way to manage your money, you should consider internet banking. Internet banking has evolved into one of the most popular services offered by banks, with more than 60 million households across the nation utilizing the services. Internet banking is available 24 hours a day, except for short down times for servicing the website, so you can handle your banking on your schedule and online transactions are generally faster than mailing a paper check. Here are some things to think about when considering internet banking.
The Features
Most banks do not charge their customers for basic Internet banking, so you can take advantage of the features without it costing you anything. Most banks offer the ability to check account balances online, make automatic payments to your creditors, and transfer funds between accounts. The exact internet banking features will vary from bank to bank, but most banks now have the basic internet banking features available so that they can be competitive with all of the others. Some banks also offer mobile banking, where you can access your banking information by smartphone or tablet computer.
Internet Banking Security
All banks are expected to conform to Internet banking security guidelines issued by the federal financial regulators. Most banks prevent unauthorized access to your account by using encryption software to scramble account numbers and other identifying information. A section of the internet-banking website will be dedicated to listing tips for keeping your account information safe. You should never send a bank or anyone else an e-mail with personal information such as your bank account, credit card, or Social Security number. In addition, you should secure your computer by installing and automatically updating antivirus software and firewall protection.
Choosing A Bank
If your bank does not offer internet banking, you may want to consider moving your money to a bank that does. Visit the websites of other banks to compare their banking services, fees, and account limitations. It will take some time to comparison shop and open a new account at a different bank, but if you choose carefully, add convenience, and save money in fees, the time spent can be worthwhile. There are numerous websites online that rate various institutions’ Internet banking services for reliability, speed, and ease of use, so reading the reviews on these websites would be a good place to start your search.
How do you like online banking? Share your experience with our readers.