Online Banking Convenience

Answer 1

If you are at all up-to-date with technology and the internet then you probably know that online banking is a convenient way to manage your finances. Additionally, you can have bill payments automatically deducted from your account on a monthly basis. This really eliminates the hassle of having to write a check and pay for postage.

After you register with your bank online, you can view your activity, transfer funds between accounts and view interest earned. Also, most banks provide you with fast methods to apply for loans online.

Some banks even offer a way to stay informed about your assets by giving you an option to set up a portfolio. Features include:

• Track your spending habits. You can track things such as gas, office supplies, bills, pet care etc. It also lets you see how you spend month-to-month by generating charts. • If you own a home, you can add your home to the portfolio to view your assets and net worth. • Add an outside account, by finding the institution and entering your access information to monitor it • Create groups of related accounts. For example you can group credit card accounts, business accounts and joint accounts in an organized method for monthly monitoring.

A very positive and beneficial part of a portfolio is a bill reminder. It displays the due date, minimum payment amount and the total amount due for each one of your accounts. You can track the progress of credit cards, insurance, mortgage and loan payments. This is an easy way to manage all of your finances in one place.

Although online banking is easy, you must take precautions to safeguard your information. Usually your bank will require an access ID and password in order to sign-on. Also they may require you to pick a picture usually know as a “sitekey”. After you log-in, the picture appears. Before entering your password, make sure it is the picture you chose when you registered.

Online banking has changed the way we handle our day-to-day finances. It has added ease and organization to everything from bills to our mortgage. It is simple, and only requires a little time to set up.