The Top Five Reasons to Use Online Banking
Online Banking is not a new feature in the banking world. In fact, a version of it has been around since the 1980s! Thankfully, we have evolved to a more sophisticated Online Banking platform in 2023. Believe it or not, there are still plenty of Online Banking holdouts. If that sounds like you, here are the top five reasons why you should consider taking the plunge into the world of Online Banking.
Bank when, where, and how you want
“Bankers Hours” may not exist in the same way they did in the good old days, but financial institutions are not open 24/7. Do you know what is available 24/7? That’s right – Online Banking! Barring some occasional downtime for technical difficulties or enhancements, your Online Banking is available when you are. That means you can bank when and where it is convenient for you.
If you have multiple accounts or accounts with family members, it is easier than ever to transfer money between shares. Simply cross-link outside accounts, and voila. The convenience doesn’t stop there. You can do more in Online Banking than just monitor transactions. Need to change your address? Save yourself the hassle and update it in Online Banking. Want to apply for a loan? You can do that right from your account. Need a reminder about your loan due date or when deposits come in? E-Alerts can be added for a variety of triggers.
Earn dividends at some institutions
At some institutions, using Online Banking services (like e-Statements) is a requirement to earn interest on their products. Take our Ultimate Checking account, for example. When you open that account, you can earn up to 1.00% APY. That’s not too shabby for Checking. To qualify for that full 1.00% APY, we ask our members to meet qualifications, including that they opt-in to e-Statements. So, not only is the Online Banking service free to use, but in some cases, it could help you earn even more money than you would without it.
Easy to use and track
Some of us might remember the days when you had to dig through a pile of receipts to balance your checkbook. Even if you still record transactions in a check register, Online Banking is a great tool for your banking arsenal because it never forgets to record a purchase. You can view all of your transactions with a click of a mouse. Plus, while you might run out of space, or worse yet, lose your check register, Online Banking keeps all of the transactions in place for you. Let’s not forget that you can easily track your available balance in real-time, search for specific transactions by date, check number, or dollar amount, and of course, pay bills in a flash with Bill Pay.
Go green
Unless you are living under a rock, you probably know all about how important it is to protect our environment, and reduce our footprint whenever possible. That initiative is not just some fancy promises spoken by corporate big-wigs. Your local credit union is also putting environmental conservation and sustainability at the forefront of their minds. We can do this by electing to save paper, but it’s not all up to us. Our members need to opt into receiving e-statements rather than paper statements as well. Together, we can make a difference in the world that our children and grandchildren inherit from us.
Free to use
I may have saved the best for last, but Online Banking gives you all of the convenience and security that you’re looking for without any cost to you. What are you waiting for? Register for Online Banking and our other e-Services today!
What are your thoughts on Online Banking and e-Services? I want to hear from you. Leave a comment below or email me.
Krista Kyte is a personal finance blogger and personal banker with over 20 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that help consumers reach and maintain financial security and start living the life they’ve always wanted.
