6 Best Online Banking Features for Simplifying Your Life

E-banking entails using banking services over the internet, which allows customers to access bank services online. Customers can perform various financial transactions and access their accounts using their laptops and phones. Below is a list of ways online banking makes your life easier.

Secure Message Alerts

One of the best reasons to use E-banking is that you receive notifications in close to real-time. Such messages are trivial and sometimes annoying, but can also save your life. For instance, you get notified when:

  • The date for bill payment is approaching
  • There are failed attempts to log into the account
  • Transactions are denied or completed

Getting an immediate alert if suspicious activities happen on your account is beneficial, as waiting for too long may have disastrous consequences. According to many banking giants, educating yourself on how hackers may break into your bank account helps protect yourself better.

Electronic Statements

Traditional bill statements are a waste of paper and unnecessarily clog up your mailbox. Switching to email statements results in digital clutter, but deleting an email is more straightforward than shredding a piece of paper. Apps like Google Inbox allow you to receive and read the bill reminders no matter your location. According to Kevin Cohee, switching to electronic statements is crucial as you can always print a paper record for a particular bill if required.

Easy Account Creation

The time for creating a bank account in person is long gone, and it is now possible to complete the enrollment process without leaving your home. The application may take less than 10 minutes, depending on the bank chosen. All that is required from you is to input a few details and send photocopies of the identification required by the bank. Once you have created an account, additional accounts become easier to make as the bank has the required information in its database. Experts say having multiple accounts in One United Bank means moving money between them for free without delay.

Automated Bill Payments

Each account holder pays various bills every month. You have to pay mortgage/rent, car loans, utilities, student loans, multiple types of insurance, and all other subscriptions and enrollments in your life. If those bills come once per month, most online banks enable you to link them directly to your account to ensure they are paid on time automatically. Automatic bill payment minimizes the stress and should be used only if the account balance is enough to cover all the bills at any time. It, however, requires you to remain disciplined, especially if you live paycheck to paycheck.

Mobile Check Deposits

The concept here is that instead of visiting your local bank branch to deposit the check, you can upload the front and back of the bill and send the details to the bank. You can download the mobile deposit app from Play Store or App Store. Experts advise you to ensure that the bank offers this feature before trying it.

Report Management Tools

Before the onset of online banking, getting on-demand summaries and reports about your account activity was hard. There was also an associated fee for retrieving the information, which varied from bank to bank. With online banking, you are required to click on the menu to download the report. Most banks provide clients with transaction history, but a few have advanced features that allow you to view the amount you have spent on entertainment, bills, and emergencies.

The listed features of online banking indicate that it is a convenient option. However, a stable internet connection is required to enjoy uninterrupted services. Internet banking saves you time, minimizes your interdependence on your bank branch, and enables you to transact securely and remotely.