It’s no secret that we live in a digital world. We do all kinds of things digitally, and if an individual hasn’t adapted to this lifestyle, they’re definitely behind the curve. In just about any service industry you can think of, consumers can find the things they need at the click of a button. Banking is no exception to this rule.
Have you moved 100% of your banking online yet? If not, you’re missing out on a world of benefits. Here are eight reasons why you should move your banking online if you haven’t already.
1. It’s extremely convenient.
One of the main reasons to move to online banking is convenience. Online bank customers are able to bank from anywhere with a simple connection to the internet. All those monotonous tasks that would previously have required a trip to the bank branch can now be done online. Some of these tasks include the following:
- Checking account balances at any time
- Tracking your daily transactions
- Setting up auto payments for your bills
- Setting up direct deposit on your own
- Depositing checks
- Transferring funds to different accounts
There’s so much you may not even realize you can do with online banking. You’ll quickly realize that it’s not only more convenient, but it’s also just all-around better than in-person banking.
2. You can take advantage of amazing features.
You’ll be happily surprised at how awesome banking can actually be when you choose to do it online. People who bank online don’t just enjoy the convenience of it, they enjoy benefits that traditional banks don’t typically offer.
Some online options, for example, offer a feature called round-up saving. Every time you swipe your debit card, you’ll grow your nest egg. The card’s app rounds your purchase up to the nearest dollar and transfers the difference to your savings account. You can also boost your savings by opting to automatically transfer a percentage of your paycheck directly to your savings account.
3. It can help you reach your financial goals with ease.
Round-up saving is a great feature, but really, any online bank can help you more easily reach your financial objectives. When you have 24/7 visibility into your accounts, setting goals and tracking your progress toward those goals becomes easier. By being able to see how much you’re bringing in and tracking your expenses closely, you can create a budget that works for you.
Not only will you constantly be aware of where you stand, but online banking puts you in control. Maybe you want to automate transfers to your savings account. Instead of making a trip to the bank, initiate your new saving habit with just a few clicks. Some online banking companies even offer investment options to their users as a part of their tool suite.
4. You can avoid unnecessary trips.
As you can tell, making the switch to online banking is going to save you quite a few trips to the bank. Whether you need to open an account, talk to a financial advisor, or deposit a check, none of these tasks requires leaving home. You can do all of these banking activities (plus many more) with an online banking service.
You don’t even need a physical bank to access an ATM. Online banks have wide-ranging ATM networks that allow you to get fee-free cash when you’re out and about. So why drive to a bank and wait in line? Save time and headaches by going virtual.
5. You can say goodbye to unwanted fees.
If you’re not already convinced that online banking is the way to go, ponder this: no (or very low) fees. Money is already such a big stressor in so many people’s lives, and traditional banks are notorious for their hidden fees. That’s not the case with online banking.
Most online banking companies charge lower fees or none at all. Since they don’t spend money on maintaining physical locations, they can forgo charging monthly service fees to their members. Some don’t even charge for overdrafts.
6. It makes moving easier.
You might be comfortable with your small, hometown bank because it’s familiar to you. But such banks often don’t offer the advanced features that online banking companies do. They probably won’t have a user-friendly app or many (if any) online features available.
Plus, if you move away, banking suddenly becomes a huge headache. The bank’s lack of online capabilities and limited geographic reach will make routine banking tasks a hassle — and potentially expensive. Think of all the out-of-network ATM charges you could wind up paying! You can prevent all these annoyances by switching to online banking.
7. It prioritizes security.
Many people fear moving to an online bank because they fear that their information won’t be as safe. This is actually false; online banking companies make security a top priority.
Touch ID and secure passcode options on mobile banking apps will keep your account information secure. Also, any debit cards or credit cards you receive will come equipped with more secure chip technology. Online banks are usually ahead of the curve when it comes to technology and innovation, so expect cybersecurity protections to be the norm.
8. You can achieve financial freedom at last.
There are countless benefits to online banking, but it really all comes down to one thing: financial freedom. Having access to your account information at all times will give you peace of mind. Plus, the improved account monitoring capabilities will help you achieve your financial goals much more easily.
Visibility into your finances encourages accountability. As you see numbers go up or down, it will motivate you to save more or possibly invest. And the best part? Online banks give you the mechanisms you need to not only bank with ease but to do so faster than you thought possible.
You’ve probably experienced online banking to some degree, but 100% online is the way to go.
You can eliminate pointless fees and undesirable trips to the bank. You can still get financial advice when you need it while taking advantage of countless features. Give online banking a try, and you won’t want to go back.
Follow Techdee for more informative articles.