Online banking allows you to manage your money online-through the Internet, using your computer or mobile device-instead of going to a bank branch. In addition to saving trips to branches, you can also view account balances, transfer funds between accounts and more. In fact, you probably do more work online than in a branch (and you’ll get a better rate).
You can also use third-party services and applications to provide more. On this page, we will discuss how to start online banking – you can even start today.
We also focus on some common tasks, such as paying bills, depositing checks on mobile devices, earning interest on free checking accounts, borrowing money, and so on.
How to do online banking
If you are starting, there are two ways for online banking:
Use your existing bank.
Open a new account (possibly an online bank).
Use your existing bank or credit union If you already have a bank account, you have made half. Almost every bank or credit union offers online services-just the question of using them.
At least, it’s a good idea to sign up for your bank’s application or website, and it might also be worth looking at online banking. Login: to start online banking with an existing account, you must register to obtain an electronic service.
In most cases, this only goes to the Bank’s website, looking for “online banking” or something like that, and clicking “register” when requesting a username and password.
If you use a mobile device, you can do anything there-just download the application from your bank and register your username and password. Ask for help: If the process disconcerts you, do not hesitate to call your bank (or visit it) and ask someone else to help you in the process.
They want you to browse the Internet because you can handle your daily service requests on your own and take less staff time in the future.
Open an account online If you do not have a bank account anywhere (or you are going to try online banking), it’s time to open an account.
A fully operational bank account allows you to save a lot of time and money, and online banking can help you make better use of your time. Online? First, decide if you want to use online banking (it has no physical branch). Online banking is more likely to offer higher deposit rates and free checks.
However, physical branches provide valuable services that can not be accessed from a bank that only has Internet. Bank Portfolio: The good news is that you can do both, open an account at a physical bank or credit union, and open an account at an online bank.
Online banking is almost all free accounts (assuming you do not refuse to pay checks or overdraft accounts), so there is no additional charge for maintaining another account. Open an online account: If you want to start online banking, you can also start by opening an account online.
Most banks now allow you to complete your application completely online.
Do you want to know where to open an account? It is better to research and find a bank that really meets your needs, but these two classic online banks are hard to make mistakes:
Capital 1 360 provides savings accounts and checking accounts that pay interest.
Alice Bank offers savings, money market accounts, interest checks and other products (read reviews).
What you can do on the Internet
Once you start running, it’s time to start using your account. If you wish, you can simply check your account balance.
But if you’re ready to do more, you can keep doing more advanced tasks. Pay bills: one of the most useful features of online banking is free online billing payments. You can have your bank do everything for you, instead of writing checks and payments by mail, and you can save money on stamps.
Learn to pay your bills online. Earn more: online banking is a great place to save money. Most online accounts pay more than traditional physical accounts, while only Internet accounts pay the highest interest rates (usually no charges or minimum account balances are charged).
If you want to earn more money, online banking also offers money market accounts and certificates of deposit. Free check-up (and possibly interest): it is increasingly difficult to find free checking accounts in physical banks, but in online banking, free checks are the norm.
In fact, online banking can even pay interest on the cash in your checking account. Deposit check: If you have a mobile device with a
Similarly, if your salary is still a check payment, why not automatically deposit the money in your bank account? If you request a direct deposit, your employer will give you the money more quickly. Send money: do you need to pay for a friend’s food or rent? There are several simple ways to send money to someone without having to write a check or change money.
Most banks provide personal payment services to people, while other services (such as PayPal) are only used as the front-end access to your bank account.
See how to make an electronic payment (usually free of charge). Transfer of funds: You can also transfer funds between your own bank accounts. If you want to transfer money from one bank to another, or simply transfer from a bank’s checking account to another bank’s savings account, an application or website can make everything easy.
You can even buy CDs in cash, and you do not have to spend money in the near future. Research history: Do you need to know how much money you spent on a particular project (or average monthly utilities)? This information may be available online in your bank record.
If you need any documents, you can download the extracts and images of the checks you wrote, or you can view the transactions to prevent fraud from entering your account. Paperless: rarely need statements on paper, and these files only create confusion and make it easier for identity thieves to have them in their hands. You can also save resources, including paper for printing, ink, plastics and fuel, to transport these documents monthly.
If you need a report (for example, when you get a mortgage), you can always print one or two copies that you really need. Use of financial tools: it is prudent to keep a record of your finances. If you know where all your money is spent, you can make better spending decisions and it is easier to achieve your financial goals. There are many third-party tools that can help you classify and budget expenses (including Mint, etc.), and your bank may already have integrated personal finance management tools.
Online allows you to download transactions or authorize your software to automatically obtain the information you need.
Understand your balance of payments: If you want to know exactly how much money you have in your account and how much money you can spend, the best way is to surf the Internet. Ask for help: If you need help with a service problem, try to process the business online. Especially when you are not in a hurry, it might be easier to send an electronic request to a customer service agent than to make a phone call. Self-service options are also available, and may even be your quickest option.
You can change your address, request a copy of the check and handle other everyday matters yourself. Loan of money: in addition to deposit accounts (such as checks and savings accounts), you can also borrow money online.
Traditional banks allow you to fill out application forms, while new online lenders make completely different loans-easier to obtain approval, faster, and possibly even cheaper.
How to stay safe online
Online banking makes life easier, but it also creates opportunities for thieves. Fortunately, you may be safer when you are online to manage your money. The security features of financial institutions are so powerful that you do not have to worry about outdated technologies, such as mail theft and counterfeit checks.
In fact, the US government encourages everyone to access social security (and other benefits) through direct deposits, in part to reduce fraud.
Some frauds are out of your control, but your behavior is important, it’s easy to stay safe: Request for information: think twice before providing personal information online.
Your bank will never contact you by phone, email or text message, and will ask for your account number, social security number, password or PIN (almost all of these requests are phishing scams). Security software: Keep your device updated (including operating system updates, spyware and malware, and antivirus protection) and you will be immune to most threats.
Avoid using old non-compatible equipment for financial transactions. Public places: Avoid the use of public networks to access bank accounts (including free hotspots in coffee shops and even hotel networks). If possible, leave these tasks for yourself when you are at home or work in a network that you trust. If you have