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Take Control of Your Finances with Online Banking

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Take Control of Your Finances with Online Banking

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Now, there are as many ways to bank as stars in the sky. Here is a quick guide to online banking that will help you know what is right for you.
TAGGED UNDER: Internet Banking

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In this day and age, online banking is an absolute must. It is becoming increasingly difficult to avoid banking online, which means that you will eventually have to get used to doing some of your financial work online. Many concerns about security and identity theft have been addressed, which is great. However, there are still so many options for banking outside your bank that it can be difficult to decide what banking method is right for you and your family. This quick guide is designed to help you decipher the options and start taking virtual control over your financial future.

Security

Many concerns about online banking stem from security issues with banking from a device. While it is true that people can hack into computer systems and steal information, the same thing is true for filing paperwork. If someone stole the paperwork filed at your bank, they would have access to all information. Realistically, online banking is no less secure than working with a banker, and it is much more convenient. Most online transactions are encrypted, so your information does not get stolen. This is much safer than having paper copies of financial reports in a filing cabinet. If you are unsure whether online banking is secure, you should talk to a professional at your bank who can explain the process and ease your fears. It’s a scary thought that if someone wants our information, they can get it, but whether you bank online or with a banker, your information is out there somewhere. It is best to take proper measures to ensure your safety, like not storing passwords on your computer or online.

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Internet Banking

Internet banking refers to using your bank’s website to process information. This can mean you use this site to manage loans, digital checks, savings, checking accounts, pay bills, and transfer funds. Most banking websites also allow you to download statements in PDF format that you can keep for your records if you want to. However, if you are interested in going green and saving the world from printing unnecessary paper, you can view those statements and then delete them from your computer. With online banking, it is also possible for you to go completely paperless, which is extremely helpful for the environment.

SMS Banking

SMS banking is similar to online banking in that you can do some things without going to the bank. However, it is different because you primarily use text messages to perform certain actions. Therefore, the actions you can perform are sometimes limited. Depending on your bank, you may be able to use text or SMS messages to receive an account balance at a set time and get alerts when your account dips below a certain balance or when a large sum of money is withdrawn. Some banks also allow you to transfer funds between linked accounts, stop payment on a check, and pay some bills through SMS.

Mobile Banking

Mobile banking is very similar to Internet banking, except you use a smartphone to access the bank rather than a computer. Many smartphones have apps that connect you directly to your bank, giving you information about your accounts. They also allow you to pay bills or transfer money, and some banks even allow you to make deposits by taking a picture of the check.

Todd R. Brain

Beeraholic. Zombie fan. Amateur web evangelist. Troublemaker. Travel practitioner. General coffee expert. What gets me going now is managing jump ropes in Africa. Had a brief career working with Magic 8-Balls in Libya. Garnered an industry award while analyzing banjos in Prescott, AZ. Had moderate success promoting action figures in Pensacola, FL. Prior to my current job I was merchandising fatback in the aftermarket. Practiced in the art of importing gravy for no pay.

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