Why Do People Bank Online?
- Every bank is different, but online banking serves many convenient options for users. One of the most used options is the ability to view up-to-date balances and statements. Banks will issue an online user ID and password to enable you access to your account. Some banking websites, like Bankofamerica.com, utilize picture identification to log into an account as well.
- Banking online saves people time and money. Instead of wasting gas by heading to a bank or ATM, you can access all of your account information right from the computer. Some ATMs charge people money to view their account balances, but using an online banking system is completely free. Online banking also offers beneficial bill paying options that allow you to automatically set up payments for your bills with the bank or with other sources.
- If you improperly use your online banking account, information could be passed onto to the wrong people. The most common place to be weary about online banking is at public computers. For safety issues, most online bank websites will log out from inactivity, but your username and password could be saved to the computer's Internet browser. Make sure that all of your information is cleared from the system before leaving a computer that you have accessed online banking from.
- Online banking only adds to amount of things that used to have been done outside of the home. Along with online banking, people's lives have become easier with grocery deliveries, postage print-outs, and even telecommuting jobs that take place at the home. Before the wide-spread use of the Internet, people would have to go to the bank, grocery store and post office. Now it can all be done in minutes on the computer.
- Online banking offers more features than just viewing current balances and statements. You can transfer money from your checking, savings, or any other account you have, and even purchase a Certificate of Deposit right online. Current bankers with valid accounts can expand their accounts and open new ones for savings to be placed into. When people have cashed checks at an actual check, you can view a scanned copy right on your online account and save that copy for your records.