The internet has revolutionized how banking works. Instead of needing to keep a close eye on a bank account through multiple trips to the bank or by taking account of every expense with pen and paper, it is now possible to keep track of everything online. Online banking has made things like bill pay and budgeting a much easier task. However, online banking can also be overwhelming at first. Whether it's a teenager opening their first bank account or an octogenarian going online for the first time, here are 3 tips that first time online banking users may find useful.
Take Advantage Of What The Bank Has To Offer
One thing that many people do not realize is that their banks often offer a plethora of awards, special deals, and banking options. The trick is that the customer needs to be aware of these programs and to sign up for them. There are a lot of rewards that banks offer in order to get customers to open up checking accounts with them. Things like cash back and even air miles are offered as rewards by certain banks. However, many of these rewards are found by going online. Online banking allows the customer to be able to easily find perks that they may have otherwise missed.
Automatic Bill Pay
A big advantage of participating in online banking is that it allows for the easy set up of automatic bill pay. Remembering to make out a check and send it in to pay a bill can be a hassle. Online banking has revolutionized bill pay. Instead of having to go spend money on stamps, bills can now be paid directly online. Automatic bill pay can be set up so that the bills are deducted from a checking account without the for the account holder to lift their finger. First time online bankers should certainly consider using automatic bill pay features.
Take Advantage Of Apps
Smartphones are something that many Americans have in their pockets at all times. They are also something that can actually help with online banking. Banking apps keep all the financial information an account holder could need right at their fingertips. Around 39% of adults now use online banking apps and that number continues to grow. The main reason that newcomers to online banking should take advantage of phone apps is that they allow for the checking of the account's balance at any time during the day. These apps also make money management much easier while on the go.
Online banking has changed the way that many think of money. Those new to online banking should make sure that they are taking full advantage of the perks that their bank offers through online banking, enroll in automatic bill pay, and take advantage of phone apps for banking that can make keep track of their finances even easier.