If you’re like most modern Americans, you do much of your shopping online. And more and more people aren’t just spending their money online, they’re managing it there, too. Online banking and online shopping are similar in many ways: they are easy to use, highly accessible, allow you to remain seated comfortably at home and can even help you save money.
Here’s why you should consider online and mobile banking:
1) Cut Down on Fees
When members use online banking tools, they have less need to go into a branch and work with employees in person. The more banking customers complete online, the more financial institutions can save by cutting back on brick-and-mortar operations. This is good news for you because credit unions typically pass these savings onto their members.
2) Online Banking May Help Save
There is one subtle advantage to banking online that can be a powerful tool for growing your account balance: online banking may help you make fewer withdrawals and save more. With everything you need online, you will have the ability to actively monitor your spending and see where your money is going. You might not feel like, or remember, to check on your accounts every day if you have to go out of your way to do so.
3) Mobile Tools Make Online Banking Highly Accessible
Mobile developers and bankers are aware of the growing number of people interested in online banking and are making tools to keep up with the demand.
“The biggest benefit is that you have more control of your money,” says James Van Dyke, president of the financial services and payments research firm Javelin Strategy & Research. The constant availability of mobile networks means that you can check your funds no matter where you are, even if you don’t have your computer or access to WiFi.
If you have a smartphone, you’ll have access to another handy feature: mobile deposit. Snap a photo of your check to deposit it in your account, rather than driving to a branch.
4) You Can Easily Send Money to Others
Need to send a friend or co-worker some money for lunch? Use Popmoney! All you need is their phone number or email address to complete the transfer. The recipient will receive a notification from Popmoney, and will be able to securely enter the information of the account they wish to have the funds deposited to.
When you use your Aspire MasterCard Debit Card, you’ll get cash back offers from the stores and restaurants you like to go to. All you need to do is log into online banking to view your offers, claim the ones you want, and get the rewards!