As more and more products and services are impacted by the convenience and increasing security of the Internet, more and more consumers are taking advantage of all types of online banking services. Online personal banking, once the province of a few “connected” early adopters, is now one of the most-used conveniences banks can offer their customers. In fact, even the smallest banks and credit unions now offer online account access, and most larger banks are quickly expanding the online personal banking services available to their depositors.
With some banks, you can not only check the daily updated balance in your checking and savings accounts; you can keep track of your mortage and other loans, transfer funds between related accounts, and even pay bills—all with a few keystrokes on your personal computer. Day-to-day financial tasks that used to require precious time out of your lunch hour can now be completed in seconds without ever leaving your chair. Online personal banking is clearly here to stay!
Getting Started With Online Personal Banking
Check with your bank to see what types of online personal banking services they offer. Most services are now available free of charge with the opening of a new account, and many do not even require maintenance of a minimum balance. Some banks waive applicable fees if two or more related accounts are integrated into online personal banking. User interfaces for these programs are typically very intuitive and easy to use, but online support is almost always available during banking hours and, in the case of some larger, nationwide banking organizations, may even be available 24 hours a day, 7 days a week.
Online Personal Banking – Paying Bills without Postage
One of the most popular online personal banking services is the capability of paying bills online. Customers can set up profiles for the payees they interact with regularly—utility companies, credit cards, or even local merchants or individuals—and with a few keystrokes, they can draw funds from their accounts to make payment—and they don’t even need to mail anything!
Expanding Opportunities With Online Personal Banking
As the online revolution continues, consumers are likely to see even more options available through online personal banking. Some large banks now offer online “safes,” a means for customers to keep important data in an encrypted, secure location. Retirement and investment accounts are now being accessed online, and in some cases, customers can request withdrawals, shift asset mixes, and perform other administrative tasks as part of their online personal banking service.
It’s All about You!
In the banking industry, relationship management has long been the watchword, and banks are quickly utilizing the convenience of online personal banking to establish new relationships and cement existing ones.