Top 10 Reasons To Use Online Banking
24-hour access, you just need a computer, tablet or cellphone with Internet access
2. Free bill paying.
Payees name and address can be set up once. Recurring bill payments can be scheduled, like lease payments, mortgages, etc.
No lost mail with confidential information. Bank software is very secure and getting better. Third parties, i.e. Tax Accountant, chosen by you, can also get limited, secure access to you banking information.
4. Link to Financial software like Quickbooks® and Quicken®.
Download transactions direct into the software. Bank reconciliations can be performed frequently, instead of monthly.
5. Bank Statements and cancelled checks available in PDF form.
No paper statements and checks to file (or lose). E-statements and e-checks are acceptable to the taxing authorities as proof of payment.
6. Deposit Scanned Checks.
Bank apps allow immediate depositing of checks, so no trips to the bank are necessary. Physical check is retained for filing purposes if needed.
7. Online banks offer better interest rates
8. More details are available.
Zoom into each transaction to see check copies, deposit slips, etc.
9. Free checking.
Most major banks offer free checking if you have direct payroll deposit and paperless options.
10. Email and text alerts.
Preferences can be set to receive various alerts if certain conditions occur, i.e. low or overdrawn bank balance.