With the advent of the internet, everything has transformed into its electronic version. Banking is not far behind. Now when people have access to all kinds of gadgets like laptops, phones, tablets – banking is just one click away from making financial transactions!
The biggest advantage of internet banking is the convenience. It is much better than physically going to the bank in many ways:
You can make a transaction from anywhere – you need not actually go to a bank counter – you have access from home, work or even when you are on a holiday
You can make a transaction at any time – you need not abide by the working hours of the bank. You need not even worry about Sundays or other holidays – your account is accessible 24×7.
You can use any device with internet access for your bank activities – phones, laptops, desktops, tablets – anything.
Banks offer a wide range of services – payment of bills, transfer of money, checking account transactions via the internet.
All the transactions are automatically updated immediately;therefore you always have access to your information without submitting any slips or documents. Thus your account is always up-to-date without any discrepancies since the process is completely automated
The best part about internet banking is that you can keep track of all your different accounts simultaneously. In case you have multiple accounts, you need not go to different branches of your bank. This saves a lot of time.
An online bank account is very easy to create. All you need to do is request your bank to create an online account for you. These days when you open a new account, your login details are sent along with the welcome kit itself. Application for loan, new accounts, trading accounts or requests for new cheque books can also be done online.
Bill payment is one of star features of internet banking. Every bill, be it groceries, mobile phone, electricity, shopping – can be paid instantaneously using online banking. You need never step out of the house to different stores to pay each bill. This also cuts down the time you spend standing in queues for bill payment. One important advantage is that you can pay your credit card bill online, be it weekend or holiday time – this ensures that you never incur the heavy penalties of not paying the bill on time.
You can transfer money online directly to another account – your own or anyone else’s. This is a major advantage as you can divert money quickly to wherever you want it for e.g. to your child’s or parent’s account in case of need. Also, many people have funds getting credited from their account to various funds and policies. Money can be transferred to these accounts immediately, so that there is no default of payment for your insurance covers.
You always get updates and notifications about any activity in your account. Not only is this useful to keep track of all the transactions and the new offers from the banks, it can also instantly alert you to any unauthorised or fraudulent activity. This can protect you from great damage, since you can also stop the payment immediately from anytime, anywhere.
Internet banking is simple, easy and the most convenient way to keep track of all the transactions on all your bank accounts.