What are the benefits of online banking?

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Good morning, everybody! I would like to think I am relatively tech-savvy; however, I have never tried out online banking. Is it worth all the hype? For example, are there any benefits I would receive from using online banking that traditional banking might not be able to offer me?

Answers

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Online banking, also referred to as ‘digital banking’ and ‘internet banking’, allows you to view and manage your business and/or personal bank account online, 24 hours a day, 365 days a year from any computer device with an internet connection. Almost all bank accounts provide online banking services for carrying out the following types of tasks:

  • Viewing bank account balances
  • Viewing recent and pending transactions
  • Transferring money between your own accounts
  • Transferring money to other people or businesses
  • Transferring money overseas
  • Paying bills
  • Setting up, amending and cancelling direct debits
  • Setting up, amending and cancelling standing orders
  • Viewing and downloading bank account statements
  • Updating address and contact details
  • Requesting a new overdraft or amending a current overdraft limit
  • Ordering travel money
  • Reporting your bank card lost or stolen
  • Viewing your credit card and mortgage details (if you have any such accounts with the same bank)
  • Setting up savings accounts
  • Receiving notification of charges, fees and account changes
  • Request a new PIN

Online banking is incredibly secure and convenient. Your account can only be accessed by entering a username and password that only you will know. You can set up online banking in your local branch, over the phone or online. If you need help and assistance, your bank will be able to help you.

a year ago
 

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