Do you remember the last time you visited a bank?
Or even the nearest ATM to withdraw some cash for your expenses? Right from making payments to transferring money across banking networks, everything is now just a button away! With the advent of newer technologies attempting to change the banking system, the need for us to visit any bank has obviously become much lesser than what it was before. Also, do you miss those long queues at the bank, just waiting to make a deposit?
Well, that should remind you the hassle of visiting the bank each time. Due to the digitization that has literally taken over the world over the years, the banking sector obviously couldn’t be let far behind. To think about it, online banking has made life easier, in more ways than just one. And people simply do not seem to get over it anytime soon.
From finance apps on your mobile device to booking your cab, online banking has introduced itself as a boon to the mankind in several ways.
Here’s a little more insight into how online banking has incessantly become popular over the years, and why you, me and many others mustutilize this privilege to its fullest!
#1.Long line alert!
Those long queues at the bank were always a scary thing for me to deal with, always. That was the only important thing for me to avoid at a bank. Yet that was something that couldn’t have been avoided back then. Then entered the online banking system! The unimaginable convenience of sitting right at your home and making money transfers and online payments just at the click of a button is truly one of the most feasible things one could ask for.
#2. Better financial management
Remember that thing about managing your finances? If no, then online banking might as well just remind you of it. The internet is great when it comes to making investments on assets, properties, mutual funds, you name it. The ability of online banking to help customers track stock market fluctuations and investing in shares and mutual funds, online banking has undoubtedly led us toward a much stable, better and integrated financial and investment management.
#3. Juggle with your monthly payments
Yes, everyone needs to pay their monthly bills, be it for grocery shopping, gym membership, telephone bills, etc. Online banking actually allows you to play around with multiple accounts and ease out multiple bill payments for you. Paying bills has never been this easy, thanks to the advent of online banking. Because paying your bills manually at the end of the month could prove to be quite a hassle, you must definitely give online banking a try if you haven’t yet!
#4. Save paper and you!!
Did you know that online banking actually contributes to environment welfare by saving paper?! Apart from easing things out for you, the generation of electronic statements through online banking has led to a reduction in paper wastage that goes into printing an ‘n’ number of monthly statements for customers. Your mailboxes don’t need to be clustered with monthly account statements from your bank. Instead, you can focus on getting all your management tasks and financial records right under one roof, that is, our electronic statement.
#5. Transfer funds in a jiffy
You can now transfer money with a speed as quick as lightning. It is quite surprising how transferring money has become so much easier and simpler over the past few decades. You need to have your online bank account open, click a button, and the money is transferred to the receiver in the blink of an eye. How cool is that!
#6. Plethora of services
To uphold their status and reputation in the online banking sector, there has been a stiff competition amongst banks in offering outstanding services to their customers. Some banks have gone out of their way to offer value-added services to enhance the online banking experience of customers. Online banking has obliterated our need to visit the bank for literally anything! Have you ever visited the bank for any of the following tasks?-
- Get a loan on your card
- Apply for an additional card
- Request a credit line increase
- Report lost card
If yes, then online banking surely has made you leave a sigh of relief. Not just these, you are open to practically do anything when it comes to online banking.
#7. Don’t you just love shopping?
Who doesn’t love to shop around a bit? Or even travel around places? Or visit lavish restaurants and have some good food? Online banking has made it all very achievable and simpler for us, also giving us this really comfortable lifestyle that we are leading right now. Right from shopping stores to booking your evening movie tickets, online banking has made purchases a breeze!
This was just a glimpse. The world of online banking is vaster than we can ever think of! In a lot of ways, online banking has made our lives easier and opened its doors for us to go ahead with more transactions with digital money. Overall, with online banking, you can spend more time into doing the things that you actually like, making life even more amazing than what it was!
This is a guest post by James. He is a finance blogger and writes about personal finance tips and everything about money management.