How To Manage Your Money More Securely
Internet banking is a huge step forward in terms of convenience and safety in the banking world. Most banks have website and most of these web sites have areas for online banking customers. Though it cannot take care of every type of transaction for you, it does provide a great deal of ease for tedious tasks that would require you to go to the bank frequently. These sites are safe as long as you keep your information private. It is easy to set up; just follow the prompts on the site.
Of course, once you sign up it is not immediate. Part of the safety protocol requires them to verify your bank account and who you say you are. One standard method of doing this is for the bank to put a few cents in your account. You go to the bank with documentation to prove your identity. A teller will inform you to the exact amount that has been placed in. You go back home, go online, and enter that amount when they ask you for verification.
Though you cannot use online banking to put in or withdraw cash, you will find it can save you a lot of time. Mostly it is used to monitor your transactions and balance your checkbook. Before this came about, people just had to wait until their monthly statements were mailed to them and then slog through a month's worth of receipts and records to make sure everything matches. The only other option was to constantly go to the bank to ask if checks had cleared or ask for your current balance.
Bills can be paid through this site, since most major companies (especially for utilities, credit cards, and cable) have similar online areas for bill payment. In this way, you can pay the bill knowing for certain that you have enough money. You will also never worry about the mail being delayed or lost.
All of your bank accounts can be linked under one profile so you have an easy screen to manage all of your money. You can transfer amounts in between accounts and see your history for up to thirty days previous. Beyond that date you would have to go into the bank.
Since you are capable of viewing your transactions every day, it really increases the chances of fraud reduction. People no longer will forget if they have written a check or not, or find out three weeks later that they have been ripped off. If you see a check of yours was cashed yesterday, you will have a much higher chance of recognizing if it was actually written by you and catching the person who cashed it.
It helps because they photocopy the fronts of the checks and post them online under a check number link. You can see if it is even your hand writing. This is something they would normally have to print out for you at a bank, but here it is all at your fingertips.
There are tons of different preferences and options to take care of your money and give you a little ease in time. You have the option to stop payment on a check. Most sites also give you tips to avoid fraud.
Of course, once you sign up it is not immediate. Part of the safety protocol requires them to verify your bank account and who you say you are. One standard method of doing this is for the bank to put a few cents in your account. You go to the bank with documentation to prove your identity. A teller will inform you to the exact amount that has been placed in. You go back home, go online, and enter that amount when they ask you for verification.
Though you cannot use online banking to put in or withdraw cash, you will find it can save you a lot of time. Mostly it is used to monitor your transactions and balance your checkbook. Before this came about, people just had to wait until their monthly statements were mailed to them and then slog through a month's worth of receipts and records to make sure everything matches. The only other option was to constantly go to the bank to ask if checks had cleared or ask for your current balance.
Bills can be paid through this site, since most major companies (especially for utilities, credit cards, and cable) have similar online areas for bill payment. In this way, you can pay the bill knowing for certain that you have enough money. You will also never worry about the mail being delayed or lost.
All of your bank accounts can be linked under one profile so you have an easy screen to manage all of your money. You can transfer amounts in between accounts and see your history for up to thirty days previous. Beyond that date you would have to go into the bank.
Since you are capable of viewing your transactions every day, it really increases the chances of fraud reduction. People no longer will forget if they have written a check or not, or find out three weeks later that they have been ripped off. If you see a check of yours was cashed yesterday, you will have a much higher chance of recognizing if it was actually written by you and catching the person who cashed it.
It helps because they photocopy the fronts of the checks and post them online under a check number link. You can see if it is even your hand writing. This is something they would normally have to print out for you at a bank, but here it is all at your fingertips.
There are tons of different preferences and options to take care of your money and give you a little ease in time. You have the option to stop payment on a check. Most sites also give you tips to avoid fraud.
Source...