Online banking is a great way to keep track of your finances. It can be accessed on your computer or mobile device, and it can be used for many of the same tasks that you’d normally use a branch for.
In addition, it can also be used to make bill payments. Many banks allow you to set up a monthly automatic payment. This is especially useful if you have a recurring expense.
Another way to use online banking is to check your balance and see what’s going on. You can view your account history, look at your statements, and even set up an alert to notify you when your account is nearing a deficit or overdraft.
One of the best features of online banking is the ease with which you can transfer funds between accounts. Some online banks even offer free peer-to-peer transfers. These are a good way to avoid paying fees.
Other benefits of online banking include the ease of keeping up with your bills. Most online banks allow you to set up automatic bill pay. For example, you can have your Internet provider, cell phone company, and other bills automatically paid from your account.
Keeping your money in a digital format can help you learn to manage it better. Mobile banking apps provide easy access to your finances, and can even help you keep track of your spending habits.
Using the internet to send money to friends and family is a good idea. A service like Zelle allows you to send money instantly from your smartphone.