Most banks and credit unions today offer their customers the option of accessing their accounts on line. If you have not set up your current checking account for on-line banking what you are you waiting for? Most people find online checking and banking to fit most of their banking needs. Here is a look at the pros and cons.
Pros of Online Checking
- You will have access to your account information 24 hours a day 7 days a week.
- No matter where you are, as long as you have internet access you can log onto your checking account using your bank or credit unions secure website.
- Most times when you perform on line checking transactions, they are processed quicker than those at the atm.
- You will be able to not only manage your checking account on line, but also access all of your other accounts you have with your bank including checking, savings, CD’s, IRA’s and more.
- You can use on line bill pay to pay your bills directly from your checking account.
- Directly from your on line checking account you can import data into a personal finance program like Quicken or Microsoft money.
- You can view your current checking account balance and transfer money between your different accounts.
- You can easily track expenses.
- Using on line checking is a time saver. There is no more waiting in line at your local bank to have access to your account.
- You will notice fraudulent activity sooner, rather than later.
Cons of Online Checking:
- It may take you some time to navigate and learn your banks on line site. Initially it could take you some time to learn how the site works and how to manage your on-line account.
- You will still have to visit your local bank to make deposits. Of course any direct deposits you have set up will show up automatically.
- You will, like with all advances in technology lose some of your human contact.
Many people additionally tend to worry about how secure on-line checking and banking really is. For the most part you can be assured your money is 100% safe. Of course there are some precautions that you can take to ensure that your money is always protected. First, make sure that you check your account on a regular basis, at least once a week. Never, under any circumstance provide any of your on line banking information in an email or a chat room on line. Also, it is never a good idea to access your account and make transactions from a cyber café or other public Wi-Fi areas. If you expect any fraudulent activity do not wait, immediately contact your bank or credit union and report it. Finally, make sure that your computer is always protected with the use of a good antivirus program.
The best way to find out if on line checking is right for you is to open your on-line account and give it a try. You really have nothing to lose.
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