There’s no denying the fact that online banking continues to grow by leaps and bounds. And for this reason, it may be something that you look into in the near future. If you’re ready to head down this path, here are some questions to answer:
- Do you have any experience with online banking?
- What are you looking to accomplish by opening an online account?
- What features are most important to you?
The third question is the one that we’ll focus on in this article. Here are four features to look for in an online bank.
1. Safety and security
There’s nothing more important than safety and security when choosing an online bank. There’s never a good time to take a risk with your personal and financial information, so learn more about this before creating an account.
2. Online bill pay
This allows you to pay your bills directly from your checking account, without the need to write a paper check. Not only is it convenient, but it also saves you time and money.
Even if you don’t use online bill pay now, you may change your mind down the road. It’s nice to have this feature available to you.
3. Powerful, easy to use app
Most people who bank online find that they do so both on their mobile device and desktop computer. A powerful, easy to use app will allow you to manage your account from the palm of your hand. And best yet, you can do so from anywhere you have an internet connection.
Almost every online bank in today’s industry has an online app, but some are better than others. Read reviews so that you know what you’re getting with each bank you’re considering.
4. Account alerts and reminders
Account alerts go a long way in keeping you informed as to what’s happening with your account. For instance, you can set alerts for when you receive a direct deposit or when a check is cashed.
Reminders are just as valuable, as these can keep you up to speed on things such as when a bill is due.
While these are far from the only features to look for in an online bank, they’re a good starting point. By comparing three to five lenders, you’ll come to a conclusion as to which one most closely aligns with your wants and needs.
Do you have any experience with online banking? What features did you focus on when choosing a bank?