Banking used to be associated with standing in line in a financial institution’s lobby and making small talk with a teller while they deposited your check or withdrew money from your account. In the 21st century, though, financial institutions also offer online banking platforms as a new way to manage your finances. While in-person banking will always have a place, online banking has some advantage that makes managing your money a lot easier.
Advantage 1: Access Your Account at Any Time
The most obvious advantage of online banking is that you don’t need to visit the branch of a bank or credit union to access your account. Just log into the online banking platform (or use the mobile app if they have one), and you’ll be able to access all the accounts you have with your financial institution.
It’s hard to overstate how useful this is. Having your most current account information in front of you can be a huge help when creating and reviewing your budget, but it’s also useful when you want to set a financial goal, like making a major purchase or going on a long vacation. You can also make sure a bill has been paid or just make sure you have enough money in your account to go have lunch with your friends.
continue reading »