The COVID-19 pandemic fast-tracked a growing trend among Americans: digital banking solutions. Many switched to online banking or mobile apps to maintain account access at home. If you have yet to fully take advantage of the convenience and security of digital banking, below are some compelling reasons to do so.
Top 3 reasons to embrace digital banking
Convenience is the obvious reason to use this method of banking. Skip the commute to your local branch and instead use your device wherever you are. From transferring funds from a checking account to making a loan payment, you can bank with a few taps.
Digital banking also streamlines day-to-day life.. Instead of logging in to multiple websites to take care of your utility bills and other monthly expenses, you can set up your payments through a bill pay service to consolidate and save yourself time. Plus, set up automatic payments to avoid late payments that could potentially impact your credit score.
There are signs your bank or credit union uses industry-standard security for online banking and mobile app account access. One is two-factor authentication – this and other layers of security keep criminals out. Plus, the use of online and mobile banking can curtail fraud in other ways. Paper statements sent via the mail can be stolen, whereas eStatements are housed safely on your device behind a login.
Of course, there are things you can and should do to boost the security of your information like avoid connecting to public Wifi and don’t sharepersonal or banking information with anyone. Check out these seven tools that will increase security over your accounts.
Almost everyone has an electronic device capable of accessing these digital banking solutions. Whether it’s a phone, tablet, or computer, you already have the technology to bank on your schedule.
This accessibility will also help you safeguard your money. With accounts at your fingertips, you can review your transaction history as much as you want. This will help you spot and report fraudulent activity faster.