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Banking Today
By Jeff Lakie
With the ease of online banking today, many people choose to do their
banking from home. One bonus is that you can continue banking with
the same financial institution, though you can do so from your home
computer. With 24-hour access to account information and anytime
transactions, banking has become much more convenient.
There are many benefits to online banking. You can avoid fees
sometimes charged for teller transactions or check writing. Also, online
banking options often include better deals on checking accounts, often
with lower service fees and no monthly charges. It is easy to pay bills
electronically, with funds taken directly from your account-check-free.
And banking software, such as Quicken, enables you to download
banking information from your account into a budget spreadsheet.
Most banks in America now offer online banking options. Some banks
offer online banking in conjunction with online trading, allowing you to
use one institution for a variety of financial needs. There are some
institutions that specialize only in online banking and do not have any
physical branches. These require online or phone transactions and the
use of other banks' ATMs.
This is one downfall of virtual banking. You may have to pay a fee for
using a machine at another banking institution, and sometimes a fee
from your own bank as well. Some banking institutions will waive
ATM fees, as they know this can be a deterrent to potential
customers. If you are an ATM user, make sure you research this
before selecting a bank.
Another likely problem is making deposits. Direct-deposit options for
paychecks are convenient; however, if you receive other checks you
will need to deposit them yourself. With online banking, you may have
to mail your deposit or make an electronic transfer from another bank
account. This creates a longer lapse before you can access these
funds.
Despite these issues, online banking appeals to many customers.
Virtual banking allows you to take care of bills even while traveling.
You can access your account whenever it is convenient to you, not just
during banking hours. With this convenience, there is little excuse
anymore for bounced checks.
About the Author
Jeff Lakie is the founder of Banking Resources a website providing information on banking
Article Source: http://www.simplysearch4it.com/article/9540.html
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