Facts About Internet Banking

Banking has evolved with the rise in Internet usage because it is more convenient to manage bank accounts online. Bank customers have the option to set up an account with an online only bank or a local bank that offers online services.

• Online bill pay is available with
  all major financial institutions. You can save money using Internet
  banking because you do not use gas to drive to the bank or postage
  to send a check.


• A study conducted by American
  Banker Association in August, 2011, older bank customers age 50 and
  over prefer to handle banking transactions online over any other
  method.


• There are fewer fees associated
  with online banking.


• Some bank customers are afraid of
  using Internet banking because of security concerns.


• Internet banking allows customers
  to closely tracking their account balances and banking transactions.


• Internet banking allows bank
  customers to transfer funds from savings to checking to avoid
  overdraft fees.


• Internet banking allows you to set
  up automatic withdraw payments for paying monthly bills.


• Internet banking allows bank
  customers 24-hour access to accounts.


• Bank customers using Internet
  banking are helping save the environment because thousands of tons
  of paper are not required.


• Banks that offer online banking
  spend less money on staffing and require less branch offices.


• Customers, who use Internet
  banking to pay their regular bills, trust their bank more than
  customers who do not.


• Many employers prefer to use
  direct deposit for payroll to reduce the company's costs.


• Online only banks can charge lower
  fees than traditional banks.