Keeping track of your money might be easier than you think. This is because online banking offers all the same services as traditional banks, plus many more.
For example, customers can check their account balances, move money between accounts, pay bills, and do a lot more with online banking. Because online banking is so easy to use, it can also help you get your finances in order. This is how:
Get rid of the mess and help save the environment.
If you pay (and get) your bills online, you can get rid of the paper, envelopes, and stamps you don't need. Online, you can also look at pictures of your paid checks and account statements.
&8226; Make your life on the Web easier: Instead of going from site to site to view and pay your bills, you can do it all on your bank's website. This will save you from having to remember multiple log-ins and passwords.
• It's easy to keep track of your accounts. You can choose to get e-mail alerts when bills are due, checks are paid, deposits clear, your account reaches a certain limit, and more. Alerts also keep you up to date on recent account activity, which can help you find and stop fraud.
Reduce your chances of being a victim of fraud. A study by Javelin Strategy & Research, which came out in January 2006, shows that Internet-related fraud is less severe, less expensive, and less common than theft caught offline because of online account monitoring.
Manage your investments. Use online tools and resources to help you invest and build your portfolio. You can also see how your money for retirement grows and decide how to invest it.
Even if you're not a customer, some banking sites go the extra mile to help you. This is because these sites are great "at your fingertips" resources for things like current interest rates, how to keep your accounts safe, and tips for retirement.
One site, wellsfargo.com, gives its customers an extra service called "My Spending Report." This expense management tool gives customers a "big picture" view of their spending by putting all of their payments and purchases from credit cards, check cards, checking accounts, and online bill payments in one place. My Spending Report automatically sorts these costs into 19 categories, such as gas, groceries, health care, and entertainment.
