Benefits of online banking

Discussion in 'Growing and Managing a Business' started by rillida, Dec 14, 2009.

  1. rillida

    rillida
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    Hi

    *
    Hi

    All the major banks offer online banking. Online banking can provide a more efficient way of managing your bank accounts. You can:

    * check your balances and view statements online
    * move money between accounts
    * make payments to suppliers
    * set up regular payments such as salaries
    * order chequebooks and statements
    * download account information to analyse on your computer

    Online banking can be very cost-effective. Charges are often lower than for ordinary accounts and accounts may offer higher interest rates. Banks usually offer online banking services at no extra cost.

    Larger businesses may also be offered 'PC banking'. This requires the installation of special banking software on the computer you use to manage your account. It can offer a more effective solution if you have a large volume of banking transactions and directly link your accounting systems to your bank.

    Keep sharing and reading

    Thanks
     
  2. GekiDan

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    Welcome to BAF and great info there rillida.
    For me, I only use the online banking connected to my debit card is to check my balance everytime I made a withdrawal on Paypal. I rarely use it to pay anyone.
     
  3. Fergal

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    I use online banking to check my balances, look through my statements and to transfer money. Personally I find it very convenient.
     
  4. ionsysproject3

    ionsysproject3
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    it's great tip man i've not thought of it before i saw your post. thanks.

    well, Banking is booming now-a-days, every one is using internet for marketing their products , website etc
    http://www.schufafreies-bankkonto.de
     
  5. augest

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    I don't use online banking to check my balances. Oneline banking does make the business more effective. Thanks for your information. Learnt a lot:)
     
  6. Alexishost

    Alexishost
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    hello...

    We hire partner to do online banking.
     
  7. GekiDan

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    Well, I don't agree since it makes checking balances will make it much easier when we do online banking.
     
  8. chris34

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    Hi

    Online banking is becoming much more common. You can pay your bills online and access a record of your checking account transactions online. Online banking is a great feature, and most banks do offer it. Online banking makes everything you do with your finances a bit easier. You can access the information anywhere that you have access to the Internet. It makes your financial life much easier to manage.

    Pay Your Bills Online : You can use online banking to pay your bills. This will eliminate the need for stamps and protect yourself from the check being lost in the mail. Most banks will have a section in which you set up payees. You will need to fill out the information once, and then you can simply choose that profile every time you pay a bill online. If your bank will not pay bills online you may consider paying online through the company. Be careful since some of these companies may charge a convenience fee

    Thanks
    Have a nice time ahead.
     
  9. noeal11

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    yeah now a days online banking is more used.., but i heard that online banking is not secure.....your account numbers and password can be hacked by the hackers.., how far it is safe and true that online banking is not secure???
     
  10. Fergal

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    You can take precautions to protect yourself from online banking fraud. Be careful to chose a difficult password (preferably one with both upper and lower case letters, numbers and symbols), don't disclose your password to anyone and do not give your personal access details to anyone else. Wells Fargo provide some good tips here, that can help to keep you safe - the tips are given for Wells Fargo customers but are applicable to all online banking customers.
     
  11. mv5869

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    I've always used online banking since i could. What a hassle to have to go into a branch now.

    Smile and FirstDirect are two of the best in the UK.

    To be honest online banking is about as secure as it gets, so long as you take sensible precautions like not leaving your password lying around, not opening "phishing" emails and so on.

    One thing people often don't consider is that walking to and from a real bank with money stuffed in your pockets isnt particularly secure either.

    :D
     
  12. Fergal

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    Good point. Using ATM machines also has some risk arising from the prevalence of skimming machines that capture your card and PIN details so that the fraudsters can clear out your account.
     
  13. mggc

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    Hi rillida,

    I also do online banking, like check my balances and purchasing something online. I can also use it to transfer money overseas. Online banking is good for me.

    But just like Fergal posted, it is also very wise to protect yourself from online banking frauds.

    Thanks for sharing this with us. :)
     
  14. DEADMAN

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    I've been recently looking in Nepal if any bank holds Online banking.

    Online Banking is very worth for every kinds of online payments. I believe I need this very soon.
     
  15. PneumaticTubes

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    It is really a convenient way to use online banking.
    We just need to be sure that all things are secured when doing banking online.
     
  16. ethan1066

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    reply

    i like this article on online banking ..definitely online banking is the new trend and followed by the most of the banks today ....online banking has provide us the great comfort and the security definitely the major thing is the software they use and which have made all this possible..if we say that online banking is the most convenient way of banking then we must say thanks to these software which have made all this possible for us...
     
  17. calebtheslacker

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    I do a lot with online banking, but just like using Quickens and such, if you don't keep track of what you are spending and earning, you can still go under. This past month I learned that the hard way! I bought a purchase that didn't show up in the "pending transactions" like it normally would, and I thought it already went through and I accidentally went into the red. And because I use a debit card, I started buying dollar purchases for lunch snacks for a week thinking I had some money, and then I learned I was $200 in debt! $30 an overdraft fee each time.

    So just a reminder to everyone. The records are accurate and VERY convenient with online banking. But it still isn't exact since some companies can be slow about depositing their money.
     
  18. anatomymodel

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    It`s more convenient
     
  19. homesecurity

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    You don't have to wait in line.
    You don't have to plan your day around the bank's hours.
    You can look at your balance whenever you want, not just when you get a statement
     
  20. solagracia77

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    I always use online banking, just make sure your computer are very secure.
    Be very careful when using wireless connection, esp out sie home/without encryption like in coffee shop, airport, etc. Never ever use login password to sensitive information.
     

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