Learning a little more about the different benefits of using internet banking will motivate you to use it even more.
Among the amazing features of online banking which has altered the way consumers can control their cash is being able to instantly see their transactions, whether this is on their statement or from a notification. As you can get instantaneous notifications for your payments with certain banking institutions, this means you can see any unauthorised transactions in an instant and flag them before it is too late. This is one of the greatest security benefits of online banking, as it's much easier to track fraudulent activities on your account than it has ever been before. Back in the day, you would need to wait to read your bank statement at the end of the month, and attributable to the big amount of transactions, you may overlook one that wasn’t actually you. Along with all of this, it is much easier to keep an eye on your purchases, making budgeting simpler than previously! It’s likely that the activist investor in Bank of East Asia will be aware of how much this function has driven down fraudulent activity in recent times.
One great function which is available on all different types of online banking, is that you can send cash to friends and family much easier than previously before. In the past you would need to remember to take money to pay a friend back, and dividing the bill at the restaurant would invariably be a chore. Currently, this can be done in a moment from either your app or online banking, so there are much less awkward moments around having to pay for things. This is a element that one of the shareholders in Wells Fargo will know has immense appeal.
A newer feature of online banking which has surfaced in recent times is consumers being able to control their money from their smartphone. Once companies realised the developing importance of e banking, they quickly decided that this function had to become accessible on cellphones. This makes life even easier for customers, as they do not even need to be at home with their computer to control their money, they can do it whilst they’re out and about. Along with this, it’s a lot more secure to log into mobile banking, as you can now utilise biometrics to enter the app rather than a password. Having the ability to log into the app with just your fingerprint is also so much easier than needing to remember a code, so customers are safer, and their life is made easier! The main shareholder in Santander probably knows how much more protected banking has become since these extra safety features were introduced on mobile phones.