I could not imagine doing business without internet banking
It’s safe and secure, all the different accounts belonging to the individual or business can be viewed within one page.
With business accounts different members of staff can have access with their own login details and be given different levels of authority/viewing access to all the accounts. When bill payments need to be made, an electronic batch can be produced from the bookkeeping software and uploaded to the business account for one bulk payout. Banks can provide a small electronic gadget for producing unique pin numbers which have to be entered into the account before payments are processed; a good security measure.
And of course, for people on the go mobile banking is available for mobile phones, i-pads etc.
There are several ways of reducing bank fees with internet banking, and on personal accounts having no fees at all by:-
- stopping paper statements – it is easy to select a time frame and print the transactions for that time; some banks provide online statements, just click and download,
- paying all bills online by direct credit instead of cheque, and
- encouraging customers to pay by direct credit because cheque/cash deposits incur fees when they have to be processed by a member of staff at the bank.
The business section of banks usually also provide loads of information for small businesses to help them get set up and running properly.
I also could not imagine maintaining the household banking and budget without online banking where I can view our daily transaction accounts, savings accounts, credit card accounts and home loan accounts, all in one place. It’s quick to login and move funds around from one account to another as needed.