When looking at internet banking, it is exciting to see just how far this technology and service has come. Today, the features associated with online banking are diverse, some basic and some more robust. It is important to understand that while online banks offer much the same types of features, there are variances. In this article, we wanted to provide information on internet banking service features, showing you what you would expect from one bank to another, as well as more individualized features available.
For starters, the common types of features you would expect to find with internet banking regardless of the financial institution are broken down into specific categories. As an example, within the “non-transactional” category would be online chatting with a representative of the institution, check links, online statements, etc. Another category is “financial institution administration”, which includes any type of customer support based on different levels of authority depending on the type and complexity of the problem. Then, “wire transfer” and “transaction approval process” are common to the approval and process of making transactions such as wiring money.
For the “transactional” category, you would see features such as investments, whether for purchases or sales, loan applications that would cover mortgage, car, boat, personal, etc, and funds transfer that allows you to move money between an established checking and savings account. The way systems are today, you could pay a loan payment or transfer money any time day or night. All processes offered online have been enhanced so they are more flexible but also much faster. As an example, if you needed a copy of your bank statement had to move money from savings into your checking account, or you need to make a payment at 3:00 am, you could complete all these processes within minutes.
Other features that people love about internet banking include the ability to view not just balances but also all transactions for a checking and savings account, as well as real photos of checks. You would also have the chance to receive alerts via text message or email whenever your checking account reaches a set dollar amount determined by you. With that, you would have the ability to move money from your savings instantly to cover any outstanding checks or ACH payments. Breeze by Standard Chartered is a very innovative leader in provider its customer base with the latest in technology and security
One of the most beneficial features of internet banking is the ability to export checking, savings, or both account history to Microsoft Money, Quicken, or QuickBooks Pro. With this, the need to input data manually that already exists online is eliminated. Instead, with a few clicks, all the information is transferred, making it easy to manage your finances more effectively. In addition, exporting the data makes it much easier to prepare for tax time.
Whether needing to inquire about a specific share, loan, or certificate, perform a transfer of funds, look at statement history, or set up recurring payments to make payments online, internet banking offers it all plus more. Remember, in addition to benefiting from features of internet banking through actual banks, credit unions are also included. In fact, sometimes credit unions offer lower fees and better interest rates so again, spending time to look at a variety of options would make it possible for the best internet banking solution to be chosen.