The Future Of Banking - Bank Online
It’s likely that your bank is a virtual place. Because the invention of the web you can view your balances anywhere, anytime. Most banks think globally and also have acted this way by creating secure portals to control their account holder's information stored in their databases. These details stored usually shows account balances, previous transactions, current balances, interest paid and electronic scans with their checks. Anywhere you can reach a computer, your money is right in the hands, usually in real-time.
Some banks even give a service where you pays your bills online vis-à-vis a bank checking account or saving account. You may setup creditors accounts, addresses and account numbers to be printed from each check shipped. There are even some banks that will electronically send the check right to their take into account a nominal fee. Most electronic banking can be free depending on minimum account requirements are met. Otherwise, electronic banking can cost up to $10 monthly for the convenience to send money and manage your account via the net.
Inside our move towards a paperless society, banks have begun to avoid shipping back cleared checks with their members. These cleared checks are available on the web and printed out as long as they need usage of these records. Some banks will not ship their monthly statements as they too can be printed out on the net as well.
Interest bearing accounts
Some checking accounts, savings accounts and IRA's can be managed via the web. Members can move money between accounts and add money with their savings accounts electronically without ever visiting a teller or the neighborhood branch.
One of the biggest conveniences has been in a position to reconcile your accounts with the favorite personal finance software. Banks have ways to make files that may be imported into these software products so that balancing the account is performed to them with little intervention. The net makes it very helpful in the event you forget to record items into the register and can do everything for you with a couple of clicks of the mouse.