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By Mirlene

The safe and beneficial side of online banking

I have been stashing my money in the bank since I started working as a teenager. I knew that financial security was a must, and "seeing" my money whenever I wanted to was an even greater deal. Depending on the job I've held, I went from going to the banks every Friday to every other Friday. The process was always the same; I'll fill out a piece of paper asking me for my identification, account number and, most of all, the amount I would like to deposit or withdraw. There are days I dreaded going to the bank, standing in line just so I could be "helped" and having to do that each week was just daunting to me.

As technology evolved, I fell in love with online banking. Some may call it virtual banking, internet banking or e-banking; however one may choose to call it, I fell in love with it. It is an electronic payment system that enables customers of a particular bank or credit union conduct a variety of financial transactions through the financial institution's website. As time went on, it became more apparent that I do not like physical banks. I believe some of the biggest, most well-known banks in America are the most dishonest. My personal choice has been credit unions. I find that credit unions care about the people they service. I like the fact that my account is insured up to $250,000 if something should happen to the credit union. Insurance is not the only benefit to online banking with a credit union. Additionally, I like the fact that other benefits such as permanent access to the bank, lower transaction costs and being able to access it anywhere is possible with internet connection.

With online banking, I have a greater way of handling my money. I can move money around from various accounts with the same financial institutions or at different institutions. I can write checks freely without having to waiting to double-check the books. I can see exactly how much money I have in the checking account by simply logging into the institution's website. I also like the fact that online banking allows me to schedule when I need to pay my bills.

I find online banking to be a safe way of banking. However, it is advised that mobile banking is a better method of banking. Hackers are less likely to hack mobile bank customers due to the wide range of security is provides. If my mobile device is lost, my personal information is password-protected and secured by other identity confirmations. Not to mention, I can disable my phone remotely. Another great benefit is that mobile banking is completely free. Be aware that most mobile banking functions are basic. My preference is always online banking or even mobile banking. I like the freedom it provides to have complete control of your finances and how it's handled.

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