Young Adults Can Use Online Banking

Tuesday, September 1, 2015, 6:00 AM | Leave Comment

The younger generation is used to different kinds of electronic gadgets, a lot more than my generation of 40 years or older. With cell phones, iPads and the like, they can access almost anyone of their friends and families 24 hours a day 7 days a week.

They seem to be using these gadgets almost all the time including sending and receiving texts. But one thing may be missing from their usage of these gadgets – Electronic Banking.

Young Adults Can Use Online Banking

Well, come to think of it, the 40-plus humans may be missing on it too.

Most of us know about ATM and we all use it on occasions when we need the money. For many, electronic banking is just that – using ATM. But technology has advanced many folds the last ten years or so.

We can use a lot of different gadgets and software for our own benefit and convenience without incurring extra charges. We already pay an arm and leg to the communication and phone giants of the world.

Use the following at your own convenience whenever you see fit:

  • Online Banking

    You can do many things with online banking. You can transfer money between your accounts at the same bank as well as to another bank and view account information, deposits, withdrawals and loans at any time day and night.

  • Online bill paying

    This is probably the most convenient way of online banking you can use. You can pay monthly and one-time bills over the Internet. Some banks offer electronic online bill payment free of charge, others charge a fee that is usually less than what you would spend on postage. I stopped writing checks and mailing them almost 10 years ago.

    I have two accounts. One to save my money and another bill-paying account. Once a month I transfer money to my bill-paying account which collects dust every month. I mean that’s a no-interest, no maintenance fee account. It’s a 55-plus account. Certified checks etc. from the bank are free in this account. The bill-paying service is free. The minimum requirement is $100 all the time.

  • Debit cards

    I have included mentioning debit cards here. It’s convenient and you can use it 24/7. However, you have to be very careful. You must check your checking account online if you have enough money to cover your purchase. Otherwise, you would be hit with a hefty fee for lack of enough fund.

  • Direct deposit

    Direct deposit enables your paycheck and certain other payments to be transmitted automatically to your bank account. It is free and is fast. Talk to your employer how to go about it. This is one important way to save before you spend.

  • Phone banking

    You talk on your cell phone all the time. Sometimes you over-talk and the company charges you extra money. Why not talk to your bank. It can provide you access to your checking account via phone. You can confirm that a check or deposit has cleared, get your latest balance, transfer money between separate accounts at the same bank, and obtain details about services.

In a Nutshell
There you have it. Your banking can be so much more convenient and easier to monitor when you have access to your accounts 24 hours a day, seven days a week, from your home or practically anywhere else.

Not only monitor, but you can control your spending as well. Check your local bank. These services might be available free to you.

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