Gone are the days when we had to call the bank or wait for our monthly statement to come in the mail so that we could reconcile our checkbooks. A surprise that no one likes to get is an envelope with an overdraft notice enclosed, with that nice little fee (not!) taken from our account, which in turn made other checks bounce, and of course this doesnít even include the embarrassment factor. I know I donít like surprises like this and Iím sure you donít either!
If you havenít yet set up your accounts online, I recommend you do so. It could potentially save you from a lot of headaches in the long run. Since the advent of internet banking, itís now possible to go online and see exactly what is going on with your account and how much money you have at any given moment. This has saved me lots of times, when I forgot to write a cash withdrawal down in my check register! Internet banking has allowed me to transfer funds electronically in a matter of an instant, saving me from huge overdraft fees and return check charges. You can pay bills online, transfer payments to credit cards, make online purchases, and complete other financial transactions as well. What would we do without internet banking? I canít imagine going back to the old way of calling the automated system over the telephone and waiting as the recorded voice read off my cleared checks and deposits! It seems so archaic! Most all banks offer internet access to accounts as a convenience service to their customers, and it is relatively easy to set up.
You just need to go to your bankís website and set up a username or ID (usually your account number) and password and youíre on your way. You can even transfer this data to your computer based bookkeeping system such as Quickbooks or Quicken, to easily track your income and expenditures throughout the year. This is especially handy at tax time! Internet banking also allows you to apply for various types of loans and have the money placed directly into your account in a relatively short period of time. You can also make investments in certificate of deposit accounts as well as other financial transactions. Just make sure that you are banking with an FDIC insured financial institution to provide you peace of mind that you are doing business with a legitimate bank that can protect your deposits and investments.
You work hard for money so donít leave anything to chance.