 | Mark Kolarik is the President of the Kansas Teachers Community Credit Union, located in Pittsburg, KS, since 10-2002 and is a board member of the Kansas Corporate Credit Union located in Wichita, KS . He has been employed in the financial service industry for the last 31 years, having worked in several credit unions for 21years and 10 years in the banking industry. He holds a Bachelor of Business Administration degree from the University of Wisconsin-LaCrosse and is a Certificated Credit Union Executive. |
Financial
2013-06-25 10:02:43
How does online banking work?
A-Making sure your money is where it’s supposed to be, when it’s supposed to be there, is getting simpler all the time with online banking (internet banking). Online banking allows you to safely monitor, move, and even keep more of your money. If you overlook online banking services, you’re missing opportunities to make your life easier and safer. You can handle personal finances when you choose to and can do so with efficiency, privacy, and accuracy.
With online you can:
*Monitor account balances and track transactions.
*Get immediate access to account information. You can reconcile your account whenever you choose to. No need to wait a whole month to receive your statement.
*Routinely pay bills on time. That’s the strongest contributor to a stellar credit record, and that’s your best way to earn the lowest borrowing rates. Plus, you never need to worry about incurring late-payment fees or interest rate penalty hikes for late payments.
Paying bills online is one of the biggest time savers online banking creates. You enter account information such as merchant’s name, address, and so on. Then pay the bill with a mouse click. You can also set up automated payments to handle recurring bills, such as insurance premiums or utility bills.
*Cut costs. You’ll purchase fewer paper checks, as well as eliminate the need for stamps and envelopes.
*Automate other functions to save time and help you achieve financial goals. For example, you can move funds automatically from checking to savings to help reach the goal of, say, a down payment on a house.
*See details of checks you’ve written, so you can verify the recipient, date, and amount. For instance, if you forget to record the amount of a debit card purchase, online banking allows you to retrieve a current statement listing the transaction.
Online banking offers many benefits to conducting business in a fast, simple, and safe manner. Contact your financial institution and find out how you can sign up for this service.
