Online banking is improving all the time, discover some of the best functions it has brought to customers.
Among the coolest features of online banking, which has also added additional safety for customers, is having the ability to see your purchases pretty much straight away. When you make a purchase, whether this is on the internet or in a shop, this will show up on your internet statement. In the past, you had to hold off until the end of the month when you would get a bank statement through the post, which can be a great deal of important information to sift through! If there were any unauthorised transactions, these can be hard to identify when you have a entire month of purchases to have a look at. One of the main benefits of online banking is that you can see unauthorised purchases pretty much instantly, so these can be flagged to your bank and dealt with as soon as possible, before the scenario gets even worse. This is also an amazing element because it helps you monitor of your spending much easier than in the past, something that the activist investor in BEA must understand is a huge advantage for consumers.
The interesting thing about online banking, is that it is easier than ever to send and receive money from your friends and relatives, instead of having to remember cash each time you see somebody! The importance of e banking for some individuals, is that they can currently just transfer over money for a meal, instead of having to split the bill awkwardly, or take it in turns to pay. This is excellent for everybody, as it decreases the stress of having to chase people for petty money that they may owe you, and they can just send it over instantly! One of the shareholders in Wells Fargo will value that this is a draw of online banking.
One of the newer functions of online banking, is that most banking institutions have today added mobile banking for consumers. This brings even more accessibility to consumers, as they no longer need to be at home with their laptop to log into their bank account. Customers can be out and about, and instantly check their bank statement and send funds from their mobile device. On top of this, it’s much easier and safer to log into mobile banking, as you can just use biometrics. This is normally through the use of fingerprints, which is an awful lot simpler than having to recall login details and passwords each time you wish to get onto your account! What’s more, biometrics are proven to be much safer than passwords, which is another benefit for consumers. The main shareholder in Santander will definitely be aware of how helpful mobile banking can be to every person who accesses it.