All posts by Marlon Welch

Marlon Welch has been the managing editor for this blog since 2014. Please make sure to contact us if you need to get in touch with him directly.

The Truth About Online Banking In 8 Minutes


Together with all the focus online banking has received in the last couple of years, it appears there are new online banks popping up everywhere. Users are selecting online banking for its ease and convenience. And while dilemmas of identity theft are important aspects to consider with online banking, it has not prevented folks from utilizing the Web to streamline their finances.

Even more significantly, recent studies imply that Internet banking does not just make life easier, customers who pick it appear to be more satisfied with their bank. Both areas of greatest satisfaction autumn in the categories of the convenience online banking supplies and the ability to pay invoices online. One recent industry report suggested that satisfaction with online banking services is up 5.5 percent. The report also reveals that users who pay their invoices online experience not only satisfaction together with the capacity to bank online, but with their unique banking association, implying users have strong trust in their bank’s ability to ensure identity. Actually, similar reports have also revealed that people who pay bills online retain their business more at a particular bank than people who do not utilize a bank’s online service.

As a consequence, banks are finding great increase in online service. One major commercial bank cited that in 2004, there were 3.4 million customers paying bills online, followed by an increase to 6 million online bill payers merely a year later. Many bankers consider those types of increases are the end result of services such as online bill pay that customers find most appealing. We found this page covering wells fargo dealer services login more thoroughly.

Many first-time users come to online banking to access their account information including account balances and check action. That is followed by the ability to transfer funds between accounts. And finally, many users then move into online bill pay. Perhaps they begin with paying a few utilities online at the utility’s website. They may then research the online bill pay service provided by their bank. Now, banks are seeing increasingly more users receiving bills electronically.

Yet for some bank customers, concerns about identity theft keep them from trying online banking. Interestingly, their counterparts who do use the Internet to run banking do not appear to hold those same understandings. Most are satisfied with the degree of online security offered by their banks. The challenge then for banks lies in the continuing education of their customers to try online banking and discover for themselves the high level of security in place at most banks. Once those customers give online banking a try, perceptions of danger seem to fall, reports signal. Surprisingly, these same reports found that today’s security measures put in place by PC users and banks have many ID thieves targeting potential casualties offline.

The following are a few ideas to think about when selecting an Internet bank account:

The Annual Percentage Return (APR) may be higher with Internet bank accounts, and hence one of the very most important attractions for people who are looking for a high yield. Running trades online may save the bank money, and those savings may subsequently be passed on to the online customer, most often in the form of higher savings rates. For more information on wells fargo online banking login, we suggest checking out this website.

Skill to obtain cash. Online users should consider what steps are involved in getting their money in an online account.

Ability to link accounts. Users want the power to link various accounts to one another, which makes it simple to move money seamlessly between online bank accounts.

What types of additional services are available? Prospective users should be interested in not only banking online, but purchasing CDs, applying for a mortgage, and paying bills online.

Security. Users must verify that their online bank is FDIC insured and the security system could be trusted.

Ability to set up automatic savings account. There’s no reason not to save today with an online account that electronically deposits money into a savings or money market account.

Marlon Welch

Marlon Welch has been the managing editor for this blog since 2014. Please make sure to contact us if you need to get in touch with him directly.

More Posts