Barbara Shaw: Hi! I am Barbara with Wells Fargo and Company. For many people, the convenience and time savings provided by online banking are the best part. Do you need to check your balance, make a transfer or balance your checkbook? All of those things can take time, especially if you do it manually.
Many people spend hours each month sitting at their kitchen table, going over bills, writing out checks and putting them in the mail. And tax season means even more time going over your paper statements and records.
Online banking reduces the time you'll spend on banking, leaving you more time to do what you really enjoy. Online banking is also a good way to reduce clutter and simplify your life. By opting out of paper account statements, you can access statements online only when you need them.
And with e-bills, you may be able to aggregate all your bills within your bank's bill pay service. Set up e-bills to pay a host of bills for major companies as well as make your credit card and loan payments.
You'll need copies of the bills to set up the service, but once you are set up, be assured that your payments will be made as scheduled on time every time. Using online banking can also save you money.
For starters, you don't have to go to the bank nearly as often. And with guaranteed on-time payments, often available with online bill pay, you can also eliminate most late fees. Imagine if you never had to pay another late fee for a payment that had arrived a day or two after the due date.
In addition, one of the biggest advantages of online banking is the ability to help prevent accounts from becoming overdrawn. A forgotten recurring withdrawal or an unexpected surcharge to a debit card transaction can trigger a flurry of insufficient fund fees.
By signing up for account alerts to notify you if a balance has dropped below a preset amount, you can react quickly and make transfers or deposits to prevent overdrafts. The bottom line is that online banking can help you save lots of time and money.