Many people still prefer to speak face-to-face with their banks, but with the pandemic banks are making the move to digital – meaning your money is more accessible. But how can we trust them?
Here are just a few reasons going online might benefit you:
1. You can only access online banking with a personalised login, usually consisting of your email address, a password and often a Bank ID number. As an extra precaution, some ask for a personal question i.e “What’s your maiden name?”. This means no one can access your account without this information.
2. Online banking also allows you to digitally transfer and spend money, so there is no longer a need to carry cash about. This avoids the dangers of money being lost or stolen. Furthermore, many banks will send you notifications of transactions so you can keep track of your spending.
3. Just because a bank is online, and not in a building, does not mean that you can’t speak to an actual person when you need to. Online banking provides the best ways to get in contact with your bank, either via online chat or over the phone should you ever require it.
4. Most banks offer a mobile app that allows you to more easily take advantage of online banking on your phone. You can quickly browse your accounts when you are out shopping, and check you have sufficient funds.
5. Online banking allows you to access your account statement from anywhere. This is the quickest way to see transactions. It also enables you to identify any unauthorised transactions more quickly, so you can dispute them right away.