Let’s be honest: life is much easier with the advent of the internet and all the benefits that it entails. One of the most-used conveniences is online banking. That being said, not all online banking tools are created equal. Some online banks and credit unions offer tools that don’t crossover with the brick-and-mortar world of in-person banking. Some in-person banking doesn’t help you cover your bases and meet your goals. That’s where Rivermark Community Credit Union can bridge the gap. We’re here, both in-person and online, with the knowledge and tools that best suit your interests.
The best online banking tools to make your life easier range from having a checking account with direct deposit or auto-pay to budgeting and accounting tools available as mobile apps. Check out the list below to find out more about seven of the best online banking tools for an easier life.
A savings account is great and all, but for all those transactions that are going to happen on your mobile or computer, a checking account is essential. With a checking account, you’re able to set up things like direct deposit from your employer; schedule automatic payments for your recurring bills, such as phone and internet contracts; and move money around easily, whether it’s to another one of your accounts or to someone else.
Wherever you are, you’re able to access your account. Mobile banking is hands-down one of the best online banking tools. Beyond checking your balance, you can move money, make payments, and make and confirm deposits. Many mobile apps also offer the ability to schedule payments and even do things like activate or replace credit or debit cards. Some apps will even allow you to set travel alerts on eligible cards. Gone are the days of waiting in long lines. Your personal banking is now as easy as getting on your phone to knock things off your to-do list.
Online Bill Pay
Writing checks or dropping by in-person to make payments sounds like something from an olden-day movie. With online bill pay, you’re able to enter the recipient, confirm or change the amount of money due, and decide whether to set up the payment as a one-time or recurring item. Having online bill pay correlates directly with having a checking account, and most financial institutions provide an online banking service with automatic bill pay. Forget the checkbook and, instead, set up your online bill pay. There will be more time for enjoyable things when the bills “pay themselves.”
Some people like to have cash on hand in order to know how much they’re spending and to make sure they don’t overdraw their accounts. Having a budgeting app can keep you abreast of all the outgoing (and incoming) funds, while giving you an overview of what you’re spending the most amount of money on. Some of the best budgeting apps can be found for free: GNUnet is a great open-source app that tracks your spending and gives you monthly reports, and Mint will do the same, keeping an eye on your spending and balance, keeping both your wallet and accounts happy.
Automatic Savings Programs
One of the best online banking tools that passively “works for you” is automatic savings programs. For example, Simple sorts your income into various categories to cover your expenses and aims to confirm if it is “Safe-to-Spend” certain amounts of money on things that aren’t budgeted for in advance. Some tools also offer a program that rounds your purchases up to the next dollar amount, sticking the difference aside into savings so you’re able to save without having to actively think or plan it out. These sorts of programs can benefit individuals who want to save a little bit more than what they may already be setting aside.
Goal Planning Tools
Whether you have a smaller or larger goal in mind, sometimes the willpower to set funds aside for something “in the future” can be a challenge. One of the best goal planning tools comes from USAA, and it can make all the difference in accomplishing your savings goals. It works in conjunction with keen financial advice that will empower you to reach your goals. You may be starting an emergency fund or saving for a vacation. With these planning tools, you’ll be able to link your accounts to the tool, track your savings, and see how short-term and long-term goals can be realized.
There are numerous companies that offer money transfers, like PayPal and Venmo, among others, but much of your transfer activity can take place directly through your community credit union. You can transfer money between accounts housed at the same financial institution, pay a loan from another financial institution or debit card, send or receive funds via a wire transfer, fund your account with a transfer from another financial institution or by using a credit or debit card, or even move money from different accounts at different credit unions. The ease of sending (and receiving) money has never been, well, easier!
But wait, that’s not all. There’s so much more you can do from the comfort and security of your own home, office, or wherever you may be. At Rivermark Community Credit Union, we strive to keep up with the times by providing you with all the tools that you need to keep your finances in order. With some of these online banking tools, our goal is to see you confident and comfortable in all your credit union needs. Remember, your financial present and future are our top priorities, so we’re just a phone call (or a click) away.