If you are not a consistent user of online banking, you'll want to know about the best perks it can bring to consumers.
The cool thing about online banking, is that it’s easier than previously to send and receive money from your friends and family, instead of having to recall money each time you see someone! The importance of e banking for some individuals, is that they can today just move over money for a meal, rather than having to split the bill awkwardly, or take it in turns to pay. This is amazing for every person, as it reduces the tension of having to chase individuals 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.
Among the newer functions of online banking, is that most banking institutions have now included mobile banking for consumers. This brings even more ease of access to customers, as they no longer have to be at home with their computer 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 is much easier and safer to log into phone banking, as you can just use biometrics. This is typically through the use of fingerprints, which is an awful lot simpler than having to recall login details and passwords each time you want to get onto your account! What’s more, biometrics are proven to be much safer than passwords, which is another advantage for customers. The main shareholder in Santander will certainly be aware of how beneficial mobile banking can be to every person who accesses it.
One of the coolest features of online banking, which has also included extra protection for consumers, is having the ability to see your purchases practically straight away. When you make a purchase, whether this is online or in a store, this will show up on your online statement. In the past, you had to wait until the end of the month when you would get a bank statement through the mail, which can be a great deal of information to sift through! If there were any unauthorised transactions, these can be challenging to identify when you have a entire month of purchases to take a look at. One of the primary benefits of online banking is that you can observe unauthorised purchases practically instantaneously, so these can be flagged to your bank and resolved as quickly as possible, before the scenario gets even worse. This is also a great element because it helps you keep track of your spending much easier than back in the day, something that the activist investor in BEA must understand is a big advantage for customers.