There were 196.8 million digital banking users in the US in 2021, making up 75.4% of the population. Many people over the age of 60 used online banking for the first time during the pandemic. Estimates show over 200 million individuals will be using online banking by the end of 2022.
Are you presently using digital? These are just some of the things we can do online:
What can we do if we choose to bank online
- Pay Bills – utilities, rent, loan payments (set up repeated monthly payments – convenient and provides comfort knowing you don’t have to keep track of dates due.
- However, have to be certain there is enough money in your account to make the payments automatically.
- Pay Taxes
- Cash transfers to vendors and suppliers
Deposits to retirement accounts (either your personal account or your company’s pension plan)
- Open new accounts
- Loan applications for business loans, credit cards or lines of credit
- The ability to deposit checks or cash.
- Access your accounts via a computer or your bank’s mobile app.
The Key Advantages Of Internet Banking
- Easier – don’t have to stand in line to pay bills or make deposits
- 24/7 account access.
- Simpler fund transfers.
- Set up repeating payments and know they will happen on time – no more late payments simply because we forgot
- Ability to sync your accounts with your apps.
- Use of mobile apps.