How Online Banking Can Save You Money

More Reasons Why Online Banking Is a Must For Savvy Consumers

Savvy consumers save money whenever they can, which is why so many of us sign up for online banking services. From reduced mortgage rates to elimination of late fees or “mail missing” checks, there are dozens of reasons why online banking pays off. Still not convinced, consider these facts…

Get a Lower Rate

Some mortgage companies will give you a reduced interest rate if you sign up for automatic payments. By controlling your payments online and having them taken out of your account via automatic electronic withdrawals, your mortgage company may be willing to reduce your rate. It may only be by a quarter of a percent, but every dollar counts.

Better Savings Deals

Online banks usually offer better interest returns on savings accounts. The bank saves money when you bank online, and passes some of that savings on to you. For example, an online savings account with Washington Mutual can net you an interest rate that is 4.5 percent higher than the rate offered by its brick-and-mortar branches.

Keep Better Track of Your Money

With online banking you don’t have to wait for your statement to come in to see what checks have cleared or how much you have in your account. You can simply log into your bank account via the Web and see exactly where your checking account stands.

Avoid Late Fees

With online banking, you don’t have to worry about incurring late fees for checks that never arrived or statements that went missing. Simply log into your account online and pay your bills with the click of a mouse.

Better Than Ever

For those of you worried about account security, you’ll be pleased to know that online banks are safer than ever and those who take the time to learn how to safeguard their accounts have little to fear.

Online banking may take a month or two to get used to, but once you’ve become accustomed you won’t know how you lived without it.