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Three Benefits of Digital Banking

The pandemic has forced most people to change the way they do things, including their banking.
Mobile banking

The pandemic has forced most people to change the way they do things, including their banking. Since March of 2020, more people have discovered online and mobile banking as a fast, easy, and safe way to complete many transactions – without visiting or calling a branch or stopping by an ATM.

According to an Ipsos-Forbes Advisor U.S. Weekly Consumer Confidence Survey, more than 75% of Americans have used their primary bank’s mobile app within the past year for everyday banking tasks like depositing checks or checking account balances.  And surprisingly, even those who are less tech savvy learned that these tools aren’t as intimidating as originally thought!

Whether you’re a digital banking rookie, have been banking online for years, or have yet to log in or download the mobile banking app, here are three reasons to skip the line and bank online:

1. Convenience

Online and mobile banking allow you to conduct financial transactions whenever and wherever you are, 24/7/365. Think of the time you’ll save depositing checks, checking balances, transferring funds, and setting up account alerts without going out of your way to visit a branch during business hours.

2. Security

Security is the number one priority for financial institutions. Credit unions and banks take extra precautions to make sure online and mobile banking is secure to protect you and your accounts. For example, mobile apps may offer one or more biometric login options such as facial, fingerprint or voiceprint recognition, just in case you lose your phone. And, if you use a digital wallet like Apple Pay®, it’s safer than using a physical card. The merchant gets a unique, one-time transaction code instead of your account number so even if their data is compromised, your account information is safe.

3. Control

You have more of it with digital banking options. Unlike branches, mobile an online banking are open 24/7. You can make transfers and deposits even when the branch is closed. It’s easier than ever to send and receive money. And, features like push notifications and text alerts that you set up to your preferences can let you know about low balances, overdrafts, and even possible fraud so you can respond quickly and possibly avoid fees.

Mobile and online banking put you in control of your finances and offer tools and features that traditional banking doesn’t. And remember that using digital banking options isn’t an all-or-nothing situation. You can still visit or call a branch to complete more complicated transactions or business that absolutely must be done in person.

Baltimore County Employees Federal Credit Union offers digital tools to help you manage your money on your terms. We even have short videos to show you how easy they are to use and walk you through, step-by-step. Visit sta.bcefcu.com to get started today! What will you do with the extra time?

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