Online banking: Learn the advantages of online banking Why bank online? Check out some of the advantages of online banks. January 13, 2023 Today it’s easier than ever to bank online. Most banks are improving online services and apps at a breakneck speed, so if you’re wondering, “Is online banking easy?” It’s never been easier! Online banking provides the perfect combination of everything you love about your local branch with new technology available at your fingertips. Switching to online banking will also change the way you manage your finances. It gives you total control to personalize banking to your needs, saving you time and money. Learn more about some of the advantages of online banking, and you’ll see how nice it is to take your finances into your own hands…literally. 1. Convenient Access The constraints of 9 to 5, Monday through Friday, no longer define when you can and can’t manage your account. One of the key advantages of online banking is convenience, especially with the easy accessibility of a financial institution’s mobile app. For instance, with the Discover mobile app, you can conveniently deposit checks, pay your bills, transfer money, and check your balance. 2. 24/7 Customer Service You might think that customer service isn’t an online bank’s strong suit, but customer service is actually one of the key advantages of online banks. Online banking doesn’t mean you lose access to personal assistance. You can call, chat online, or send an email. Discover, for example, offers 24/7 customer service. You have more ways to talk to people when you need them—without leaving your house. 3. Peace of Mind Security is an important feature in online banking. Online savings or checking account security features often include access that is typically password protected and often secured by other identity confirmations, while encryption technology can be used to prevent unauthorized access to any of your personal data. When you bank online, you can track your account activity at your convenience and be the first to learn of any suspicious activity. Additionally, Discover Bank is an FDIC member. FDIC-insured deposits are insured up to the maximum allowed by law. For more detailed information on FDIC insurance coverage, contact the FDIC directly by visiting www.fdic.gov or by calling 1-877-ASKFDIC (1-877-275-3342), (TDD:1-800-925-4618). 4. Better Rates Want to learn another one of the greatest advantages of online banking? Better rates. Many online banks are able to offer higher rates because their overhead expenses are much lower, so they can pass those savings on to you. That’s one of the major benefits of an online savings account, as well as one of the benefits of an online checking account. 5. Environmental Benefits Banking online also helps reduce your carbon footprint. You can manage your account online by signing up for paperless statements, transferring money, and paying bills. Also, fewer bank visits means you spend less time on the road, consume less gas and help protect the environment. While these are only five reasons to bank online, the benefits of online banking are enormous. Online banking is changing the way people handle their money. It makes managing money easy and convenient and gives you the ability to take complete control of your financial situation. So, get started today and learn more about how online banking can work for you. You know the advantages of online banking, but do you know the myths? Make sure you’re familiar with the facts of online banking. Articles may contain information from third-parties. The inclusion of such information does not imply an affiliation with the bank or bank sponsorship, endorsement, or verification regarding the third-party or information.