Net banking, more commonly referred to as internet banking, has become the new norm for both individuals and businesses alike. Each year, it seems like banking institutions are adding more and more convenient services to their net banking solutions. By understanding what these are, you can more successfully enjoy your online banking experience.
Mobile Deposit
One of the most desirable services that many net banking solutions offer is the mobile deposit. Those who don’t receive direct deposits from their work can easily deposit their paycheck via mobile deposit. To do so, you’ll simply snap pictures of the front and back of your check. Most banks will instantly approve the deposit, and you can have access to the funds instantaneously or the next business day.
Transfer Funds
Net banking solutions typically allow you to transfer funds from one bank account to another. You’ll simply need to have the basic account information, like the routing number and account number. It’s crucial to note that some banks may charge a transfer fee depending on the amount of money that you transfer. You can initiate transfers in or out of your bank account. You can even transfer money from member to member for free. Most member-to-member transfers are instant.
Mobile Banking
According to the experts at SoFi, “At its simplest, mobile banking occurs when a person makes a financial transaction through the use of a mobile device, such as a cell phone or tablet.” Many net banking solutions offer the convenience of mobile banking so that you can access your banking account anywhere your smartphone or tablet has internet connectivity. Many people have asked the question, “are mobile banking apps safe?” The short answer is that banks have invested hundreds of millions of dollars in cybersecurity measures to ensure that your mobile banking experience remains safe.
Pay Bills
Most modern net banking solutions offer some sort of automatic payment convenience for your bills. You’ll need to log in to your payment portal and insert information for the specific company that you’re paying. Once you establish an automatic payment date, the necessary funds will be transferred to the company to pay your bill. You can use this feature of net banking solutions to pay for your water, electricity, and even phone bill. This feature makes it super simple to automatically pay your monthly bills without having to spend a lot of your own time doing so.
Order New Checks
Another convenient feature of net banking solutions is that you can order new checks online. Instead of having to call up the bank or stop by your local branch, you can easily log into your online banking portal and request new ones. This will save you much time and allow you to easily track the shipping of your new checks.
Net banking solutions are changing the way that ordinary people handle their banking necessities. The above are just some of the many basic features that are offered by banking institutions that utilize net banking solutions.