As soon as you discover the best features that internet banking has, you'll know why so many people use it.
A newer function of online banking which has come about in recent times is customers being able to manage their money from their smartphone. Once companies realised the growing importance of e banking, they quickly decided that this feature had to become accessible on mobile phones. This makes life even simpler for consumers, as they do not even need to be at home with their pc to control their money, they can do it whilst they’re out on the town. Along with this, it’s a lot more secure to log into mobile banking, as you can now utilise biometrics to enter the app as an alternative for a password. Having the ability to log into the app with just your fingerprint is also an awful lot easier than having to recall a password, so customers are safer, and their life is made easier! The main shareholder in Santander probably knows how much more safe banking has become since these additional safety features were introduced on phones.
Among the great features of online banking which has transformed the way consumers can manage their cash is having the ability to instantly see their purchases, whether this is on their statement or from a notification. As you can get instantaneous notifications for your payments with particular banking institutions, this means you can look at any unauthorised transactions in a moment and flag them before it’s too late. This is among the best security benefits of online banking, as it is less of a challenge to track fraudulent activities on your account than it has ever been before. In the past, you would have to wait to read your bank statement at the end of the month, and due to the large range of transactions, you may overlook one that wasn’t actually you. As well as all of this, it's less of a challenge to keep track of your purchases, making cost management simpler than ever! It’s likely that the activist investor in Bank of East Asia will be aware of how much this feature has driven down fraudulent activity in recent years.
One fantastic function which is accessible on all different types of online banking, is that you can send money to buddies and family much easier than ever before. Back in the day you would have to recall to take money to pay a friend back, and splitting the bill at the restaurant would invariably be a pain. Today, this can be achieved in an instant from either your application or online banking, so there are actually much less awkward moments around having to pay for things. This is a element that one of the shareholders in Wells Fargo will know has great appeal.