Online Checking Accounts And Their Growing Popularity Among Consumers

With the increasing popularity of the online checking account more and more former traditional banking customers have found a way to save both time and money. They are also enjoying extra banking protection and, in some cases, receiving rewards for switching to online services. In fact, Internet checking account popularity may be a sign of the future as hard cash and checks become obsolete.

Online checking saves time—something everyone would like to have more of. Instead of hunting up the monthly bills, writing out checks that have to be mailed at the post office, maintaining a monthly ledger and balancing your checkbook routinely, a quick sit-down at the family computer, a visit to the banking site and release of funds, and your bill paying has just been completed in a matter of minutes.

If you choose to have recurring funds automatically withdrawn each month, you can even save more time. Your bank will be responsible for mailing any payment that cannot be electronically transferred, even if it means putting it in an envelope, stamping it and using snail mail, all at no extra charge to you.

The money saved by online banking is another reason for this form of checking account popularity. By making payments from your home or office computer, you save postage, trips to the post office, trips to the bank and late fees because the payment may have been delivered late by the mailman. Because online checking is usually free, you have nothing to lose and everything to gain.

Many customers appreciate the fact that paying your bills online protects you and your money. There is no danger of a check being lost or stolen or of being late as long as you pay on time. Your online record is your proof if a dispute arises. It is a record of how much you paid, when you paid it and whether or not your online check was cashed. By eliminating the postal system, you may still have to deal with technology, but the chances for theft or loss are greatly reduced.

Online checking accounts may offer several privileges including receiving interest on your account, free bill paying service, a free debit card, free ATM access and p2p payments. Part of the current checking account popularity is the option to use a debit card rather than carry excess cash or cumbersome checks. There is no danger of overdraft charges because the card only works as long as you stay within your balance, which you can check at any time, and checking that balance is easy and immediate. For convenience, protection, time and money savings, an online checking account is a smart choice.

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