As a growing number
of banking services are now available online, mobile banking is quickly becoming a go-to feature in
the personal finance realm. According to a March 2014 online survey conducted
by the Federal Reserve, 51% of smartphone owners have used
mobile banking in the past 12 months, increasing from 48% in December 2012. As
convenient as it is, though, mobile banking can be a difficult terrain if
you’re new to it. Follow these tips to get the most out of your experience.
1.) Practice Banking Safely
Download your credit
union’s official app from their website, iTunes or Google Play,
and do all of your banking through it. Apps have an extra layer of security
designed to keep your private information under wraps. As an extra word of
caution, always remember to log out when you’re finished banking. Also, only
use your network carrier’s cellular data or a secured Wi-Fi connection you
trust. Just as with any other computing device, connecting to an unsecured
Internet connection makes you vulnerable to attacks from cyber criminals.
2.) Check Your Balance Regularly
Mobile banking is
designed to simplify your life. Enjoy the convenience of checking your account
balances anytime, anywhere. This can help you avoid overdraft fees. Constantly
monitoring your account is a smart move to ensure that all charges posted to
your account are accurate. Checking your balance regularly will also allow you to make convenient transfers between accounts when necessary. Add mobile bill pay and you’re able to handle just about all your banking needs from your phone.
3.) Set Up Account Alerts
Enjoy the ability to
set custom banking alerts delivered right to your phone. You can set alerts to be warned when
any of the following happens: Your balances drop below a certain level, account
overdrafts occur, bills are approaching their due dates, account statements are
available or when large transactions are made. These help keep your finances on track and avoid costly mistakes.
4.) Locate Nearby ATMs
Finding the closest
ATM is often a challenge, as they never seem to be close by when you need them.
Use your mobile banking app to find the ATM nearest to your current location,
so you don’t have to waste time driving around to look for one.
5.) Deposit Checks from Anywhere
There’s no longer a
need to head to the credit union or the nearest ATM when you have a check to
deposit. Mobile banking offers a check deposit feature right from your smartphone.
Simply take a picture of the front and back of the check, upload them and wait
for the money to post to your account ─ it’s that easy.
Mobile Banking is Easy
If you’re new to
mobile banking, it may take some time to get comfortable using all the new
features literally at your fingertips. However, once you get the hang of it,
you’ll wonder how you ever went without it. The convenience of banking from
your phone allows you to save a great deal of time and effort, so you spend
less time managing your accounts and more time on things you enjoy.