Maximize Your Banking Experience

6 Ways to Maximize your Banking Experience

Banking has evolved greatly even in the last 10 years. Technological advances have created new conveniences for consumers when it comes to managing their bank accounts. With that in mind, here are six simple ways you can make sure you’re getting the most out of your banking experience.

1. Open a checking and saving account — It’s important to make sure you have enough in your checking account to cover your monthly expenses, but any excess should go to a savings account where you won’t be tempted to spend it. You may also want to look into a high-yield savings account where you can earn some interest on your savings.
2. Put savings in your budget — While monthly expenses dictate your budget, you should always include a set amount in your monthly budget for savings. It’s the quickest way to build your savings to make sure you can handle emergencies that arise.
3. Pay bills electronically — Most banks give their customers the ability to schedule bill payments ahead of time. Making your bill paying automatic gives you more time to focus on other things while ensuring that your payments are made on time.
4. Take advantage of mobile/online banking — The technology behind mobile and online banking allows you to conduct many banking activities in the palm of your hand. Whether you want to check the balances on your accounts, transfer money from one account to another or even deposit a check, you can do that and much more with your mobile device.
5. Monitor accounts — Speaking of mobile devices, using them to check your accounts regularly can help you identify if you’ve become a victim of fraud. By monitoring your accounts, you can alert your bank if you see suspicious activity. The quicker you alert your bank of fraudulent transactions, the quicker your bank can take action to protect your accounts.
6. Use multifactor authentication on your bank accounts — Of course, if you use online or mobile banking, you still need to implement your own levels of security. By regularly updating the password on your accounts or using multifactor authentication, your accounts will be better protected from cybercriminals.

Contact us to learn more measures you can take to get the most out of your banking experience.