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Banking at Your Fingertips: 8 Tips to Maximize Your Digital Banking Service

In today's fast-paced and technologically advanced world, banking has become more convenient and accessible than ever before. With just a few taps on your smartphone or clicks on your computer, you can perform a wide range of banking tasks, from checking your account balance to transferring money, paying bills, and even applying for a loan. This shift towards digital banking is not just a fleeting trend; it is the future of banking.

Why use digital banking and what are the benefits?

One of the primary benefits of digital banking is the unparalleled convenience it offers. Gone are the days of rushing to the bank before it closes or waiting in long queues. With digital banking, you can access your accounts from anywhere, at any time. Whether you're sitting on your couch, on a beach vacation, or even during your morning commute, you have the power to manage your finances at your fingertips. This level of convenience saves you valuable time and effort, especially if you have a busy schedule to juggle.

Security is another crucial aspect of digital banking. Contrary to popular belief, digital banking is just as secure as traditional banking methods. Banks employ advanced security measures, such as encryption and firewalls, to protect your account information. Additionally, many digital banking platforms offer two-factor authentication, which adds an extra layer of security. By requiring a code from your phone in addition to your password, unauthorized access to your account is significantly mitigated. Furthermore, logging in with biometric features like FaceID or fingerprint recognition makes the process faster, easier, and even more secure.

Personalization is a key advantage that digital banking brings to the table. With access to your personal information, digital banking platforms can offer more tailored services than traditional banks. By analyzing your spending habits, income, and credit score, these platforms can provide personalized recommendations and insights to help you better manage your finances. Additionally, many mobile banking apps allow you to customize the features that are most relevant to you, ensuring that your banking experience is truly personalized and aligned with your needs.

Apart from convenience, security, and personalization, digital banking also contributes to a more sustainable future. By reducing the need for paper-based transactions and physical bank visits, digital banking significantly decreases paper waste and energy consumption. By embracing digital banking, you can contribute to a greener and more environmentally friendly world.

To make the most of digital banking, here are some valuable tips to keep in mind. 

online banking quick start kit

 

Tips to Maximize Digital Banking

If you're not already using digital banking, here are eight tips to help you get started:

1. Choose a financial institution that offers a user-friendly digital banking platform.

When it comes to choosing a digital banking platform, it's essential to do thorough research to find one that suits your needs and preferences. Not all platforms are created equal, and some may be more difficult to navigate than others. Take the time to read reviews, compare features, and evaluate user experiences before making a decision.

In addition to user-friendliness, it's also crucial to consider the customer support offered by your chosen financial institution. Ensure that they have knowledgeable and responsive staff who can address any questions or concerns you may have about your digital banking platform. Having access to reliable support can make a significant difference in your overall banking experience and provide peace of mind knowing that help is just a phone call or message away.

2. Download your financial institution’s mobile app.

Once you have signed up for online banking, you will have the opportunity to enhance your banking experience by downloading a mobile app. This app not only provides a secure platform for accessing your accounts, but it also offers a wide range of convenient features that make managing your finances on the go a breeze.

With the mobile app, you can easily view your account balances, transaction history, and pending transactions, allowing you to stay up-to-date with your finances at all times. You can also deposit checks, move money, check your credit score, and so much more, right within the app.

3. Ensure the security of your mobile app.

Make sure you utilize two-factor authentication and software updates to your mobile app. Two-factor authentication adds an extra layer of security to your digital banking account. When you set up two-factor authentication, you'll be asked to enter a code from your phone in addition to your password when you log in to your account. This will help to protect your account from unauthorized access. By logging in with your FaceID or fingerprint, it makes signing into your mobile app faster, easier, and more secure.

Your bank will regularly release software updates for its digital banking app. These updates often include security patches and new features. It's important to keep your software up to date to ensure that you're using the latest security features.

4. Take advantage of online resources that add convenience to your life.

With digital banking, you can deposit checks, transfer money, check your credit score, and pay bills all in one place and without going to a physical branch. The biggest advantage to digital banking is the access you have from wherever you are.

Imagine you're on vacation and realize you forgot to pay a bill that's due tomorrow. In the past, you would have had to scramble to find a physical branch or a computer to log in to your account. But with digital banking, you can simply open your mobile app, navigate to the bill payment section, and make the payment in a matter of seconds, all while lounging by the pool or exploring a new city.

5. Check your account balances often and monitor the activity on your account.

It's essential to keep a close eye on your transactions to ensure the security of your digital banking account. By regularly monitoring your account activity, you can quickly identify any unauthorized transactions and take immediate action to prevent further damage. Most digital banking platforms offer easy access to a comprehensive transaction history, allowing you to review and verify each transaction.

In addition to safeguarding your account, monitoring your transactions also plays a vital role in achieving your financial goals. By regularly checking your accounts, you can assess your spending patterns and identify areas where you may need to make adjustments. For example, if you notice that you're consistently overspending in certain categories, you can take steps to cut your expenses and reallocate your funds towards your financial goals.

Checking your accounts regularly also helps you stay on top of your budget. You can ensure that you're sticking to your spending limits and making progress towards your savings goals. By having a clear understanding of your financial status at all times, you can make informed decisions about your spending and saving habits.

6. Set up automatic bill payments for utilities and credit cards.

When it comes to managing your finances, staying on top of bill payments is crucial. With the convenience of digital banking, you can set up automatic bill payments for utilities and credit cards, ensuring that you never miss a payment again. This mobile banking tool allows you to schedule recurring payments, so you can relax knowing that your bills will be paid on time, every time.

Different financial institutions offer varying services to their customers, but at Leaders Credit Union, we go above and beyond to provide our members with exceptional benefits. That's why all of our checking account holders receive free online bill payment services. With this feature, you can easily set up automatic payments for recurring bills, such as your electricity, water, or credit card bills.

7. Connect all your accounts in one place.

Managing your money with mobile and digital banking is easy because you can access all your accounts in one place. Whether you have multiple accounts with the same financial institution or accounts with different banks or credit unions, digital banking platforms allow you to consolidate them all into a single view. This not only saves you time and effort, but also gives you a holistic picture of your finances.

With the ability to see all your accounts in one place, you can easily set budgets and track your spending. Digital banking platforms like the one offered by Leaders Credit Union provide a Money Management tool directly within the app and online. This tool allows you to categorize your transactions, set spending limits, and receive alerts when you exceed your budget. By having a clear overview of your income and expenses across all your accounts, you can make more informed financial decisions and stay on top of your financial goals.

8. Be careful about clicking on links in emails or text messages. 

Phishing emails and text messages are a common way for criminals to steal your personal information. If you receive an email or text message from your bank, be sure to verify the sender before clicking on any links. If you’re unsure of who the sender is, always call your financial institution first before giving out any personal information. 

It is also a good idea to only use secure websites you're logging in to your digital banking account. To know if the website is secure, look for the lock iron in the address bar.

Use Digital Banking at Leaders Credit Union

When used properly, digital banking tools can help you access and manage your money at any time of the day. Whether you are just starting out with digital banking or have been using it for a long time, we want to make sure you understand all the benefits and take advantage of them.

At Leaders Credit Union, we understand the power and advantages of digital banking. Our comprehensive online banking platform and user-friendly mobile app empower you to take control of your finances. Our mission is to ensure that you make the most of digital banking and its numerous benefits. 

Are you ready to take advantage of online banking? You can sign up with ease with the help of our online banking quick start kit. Our step-by-step guide walks you through the sign-up process so you can start managing your money anytime, anywhere.