| Internet Banking |
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| Monday, 25 July 2005 05:03 | |||
 Time is precious for busy working carers and even finding time to do your banking can be difficult. Have you thought about using the Internet or telephone to do your banking and pay your bills? These services are available 24 hours a day, 7 days a week and can save you time and in some cases money. This article provides an overview of how to use these services and includes some useful tips and tricks. Typical online banking functions include checking account balances and transaction history, transferring money between accounts, making loan repayments, paying bills to third parties and ordering statements and cheque books. Making the most of Internet Banking Learning exactly what online banking has to offer may allow you to combine its benefits with the familiarity of conventional banking to make the whole task easier. Online banking provides a number of advantages for both customers and banks. For consumers the advantages are:
However, the major banks are aware of the shortcomings of internet banking and are not about to abandon face to face contact. Currently in favour is the American 'clicks and mortar' industry model. This model encourages customers to use online banking for basic transactions, freeing up staff for services like financial planning and guidance at branches. So while there are banks which conduct their business solely online, should you wish to use them, not all banks are necessarily set to follow this path. The internet is a powerful and vital new medium capable of offering a time-saving and cost-effective way of banking for customers and banks. For this reason alone internet banking is certainly here to stay, not to be feared but moulded to suit your way of banking. TIPS AND TRICKS FOR WORKING CARERS 1. Consider online savings accounts Consider alternative options such as online savings accounts. These new account offerings offer higher interest rates than traditional branch-based accounts and lower fees. Their returns can also be as good as or better than fixed interest investments like term deposits and debentures. 2. Online transactions are cheaper Pay bills, check balances and transfer money between accounts using online banking. These transactions are significantly cheaper over the internet than over the counter - and far more convenient. 3. Online transactions are convenient Online banking allows you to do your banking whenever you want, not when the bank wants to open for business. Internet banking websites offer 24-hour, 7 days a week access to pay bills, check balances and transfer money between accounts, even apply for a new account. Best of all there are no queues. 4. Twelve tips to ensure internet security Online banking fraud is on the rise and there are a number of ways you can protect your credit card and bank accounts if you transact over the internet:
Telephone Banking Most banks also offer telephone banking through a toll free number. Telephone banking is similar to Internet banking and includes the ability to:
Keep receipt numbers to verify payments Contact your bank to set up Telephone Banking. The Internet Banking guide is adapted from the Infochoice website who generously allowed us to publish an edited version of their Internet banking guide. To view the full article and follow the links visit: - Working Carers Support Gateway: online news, information and support for working carers www.workingcarers.org.au
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