When is the last time you stepped into your bank’s physical branch? For some, it may have been yesterday, but for others, a week, a month or maybe even a year. This doesn’t mean they’ve stopped managing their money, or discontinued their relationship with their bank. It simply means they have found more convenient ways to bank that better fit their lifestyle. Innovations in banking technology have made it possible for people on the go to manage their finances almost entirely from their computer or mobile device.
In fact, people now prefer online banking to traditional face-to-face transactions. According to a Nielsen survey, 82% of US consumers have banked online at least once in the last 30 days. By 2017, an estimated 1 billion people will use mobile banking.
Online banking has become commonplace in US households, offering enhanced banking capabilities, and layers of evolving security measures. It has moved beyond merely allowing consumers to check account balances, view statements and pay bills. Services like FNB Fox Valley’s Pop Money support person to person payments using as little as an email address or phone number. It’s never been easier to split a lunch bill or pay the babysitter!
Aside from around the clock convenience, online banking promotes “greener” living by largely cutting down on paper usage with eStatements and online bill pay services. Efficiencies like these allow customers to keep an archived record of their transactions, accessible to them anywhere, anytime. Many online and mobile banking platforms offer budgeting tools like spending reports that can help keep expenses in check.
Numerous financial institutions now offer a mobile banking app for smartphones, tablets, and an array of other digital devices that allow customers to check balances, transfer money, receive account alerts and make payments. Some apps like FNB Fox Valley’s are a bit more advanced than others, supporting Mobile Deposit which allows you to make a deposit by simply taking a picture of a check with your phone.
Even better than paying a bill with your mobile phone is taking a payment! Electronic payment devices like FNB’s SpotPay enable your smartphone or tablet to accept a debit or credit card payment securely. These services are great for small business owners, helping them cut down on their cost of accepting cards.
Don’t buy into the assumption that small community banks can’t keep up with “big bank” technology. On the contrary, many small institutions like FNB Fox Valley can offer the same cutting edge banking technology while still maintaining the tailored customer service of a community institution. If you have questions about available eBanking services, or would like help getting started, contact your FNB Fox Valley personal banker today at 920.729.6900 or email firstname.lastname@example.org.