Iowa City

Posts Tagged ‘Home Banking’

Home banking also makes it easy to move money from one account to another electronically. With a few keystrokes, you can transfer funds from savings to checking or vice versa, pay off overdraft lines of credit or credit card balances, or buy a certificate of deposit. You not only can transfer funds on the day you are logged on, but you also can set up transfers several days ahead. For example, you can have funds transferred to cover a check even when you are out of town.

CUSTOMER SERVICE
You can take care of tedious housekeeping on your bank account by communicating with the bank’s customer service people online. For example, you can open and close accounts, ask for a credit line increase, stop payment on a check,wire money, or resolve errors by sending electronic messages. Never a need to stand in line to speak to a bank officer about these matters again!

PAYING BILLS ELECTRONICALLY
Perhaps the most useful feature of home banking is the ability to pay bills online. Once you get into the habit of doing it, you’ll wonder how you ever paid bills the old-fashioned way. The first step is to set up a list of your payee’s names and addresses with your account numbers. Many banks today provide a readymade list of payees, such as the electric and gas utilities, other banks, credit card companies, schools, health care facilities, and other local institutions that are equipped to receive payments electronically. It is far better to pay a bill electronically than to have a paper check cut and mailed to the payee, because the electronic payment is certain and immediate, while the paper check may get lost or delayed in the mail and may take several days to be posted to your account.