Personal Banking and Social Distancing: A Refresher on Online Banking
Even as states ease restrictions, it's important to understand how banking can work in the age of social distancing.
As businesses across the country begin easing restrictions put in place to slow the COVID-19 pandemic, it's time to start thinking about what the new normal will look like for consumers and companies alike.
Many banks have already reduced their hours or limited their operations to drive-thru services only to comply with social distancing recommendations from the Centers for Disease Control and Prevention. However, customers still need to deposit checks, review their balances and pay bills during these times. Luckily, many financial institutions have online and mobile banking options available for customers so they can continue to manage their finances when visiting a brick-and-mortar branch isn't an option.
Here's a refresher on everything you can accomplish with online banking:
Conveniently keep up with your account
The American Bankers Association reported that 73% of Americans most often access their bank accounts from online or mobile platforms. As you can see, online banking is not a new concept, but it still isn't as ubiquitous as it could be. When your bank offers an online platform, you can typically use it to:
- Access your account information
- Transfer funds
- Reorder checks
- Balance your accounts
- Pay bills
While some may worry that online banking lacks the personalized service a brick-and-mortar location provides, many of these platforms utilize message centers and other chats so if you have a question or concern you can immediately connect with customer support. Without being bound by hours, customers can engage with their finances 24/7/365 from the comfort of their home. This convenience is specifically what 57% of Americans cite when asked why they use online banking, according to Finder.
Access your banking information on the go.
Don't forget your mobile
To make banking on the go even more accessible, many large financial institutions and even local banks also offer mobile apps. Not only can customers use these handy apps to check their balances and accomplish many of the same functions as online banking platforms offer, but they also make receiving alerts a breeze.
With most apps, you can set your notifications to ensure that if suspicious account activity is detected you will receive an email notification or even a text so you can be immediately alerted. This can be as serious as being notified of a large withdrawal or someone in another state trying to log into your account, or personalized to alert you to when you exceed a set spending limit or your balance is running low.
A secure connection to the internet and multi-factor authentication can make mobile banking a secure and convenient way to access your financial information or get in touch with a representative when you need assistance.
Online and mobile banking1 with Vectra Bank
When you open a personal account with Vectra Bank, you can enroll in Online Banking and Bill Pay for free. You can easily access your account information, transfer checks, pay bills and more from your computer or tablet. Additionally, once you have created an Online Banking account you can download Vectra Bank's free Mobile Banking Service. With a few clicks you can deposit checks and find local branches and ATM locations wherever you are.
To learn more about our online banking options, contact your local Vectra Bank representative today.
1 Mobile banking is included at no cost from Vectra Bank. Requires download of Vectra Bank App from the Apple® App Store, Google Play®, or Samsung Galaxy® App Store. Message and data rates from your wireless provider may apply. Requires enrollment in Online banking. Subject to the terms and conditions of the Internet Banking Services Agreement. Some Online and Mobile features, including Bill Pay, may not extend to minors.
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