Online Banking
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If you are like most people, you've probably heard about online banking but you may not have tried it. Online or Internet banking, as it is sometimes called, uses today's computer technology to provide banking customers the choice of handling their finances on the Internet rather than by traditional banking means. Most national banks today offer some sort of online banking and are often referred to as "brick-to-click" banks, as opposed to "brick-and-mortar" banks which offer no online banking whatsoever. There are also "virtual" banks which have no physical location or actual tellers. My bank is a "brick-to click" bank that offers such service conveniences as twenty-four hour access to checking and savings accounts, credit cards, and mortgages as well as bill payment, transfer of funds, and account aggregation which is a service that compiles account information from several accounts or institutions into one display. Online banking is proving to be a valuable technological advancement because it is quick, it saves money for both the customer and the bank, and it is convenient.
Online banking is quick, indeed. Two weeks ago my mom and I were going on a shopping trip. As we were leaving the house, she told me before we could go shopping she had to first go by the post office, the water and sewage company, and the electric company to pay bills, and then to the bank to deposit her paycheck. The entire trip took approximately half an hour and that doesn't include the amount of time it took her to write out the checks and record the amounts in her check register, fill out the corresponding payment stubs, and stuff the envelopes...