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Organize your finances once and for all with Online Banking.

How much money do you have in your checking account? If you have a ballpark idea, but never get around to balancing your checkbook, Online Banking may be for you. It is a quick way to make money management easier. Here are some ways online banking can help you.

Staying up to dateOnline Banking lets you bank anytime, anywhere. You can use a personal computer – or, if your bank is one of the many that have Mobile Banking1– use your cell phone to check your available balance, pay bills and transfer funds while you’re on the go. You can also use Online Banking to set up Alerts whenever a bill is due. It’s an easy way to help avoid late fees. Note: Using Mobile Banking doesn’t usually cost extra, but you may have to pay your cell phone provider for Internet use.

Money Management Tip

Think of a budget as a spending plan you control - a tool to help you decide in advance how to divvy up your earnings each month to pay your expenses.

Preventing overdraftsIt can be easy, when balancing work and family life, to lose track of activity on your checking account. If you find it a challenge to keep up regularly, set up Alerts delivered via e-mail or text message that will notify you if your balance drops below a certain amount. Alerts can also tell you when the direct deposit of your paycheck hits your account, so you know that you have extra funds with which to make purchases. Or, you can use Mobile Banking when you are on the go to check your account balance before making purchases.  When you check, don’t forget to subtract from your available balance any paper checks you’ve written that haven’t been cashed yet or online payments that are scheduled in the future but not yet deducted by your bank.  Avoiding mistakes quicklyIf you realize you are on the verge of an overdraft because of a very recent withdrawal or purchase you made, you may have time to use online banking to transfer money quickly from your savings to your checking account so you don’t overdraw your account.Organizing your bill paymentsMany banks offer electronic bill payment and most that do also let you schedule recurring payments, like a mortgage bill, for a full year. These online banking benefits make things easier by keeping your billing records in one place and enabling you to make payments quickly. Seeing total payments to each vendor.A great feature of many online banking systems is the ability to see how much you have paid a given vendor – the phone company, the local florist, or your mortgage provider – over a given period of time. When it’s time to prepare your tax return each year, you have a ready source at your fingertips for every payment you’ve made online. You can see an aggregated total of payments to your cell phone carrier, for instance, to determine what portion might be deductible.If you are a Bank of America customer, you can enjoy industry leading Online Banking services as part of your banking relationship.Take action nowMake sure you are getting full benefit of your Online Banking service.  If you aren’t using the features mentioned in this article, set them up yourself or visit your local banking center and have an associate assist you.


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