At SouthEast Bank, we love getting to know our customers in person when they stop by to complete a transaction or get support with certain types of accounts. However, if you also love the convenience of banking from your phone or computer, you’re not alone. According to a recent study by the American Bankers Association, more than half of bank customers prefer to bank using their mobile app, and 22% prefer to use online banking.
While features like direct deposit and balance inquiries are widely used, many customers aren’t taking full advantage of digital banking’s time-saving benefits simply because they may not know about them. Let’s explore how digital banking can streamline your day-to-day and financial management.
Use These 5 Digital Tools to Help Simplify Your Money Management
1. Online Bill Pay
With digital banking, you can sign up for automatic bill payments for your rent, car insurance, and even your student loans.
By signing up for automatic payments, you can reduce the risk of missing a payment, which can damage your credit score. Some companies even offer discounts to autopay customers!
With automatic payments, it doesn’t matter if you’re away on vacation or are simply busy. You can relax knowing that your bills will always be paid on time.
2. Budget to Track Expenses
SouthEast Bank account holders can take advantage of digital spending and budgeting tools available through online and mobile banking. These tools automatically track and categorize your expenses, providing insights into your spending habits.
By using these budgeting features, you can:
- See how much you spend in categories like dining, shopping, or entertainment.
- Set spending limits to help control expenses.
- Identify areas where you can cut back, such as reducing out-of-network ATM fees.
These small adjustments can add up, helping you reach your financial goals faster.
3. Transfer Money Between Accounts
If you’re saving toward a major purchase—like a home or vacation—having a dedicated savings account can keep you on track. Seeing that savings account grow can help keep you motivated, and it prevents you from tapping into that money for other non-essential expenses.
Transferring money between accounts can be a little more cumbersome if you don’t use digital banking. But with a digital checking and savings account, you can transfer money between accounts seamlessly. You can set up automatic transfers to your savings account or make manual transfers whenever you receive extra income.
4. Use Mobile Deposit to Deposit Checks from Anywhere
Despite the rise of electronic payments, checks are still commonly used. If you receive a check but don’t have time to visit a branch, digital banking lets you deposit it directly from your phone.
With mobile check deposit, you simply:
- Take a photo of the check through your bank’s mobile app.
- Submit the deposit digitally.
- Receive confirmation of the deposit without ever leaving home.
This feature saves time and eliminates unnecessary trips to the bank.
5. Real-Time Fraud Alerts
While you can take several precautions to protect yourself, identity theft is still an unfortunate reality for some. In fact, over 14.4 million Americans were victims of identity fraud in 2019.
Criminals can utilize your credit by stealing your information, opening credit cards or even applying for loans in your name. Because of the risk of identity theft, digital banking is invaluable. If your bank’s mobile app allows, you can receive real-time mobile alerts about any changes made to your account. You can opt to receive alerts if there is a log-in attempt or if someone requests an account transfer.
SouthEast Bank customers can rest a little easier with 24/7 fraud protection through SouthEast Verifi. The bank team monitors your debit card for any suspicious activity and notes purchases that don’t seem to fit your regular activity, contacting you for verification before allowing the transaction to go through. Fraud monitoring adds a layer of protection for you and your account.
Unlock the Full Potential of Digital Banking
There are many advantages to both online and in-person banking, which is why it’s great to use them together to manage your everyday and long-term needs. Digital banking offers you contactless convenience, and more flexible access to essential financial services from anywhere. However, when you visit your local branch, you can receive personalized assistance from experienced team members who can help set up more complex transactions or accounts as needed.
Though everyday account activity deserves your attention, it shouldn’t take up all of your time, especially during a busy week. Digital banking offers security, flexibility, and convenience—all from the comfort of your home. Whether you’re paying bills, tracking expenses, or protecting your account, online and mobile banking help you stay in control of your finances. Take advantage of the digital banking tools offered by your bank to help you stay on top of your money and get closer to your financial goals.
If you’re a SouthEast Bank customer, you’re automatically eligible to enjoy digital banking through easy online banking or the SouthEast Bank app. Learn more about how to enroll now and begin managing your money digitally today.
Information contained in this blog is for educational and informational purposes only. Nothing contained in this blog should be construed as financial, legal or tax advice. An attorney, financial advisor, and/or tax advisor should be consulted for advice based on your circumstances.
Links to other websites or references to services or applications are provided as a convenience only. A link does not imply SouthEast Bank’s sponsorship or approval of any other site, service or application. SouthEast Bank does not control the content of these sites, services or applications.
