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 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 timely payment and damaging your credit score.
With automatic payments, it doesn’t matter if you’re away on vacation or are simply busy. You can relax knowing that, as long as you have sufficient funds in your account, you’ll have oversight over your bills being paid on time.
2. Budget to Track Expenses
Many banks offer digital spending and budgeting tools available through online and mobile banking for customers, because they want you to have the resources to make smart decisions with your money. 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 helps you think twice before tapping into that money for other non-essential expenses.
Transferring money between accounts is often a simple and quick process with digital banking. 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 common forms of payment. 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 following the process provided
- Follow your institution’s guidelines about responsibly handling your check once it’s been deposited digitally, and enjoy the funds once they’ve been posted to your account
This feature saves time and eliminates unnecessary trips to the bank, even for more than one check at a time.
Note: Confirm with your bank about daily transaction limits, which may hinder the check amount or amount of checks you can process via mobile deposit during a given time.
5. Real-Time Fraud Alerts
Scams, fraudulent purchases, and identity theft are an unfortunate reality to consider when practicing money management. In fact, the Federal Trade Commission reports that the dollar amount in losses due to fraud have only risen in recent years.
Fortunately, many banks offer account holders tools to help increase vigilance over their account activity and safety, including fraud services. Many bank mobile apps give you the option to receive real-time mobile alerts about any changes made to your account, which may help prevent unauthorized log-in attempts or account transfer requests. For instance, SouthEast Bank offers 24/7 fraud monitoring for debit cards through SouthEast Verifi, which automatically adds a layer of protection for customers by working with you to help identify and prevent fraudulent purchases.
We know how distressing it can be to be the victim of fraud, and how time-consuming it can be to recover from a potential fraud-related loss. Being a proactive account user and opting into fraud services from your bank may save you that time and loss.
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. When you contact our Customer Care Center or visit your local branch, you can receive personalized assistance from experienced team members who can also 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 options like 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.
