The term digital bank may not mean much to you now, but that’s sure to change in the next few years. As more people make the switch from physical banks to mobile apps, you’ll see mobile banking become an ever-larger part of your financial life. In fact, using mobile banking can help you save money and improve your financial health overall — as long as you choose the right digital bank to work with! Here are five reasons why you should switch to a bank app as soon as possible.
When most of us think of digital bank accounts, we imagine account balances and transactions on our phone or tablet screen. But what about security? Most mobile banking apps are just as secure as traditional online banking accounts. This is because both use online connections that encrypt your data so that only you can see it (although it's best to stay away from public Wi-Fi when doing bank business). Banks also rely on digital security systems such as 2-factor authentication. This means when you log in with your password, you'll have to provide another piece of information (like a code texted to your phone) before you're granted access.
The Federal Deposit Insurance Corporation (FDIC) insures most bank accounts up to $250,000 per depositor. You won’t pay a fee to use any of your FDIC-insured accounts—or you can keep multiple accounts and enjoy additional perks at no cost. When you open an account online, it will come with free mobile banking apps for on-the-go access. These apps usually have live chat features and fraud alerts, too. The bottom line is that bank apps don’t only give you quick and easy access from your phone; they also provide extra security measures so your money is safer than ever before.
Banks are adapting to our digital world by providing smartphone apps that make it easier for people to manage their money. Check out five reasons why you should switch from your bank’s website or mobile app and opt for an app instead. There’s always a new way of doing things, so why not learn about all of them? You may find that something better suits your needs or that you want something different entirely. But remember, just because technology is available doesn’t mean you have to use it. Banks aren’t legally required to provide apps and there are plenty of customers who like managing their money via the internet, so if one works well for you—keep using it!
Bank apps give you on-the-go access to your money and bank information. In other words, if you’re in between transactions or just passing by an ATM, you can check your balance or find out how much you have in your account without having to make an extra stop. A bank app can be easily accessed at any time, from anywhere with an internet connection. Some apps allow you to deposit checks via your smartphone. Using one allows you access to your financial information whenever you want it. As long as you have service, you’ll always be able to stay on top of your finances and make adjustments when necessary—and don’t even get us started on mobile check deposits (finally!).
People who bank digitally tend to have better customer support experiences than those who bank in person or by phone. There’s often less waiting involved, and more ways for users to get their questions answered. Also, automated systems make it easier for consumers and businesses alike to get help with issues like fraud alerts or overdraft charges—you can even deposit checks remotely. If you’re looking for a way to cut back on time spent at your local branch, banking digitally could be just what you need.