The Perks of Online Banking

By Tiffany Williams, Managing Executive, FineMark National Bank & Trust office at Shell Point Retirement Community

While paying bills online may seem a bit foreign if you are used to making a trip to the bank, you can rest assured that it is a safe and convenient way to make payments. In fact, online banking with bill pay is becoming the preferred method for account holders to pay their bills. Consider the following:

  1. Multiple payment options allow you to make payments the way you want. Choose from manual or automatic payments, customizable payment options, and the ability to use multiple-funding accounts and types.
  2. The ability to make same-day payments helps avoid late fees and finance charges. Most online payments can be made 24 hours a day, seven days a week.
  3. Online statements and online bill pay are environmentally friendly because they cut down on the use of paper; not to mention money spent on stamps.
  4. Online banking is safer than you think. Although there’s a perception that electronic transactions are riskier and leave you exposed to identity theft, the reality is that paper may leave you more vulnerable than a 128-bit encryption. Paper checks touch, on average, between 11 and 18 hands in the payment cycles. And paper bills containing your account information can leave you exposed.

As always, when entering any personal information online, be sure you always use your personal computer. Putting personal information into a public computer, like at the library, could put you at risk. If you have more questions about paying your bills online, consult your bank or trusted financial advisor. FineMark National Bank & Trust also has an office on The Island at Shell Point Retirement Community.