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June 15, 2020

7 Ways to Manage Finances Safely with Online Banking

Credit union members are banking from home safely and securely

These days, as long as you have access to the internet, you likely have access to a full-service financial institution from the comfort of your own home. Online banking gives people instant access to a full range of services from their computer or mobile device, which makes managing finances easier and safer than ever in the current global environment.

Physical banks and credit unions aren’t going away, but in a world where we’re spending more time at home and have the opportunity to better utilize technology, these online banking services can help make your financial life a little easier:

1. Check account balances: Perhaps the most-used feature of online banking is the ability to check account balances online. After all, it’s critical to know how much you have in your bank accounts and then decide how much of your total balance is available for spending.

2. View retail transactions: You can view your checking account history with a few simple clicks. This includes viewing all of your account transactions for any given month, along with details on deposits and withdrawn checks.

3. Transfer funds: Access to online banking has made transferring money between bank accounts easier than ever before, whether it’s moving money from one bank to another or transferring between accounts in the same bank.

4. Pay bills: Online bill pay lets you make single or recurring electronic payments, making it easier to organize your bills and pay them when they’re due.

5. Access financial planning resources: If you’re thinking about applying for a mortgage and want to figure out how much home you can afford, or you want to see how long it will take to reach your savings goal, CBC Federal Credit Union has online resources that can help. These financial calculators provide quick and easy answers to help plan for home financing, investments, retirement and more.

6. Send money to anyone from anywhere: With online banking, your money can be on the go, even if you’re not. For example, CBC EasyPay makes your money move faster and safer than ever before. You can send money to anyone from the comfort of your own home using online banking or with the CBC e-Banking app, which also allows members to deposit checks electronically up to $5,000 per day. Money is debited from your account in real time, and recipients get an immediate notice via text or email that money has been sent to them.

7. Safety and security standards: Online banking, while convenient, can make users feel vulnerable. After all, instead of robbing a physical bank, cybercriminals could hack and steal with a few simple keystrokes. But institutions such as CBC Federal Credit Union understand the sensitive nature of your financial records and have taken measures to make members confident in their online security standards. These measures include enhanced login security and multifactor authentication.

As a CBC member, you can be sure your online accounts are backed by robust technology, but to take matters into your own hands, there are protective measures you can take. For example, skip public Wi-Fi when banking. With a public network, you can’t be 100% sure who sees your transactions. Similarly, make sure your computer’s antivirus software is always up to date.

Time to get started

Online banking can free up time you’d normally spend at a bank or credit union branch and allow you to regularly monitor your finances. While you may still visit a branch occasionally if you need a notary or other brick-and-mortar-only service, the convenience, savings and ease of online banking make it an excellent option for managing your finances.

CBC Federal Credit Union’s online and mobile banking gives you secure, 24-hour access to your accounts. You can view your online banking accounts (and open new ones), apply for loans, set up account alerts, receive e-statements and more. This online banking community helps you manage your accounts in an easy, customizable way, allowing you to accomplish much of your banking needs from a computer or smart phone at any time.

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