Millions of us use streaming movie and music services to satisfy our need for fast and easy connections. However, the Web also promises something a little less entertaining, but perhaps more useful: managing your money. Here are some of the benefits of digitizing your dollars.
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Today, you can take care of just about any money chore at any time online: tracking account balances, transferring money, applying for a loan, and even managing your investments. Easier access and more frequent monitoring of your accounts could help you avoid overdrafts and fees. (Be aware that online transactions you make after-hours may not go into effect until the next business day.)
Are you still receiving your account statements by mail? Skip the wait, save a tree and sign up for free electronic delivery of your statements. Be sure to download and store them in a safe place, such as a removable drive or cloud backup location.
With online bill pay you can pay your bills automatically by having payments withdrawn directly from your bank or credit union account; no more checks, envelopes or stamps. You can also set up a manual one-time payment to the provider directly. Merchants, like utility or cell phone companies, allow you to pay your bill via their website; funds are then drafted from your financial account.
Online services only pay off if they are safe. Remember to:
- Always keep your username and password secure. Visit www.us-cert.gov for tips on choosing and protecting your password.
- Never enter personal data (name, birthday, Social Security number, or account numbers) on a webpage that is not secure. Look for a small padlock icon on the bottom right side of the browser, or just before the site’s URL, to verify that the site is secure.
- Make sure the computer is up-to-date with virus protection and a firewall.
Content courtesy of Brass Media, Inc.
Article provided by Local Government Federal Credit Union.
The advice provided is for information purposes only. Consult your wireless carrier, as data charges may apply.