Almost every bank offers online banking. That’s a good thing because it allows you to check your balance and pay your bills from the convenience of your home. If you remember to pay bills while you’re on the go, you can even use your phone. Nevertheless, there are still some myths circulating around online banking that simply aren’t true.

Online Banking Myths Debunked

1. Mobile Banking Poses Security Risks

It’s true that data breaches have been making the rounds, affecting computers and even sales terminals. The good news is that mobile banking may be safer than using a computer, because it’s more difficult to hack your phone. The reason behind it is the large number of different phones, which would require hackers to dedicate a lot of time trying to compromise each one. Additionally, it’s more difficult for hackers to make modifications to your phone than your computer, because phones are not built to allow them.

2. Checking Your Balance Is a Hassle

One reason to check your balance regularly is to detect illegal account activity right away. Whether you check your balance on your PC or phone, you can do this anytime without waiting for your statement in the mail. Most financial institutions have made it easy to use their website on the phone, too. Some even create a mobile app to further speed up the process.

3. Online Banking Doesn’t Offer 24/7 Access

Your credit union is certainly not open 24/7, and you probably won’t be able to receive phone support around the clock, either. But online banking is available at all hours of the day. If you wake up in the middle of the night, because you forgot to pay your electric bill, you can fix it right then and there. With mobile banking, you don’t even have to get out of bed.

Are you looking for a financial institution that offers reliable online banking services? With hundreds of millions of dollars in assets and over 50,000 members across Hawaii, Hawaiian Tel Federal Credit Union is one of the leading financial institutions in the state, with a reputation for combining personalized service with technologically advanced personal banking solutions. Learn more about their broad array of services online, follow their Facebook, Twitter, and Instagram for news and updates, or call 832-8700 on Oahu or toll-free at (800) 272-5255 with any questions.