Many financial institutions offer online banking to better serve their account holders. This convenient feature is especially useful for busy young adults who are always on the go. If your financial institution provides this service, but you aren’t using it, use this guide to understand how it can benefit you.

What Are the Benefits of Online Banking?

1. Access to Transactions

Your financial institution’s secure online platform lets you look at your transactions at any moment, allowing you to monitor your cash flow. Keeping tabs on your transactions lets you see where you’re spending the most money, and you can use this information to help you budget for big purchases, like a car or home. Viewing your transactional record also helps you catch a fraudulent charge early, so you can address the issue promptly.

2. Pay Bills Online

Late or missed bill payments affect your credit score, which can make it harder to qualify for a home or personal loan. With online banking, you can pay bills at your computer or through a mobile device, eliminating the risk of a late mailed payment due to slow postal services. Additionally, you may be able to set up automatic, recurring payments so that you never miss a due date.

3. Transfer Money Quickly

If you manage multiple accounts, online banking will allow you to easily transfer funds between them. Moving your money freely ensures you’ll always have the right amount of funds in the correct account before making a purchase. You can also set up overdraft alerts so that you’re notified if an account needs a transfer.

If you want to enjoy the benefits of online banking, open an account with Hawaii County Employees Federal Credit Union in Hilo. Members have access to their banking information 24/7, allowing them to request account inquiries, pay loans, and perform transfers online. This credit union also grants members access to their virtual branch, where they can view past bills and register for automatic payments. To get more information about their services, visit the website or call (808) 935-2969.