Online banking convenience has changed the way most people use their services. You can check your balance, order statements and transfer money fast and easy by going online. Your account is more manageable than ever before with security measures in place. It is more convenient to have your savings and checking account with the same financial institution. Mobile banking with your smartphone or tablet is gaining in popularity because of its convenience.
A checking account is the best place to put money you need for bills and regular expenses. You can view summary and detailed transaction activity for all of your accounts. Have your work paycheck automatically deposited into your checking account. Internet banking transactions in Malaysia totaled over $200 million dollars in 2014. Online banking services streamline the way you handle your money.
This type of account is the best place to put your money for things you want in the future. An online savings account (see UOB) lets you transfer money from your checking into your savings account. Choose a one-time transaction or recurring transfers with the click of your mouse. It is also easier to save money with the same financial institution as your checking account.
Credit cards are a wonderful thing when used properly. You should try to pay your credit card bills off each month. Carrying balances over will cost you more money in interest rates. However, you have credit card protection for your purchases, whether at a local retailer or online. Credit cards are a convenient way to pay for hotels, rental cars and other occasional expenses. Never use your debit card to purchase items online, instead use the protection of your credit card. A credit card is a great way to establish your credit history.
Overdraft charges are expensive and unnecessary if you check your bank balances each day. They can result in hundreds of dollars in fees that can leave you broke before your next payday. Make it a habit to log onto your bank accounts every morning to check your balances and avoid overdraft charges. You can opt to have overdraft protection, but you will still be charged a small fee, and the merchant will be paid.
Business and Personal Loans
A financial institution that offers business loans are convenient for business owners who need a little cash. If you have developed a relationship with your banker, then they are easier to get. Personal loans can be used for unexpected expenses or other reasons. You will be charged interest, but your payments are usually lower than other loan centers.
Home Mortgage Loans
Many financial institutions offer home mortgage loans that are competitive in the market. You can get a pre-approved letter of credit before you start shopping for a new home. Home mortgage loans at your financial institution may also make you more comfortable doing business with a company you know and trust. Talk to your banker to determine if you qualify for a home mortgage loan.