Banks continue to make online tools increasingly functional, both to increase their usefulness and reduce reliance on human tellers. This makes your banking experience easier and helps to improve their bottom line by cutting back on staffing costs. It's a common business practice in the modern age, but in order to maximize the usefulness of these tools it's important you understand what they are and how they can be made to work for you.

Tools to Look For

With so many different online tools being implemented, it can get downright confusing when it comes time to weigh their value. A few online functions can greatly reduce your reliance on bank personnel, though, so it's a good idea to identify them outright. While these alone might not be cause for switching financial institutions, they can be a definite selling point for more modern-minded consumers.

Look for online tools that allow you to set up direct drafts through your banking institution, since these payment methods are normally more affordable and can be fully controlled by you. It's also a good idea to be aware of transfer functions, such as those that allow you to send money to other accounts or withdraw from accounts you control. Limits may be imposed by your specific bank, such as restricting the amount of each individual transfer or placing a waiting period on a transaction, so be on the lookout for these.

Less Common Functions

Often there are a few banking tools that aren't quite as useful and thus tend to be offered less often by some banks. It may not be worth the effort to implement the functionality due to the low frequency of use, or it may simply be a lack of requests from customers. Either way, there are a few less well known tools that you may have access to which can be found with some banks.

Online banking tools may include the option to order new checks from within your account page, saving you the time and trouble involved in ordering them through a local branch or a third party. Similarly, some banks can print a paper check and send it to a recipient you name, though in both cases there is normally a nominal charge for the service. Finally, some banks may also allow you to link credit cards to your primary account, which can simplify paying these bills directly rather than browsing to a different site.

Online banking tools can be a great way for a bank to add value to their services without significantly increasing their operating costs. While there are more important factors to consider when choosing a bank, it's worth evaluating their online tools in order to make the most well-informed decision possible.

For online banking, contact an organization such as Western Bank.