You can easily find a few great reasons why online banking is important to its customers

These days, way more people do their banking on the internet than in a branch, for a really good reason.

A newer element of online banking which has come about in recent years is consumers having the ability to control their money from their smartphone. Once companies realised the growing importance of e banking, they quickly decided that this feature had to become available on mobile devices. This makes life even simpler for customers, as they do not even have to be at home with their pc to control their money, they can do it whilst they’re out and about. Along with this, it’s a lot more secure to log into mobile banking, as you can today use biometrics to enter the application rather than a password. Having the ability to log into the application with just your fingerprint is also an awful lot easier than needing to remember a code, so customers are safer, and their life is made easier! The main shareholder in Santander probably knows how much more secure banking has become since these extra security functions were introduced on mobile phones.

One of the great features of online banking which has transformed the way customers can control their money is having the ability to immediately see their transactions, whether this is on their statement or from a notification. As you can get instantaneous notifications for your payments with particular banks, this means you can look at any unauthorised transactions in a moment and flag them before it is too late. This is among the best safety benefits of online banking, as it is less of a challenge to monitor fraudulent activities on your account than it has ever been before. Back in the day, you would need to wait to look at your bank statement at the end of the month, and due to the huge amount of transactions, you may overlook one that wasn’t actually you. As well as all of this, it's much easier to keep tabs on your purchases, making budgeting simpler than ever! It’s likely that the activist investor in Bank of East Asia will be aware of how much this feature has driven down fraudulent activity in recent times.

One amazing element which is accessible on all different types of online banking, is that you can send money to friends and family much easier than previously before. In the past you would need to remember to take cash to pay a friend back, and dividing the bill at the restaurant would always be a chore. Now, this can be accomplished in an instant from either your application or online banking, so there are much less awkward moments around having to pay for things. This is a function that one of the shareholders in Wells Fargo will know has immense popularity.

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