The Future of Online Banking
Looking ahead in to the world of online banking.
As we enter the middle of summer and continue through this tough recession. The number of U.S. banks shut down has increased to a total of 69. The Consumer Federation of America has released reports on rising overdraft fees. It is no question that banks will be looking to do more to save money and maximize income during this challenging economic cycle. Keeping both the consumer and business views in mind can help give insight as to where the banking industry might be headed.
Most banks today now offer outstanding online banking systems. These user friendly services save time for both the banking staff and customer. You can check your balance, schedule transfers, pay bills, and even store away important digital documents on your bank’s secure server. A quick query on Google Trends shouts loud and clear that people are ready to participate in the future of banking. You can bank online with most any major banks including Bank of America, Wells Fargo, Citibank, HSBC, and Chase.
So what’s next? With increasingly savvy consumers armed with all the knowledge of Google, even these big banks will have to begin offering additional account types, services, as well as pass savings on to the customers. However, we need not wait to look ahead at what could be next for the online banking customer. Already there are banks located strictly in cyberspace offering innovative products, higher interest rates, and special foreign currency savings accounts.
The popular INGDirect.com offers savings and CD accounts at highly competitive rate. Over at Everbank.com you’ll find a full service online bank offering all sorts of account options, including interest checking and forex CD investment accounts. When you combine traditional banking services with sites such as PayPal.com, GoldMoney.com, and online brokerages such as ThinkOrSwim.com, it is already possibile for a customer to tailor their banking experience for maximum convenience, ease of use, and any sort financial planning requirements.
11 Comments
This is pretty neat, can help many people. Good job. =)
I like the idea that we can bank unfortunately according to article it’s also putting people out work is the the part I hate.
Good write Aaron – Online banking accounts do pay a higher rate of interest than your brick and mortar competitor.
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Not bad!
Great post! Very informative.
I always thought that bankers were crooks, but the recent events have convinced me that they are much worse. What do you say about Letterman?
This is good post.
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Good article.