Online banking in Canada is the fastest and easiest way take care of pretty much all banking matters, and is accessible to you 24 hours a day, seven days a week.
So if your closest branch closes, you can still do business. Banks also offer Apps for smart phones, which enable you to check your account balance, transfers and purchase history straight from your phone. You can also set up balance alerts, which will remind you when your account balance is low, or inform you of a purchase made. This can help ensure your card has not be duplicated or used for any unauthorized purchases.
When you open a bank account, you can go to the bank’s website and sign up for online banking. You should also see if it offers the option of a phone code. This makes it easier to speak to a customer service representative, as they can access your information by your entering this number, without you having to provide your debit card number.
An Interac e-transfer is a great way to easily send money to anyone, regardless of which bank they have use. It is safe and reliable, and removes the need for cheques. In your online banking account, you simply click on the tab for Interac e-transfer, select the amount you wish to send, add the e-mail address of the recipient as well as a security question (this should be something you both know the answer to), and click send. The transfer is then sent by email, and the recipient of the money can choose to deposit it into their bank account by clicking “accept” and answering the security question correctly.
Automatic Bill Pay
This feature that allows you to set up bill payments, which will come out of your account at the desired date. With such busy lives, often we forget the due date of bills, so this is a really helpful function.
Other Features of Online Banking in Canada
Online banking in Canada also offers easy access to applications for loans, lines of credit, credit cards, increase in credit limit, and it is often a lot easier and faster than going to a bank and applying with a teller or manager. It also allows you to browse information and compare different credit cards and loans before making a decision as to which one suits your needs.
(Photo Credit: Don Hankins, Creative Commons)