In a world where everything is accessible on the Internet, you might weigh the
pros and cons of mobile banking versus traditional banking. Here’s a breakdown
of what each is to help you decide what will work best for you.
Using your bank’s app or a web
browser, you can quickly access your account balance,
reconcile your checkbook, pay bills and make deposits. While it’s quick
and easy access, you’ll want to take extra steps, such as shredding a check
after you deposit it, to protect your security. Also, you’ll want to make sure
that wherever you access your accounts from, the security settings and software
are set up to help you avoid thieves hacking into your accounts. By this we
mean to strongly consider whether or not to allow your password to be
remembered by the browser or app and to set up two-factor authentication.
If you chose to go a more
traditional route, you may feel a stronger sense of security in that you are
face-to-face with a teller when you deposit checks and/or transfer funds. Plus,
you will get a receipt for the transaction. You may also receive your account
statements to be mailed to your home monthly to balance your checkbook,
allowing you to compare your check register side-by-side
to the printed statements. Traditional banking may also assume more of your
time to travel to and from your bank.