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Benefits and Safety of Using Online and Mobile Banking


Benefits and Safety of Using Online and Mobile Banking

5 reasons to get started today

Depositing your paycheck with an image, transferring funds online and checking your balance on the go are more and more commonplace. Millions of people use mobile devices for their everyday banking needs. Mobile banking is also becoming more popular with older generations who were previously hesitant about it. Just two years ago, baby boomers were among the smallest group of mobile banking users. Since COVID-19,  46% of baby boomers have been using online and mobile banking.

Even before the pandemic hit, mobile app banking was also on the rise among small business owners. According to a J.D. Power 2019 U.S. Small Business Banking Satisfaction Survey, 61% of small businesses use their bank’s mobile app, up 8 percentage points from the previous year.

If you haven’t tried online and mobile banking or want to know more about the benefits and safety measures, read on.

Bank no matter where you are

One of the most obvious benefits of mobile banking is you’re not limited by physical space or time. You can transfer funds from your couch, access your account at midnight if needed and quickly check your balance while you’re on vacation.

Keep an eye on all transactions

Mobile banking makes it faster and easier for you to stay updated on transaction statuses, including payments and fund transfers, without having to contact your financial institution. The ability to instantly access your account records adds an extra layer of comfort and protection.

Make bill paying easier

Sending checks by mail to pay a bill can be risky if your payment gets lost. Making sure you remember to pay each bill on time can also be a hassle. Online banking makes bill pay easier. Depending on what type of payment you need to make as well as your personal preference, you can choose from automatic payments or single payments for your rent or mortgage, water, electricity and more.

Bank faster

Whether a physical check arrived in the mail or you need to transfer funds, a banking app makes managing your finances fast and easy. There’s no need to drive to your nearest branch. Not to mention, online and mobile banking requires zero physical contact.

Is mobile banking safe?

Mobile banking with Greater Alliance This question reflects one of the top concerns people have about logging on to a website or using a banking app. Online and mobile banking is much more secure when you take certain precautions.

First, never access your accounts over a public Wi-Fi. If you are accessing accounts on the go, connect through your cellular data or a VPN.

Second, if your financial institution offers multifactor verification, make sure to enroll. Greater Alliance’s multifactor verification keeps your accounts more secure than ever—members who enroll are three times more likely to avoid fraud. By entering a security code or tapping a push notification, it becomes very difficult for a hacker to access your account.

And finally, mobile app banking, like with the Greater Alliance FCU app, is often safer than accessing your account through a website. That’s because mobile apps don’t store data, and mobile devices are significantly less likely to get a virus.

Go online with us

When you’re ready to start mobile banking, Greater Alliance’s online options let you take care of almost anything digitally or on the go. You get fast, secure online access to your monthly account statements as well as eNotices and eTax forms. Pay all your bills in one place and connect all accounts and investments in just five minutes.

With our mobile app available for Apple or Android® users, you can also deposit checks and choose various ways to transfer money. If you have any questions about sensitive account information, we also offer a secure, encrypted online chat. Want more information before you decide? Give us a call or schedule an appointment today.