American Consumer Credit Counseling explains five ways consumers can utilize online and mobile banking more effectively
Boston, MA – May 31, 2019
Online banking allows consumers to manage their accounts on their computer or mobile device instead of having to visit the bank each time they need to make a transaction. As online and mobile banking apps have become more sophisticated, there are additional ways for consumers to take advantage of these tools. To help, national nonprofit American Consumer Credit Counseling (ACCC) explains five ways consumers can utilize online and mobile banking to take control of their finances.
“Online and mobile banking allows consumers to perform more tasks remotely and to more effectively manage their finances,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “Having the ability to perform your banking needs online, wherever you are, saves time and allows you to take control of your finances and stay up to date with all of your payments.”
A survey by Citygroup, Inc. found that 91 percent of consumers prefer using their mobile banking app to going to a physical bank branch. According to ValuePenguin, of the consumers that primarily use mobile banking, almost all (94 percent) use it to check account balances or recent transactions, followed by 58 percent who use it to transfer money between bank accounts, 56 percent who receive alerts, 48 percent who deposit checks using their camera, 47 percent who use it to pay bills and 36 percent who use it to locate the closest bank branches or in-network ATMs.
ACCC explains how consumers can use online and mobile banking.
- Paying bills – Instead of writing checks, consumers can transfer money electronically to pay their monthly bills. They can even set up automatic payments to ensure they pay on time each month.
- Check balance – Consumers have the ability to check their balance whenever and wherever they want. By checking their balance frequently, consumers can report any suspicious activity they notice to their bank immediately.
- Make transfers – With online banking, consumers have the ability to transfer money from their checking account to their savings account whenever they need or want. They even have the ability to link accounts from different banks if necessary.
- Deposit checks – When consumers receive a check, the fastest way to deposit it into their accounts is to snap a photo through their mobile banking application.
- Apply for loans – Consumers can skip the paperwork and apply for loans online through their online banking account. The bank is able to check the consumer’s credit at a faster rate and get back to them quickly with a response.
ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:
- For credit counseling, call 800-769-3571
- For bankruptcy counseling, call 866-826-6924
- For housing counseling, call 866-826-7180
- Or visit us online at http://www.ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft, senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to ConsumerCredit.com or visit https://www.consumercredit.com/debt-resources-tools/