With 71% of Millennials disclosing that they’d rather go to the dentist than listen to a bank, it’s only natural to assume that they’d move their finances to a more convenient platform, such as online banking. Money management tools, different forms of lending, and even the ease of access through mobile devices ensure that they no longer have to set foot in a traditional banking environment. Discover which online portals, apart from internet banking, make online money management a breeze.
Fast And Simple Payments And Fund Receipts
Thanks to innovators like Elon Musk and Yuval Tal, there’s no need to spend hours in a banking hall trying to resolve international payments and transfers anymore. This costly exercise has now been whittled down to a small percentage thanks to sites like PayPal and Payoneer. Other payment portals that are climbing the ranks fast include Venmo and Dwolla.
Banks That Dumped The Traditional Format
When it comes to innovation in the land of internet, banks are finally becoming innovators and banks such as Ally Bank and National Bank of Australia have committed their journey to the cashless society. For clients, this means the ability to do all their transactions online, even the hairy ones. But applying online and sitting with a consultant to go through a hairy application are two different things, which is why the client should be prepared. According to Crediful, customers can check all their information before applying for their product, such as ensuring their credit scores are in order and that they have the correct documentation.
Online Money Management Also Means Knowing What You Spend
While payments and loans online feel like innovation, something that deserves a round of applause is the number of online portals that help consumers manage their funds better. Sites such as Mint and EveryDollar provide consumers with a wide range of budgeting tools. Some have access to the bank account which makes tracking expenses a little easier. They also allow consumers to set up their budget, which makes it easier to notice overspending. These sites also link up to mobile apps, which means money management on-the-go.
The ability to do everything from a single location means that consumers have more time to do the things they want. Online money management frees up time and saves customers a ton in fees. It also opens up the door to great innovation which provides users with the tools to become financially free.