You might remember the days when banking was strictly conducted during certain office hours, and as a customer, you simply had no choice but to follow the banking protocol. Happily, those days are behind us now, and with online banking facilities, there is almost nothing you cannot do once you have logged in on your bank’s website. Mobile connectivity allows a person to transfer money or pay a bill with their smartphone, and with many other benefits, banking has never been this convenient.
Bonus Interest Payments
Some banks offer extra interest if certain conditions are met, and this can add up to a significant amount, and it is designed to encourage users to take full advantage of the many services on offer. If you are new to banking, it has never been easier to apply for a new bank account to start saving, and you can do this without having to visit a branch. All you need to do is set up an automatic transfer and deposit at least RM500 per month and you qualify for an extra 1.20% per annum.
This is no longer the inconvenience it once was, and most people remember endless queueing to pay a utility bill or two, but fortunately, this is no longer the case, and if you regularly pay at least 3 bills with your account, you can expect to receive another 1.20% per annum, which is paid into your account the following month. The network of companies that allow online payments is very long, and the chances are that your bills can also be paid this way.
Pay by Credit Card
If you prefer to pay your bills by credit card, some banks will give you extra bonus interest, and that is on top of any other benefits using your card might bring. If you have multiple cards, any of them can be used for this promotion, and you can earn bonus interest providing you meet the requirements.
If a friend or family member is stranded somewhere and they need some quick cash, you can instantly transfer money from your mobile device, and they can access the cash via an ATM. Technology provides added security and with biometrics, you can use your fingerprint to access your account, which is a guarantee against fraud.
Some banks have their own mobile app, which can easily be downloaded, and this gives you all of the online services at the touch of your screen, and with password protected access or a fingerprint scan, your transactions are safe from the prying eyes of potential criminals.
Attractive base interest rates offer the account holder a decent return and if you meet all the requirements, you can also collect bonus interest payments, which are automatically deposited into your account every month. If you would like to know more about the benefits of online banking, an online search will reveal the whereabouts of suitable banks that offer online services.