If you also love the convenience of banking from your phone or computer, you’re not alone. According to a recent study by the American Bankers Association, more than half of bank customers prefer to bank using their mobile app, and 22% prefer to use online banking.

Let’s explore how digital banking can streamline your day-to-day and financial management.

5 Digital Tools to Help Simplify Your Money Management

1. Online Bill Pay

With digital banking, you can set up automatic bill payments for your rent, car insurance and even student loans. By signing up for automatic payments, you can reduce the risk of missing a timely payment and damaging your credit score.

2. Budget to Track Expenses

Many banks offer digital spending and budgeting tools available through online and mobile banking for customers, because they want you to have the resources to make smart decisions with your money. These tools automatically track and categorize your expenses, providing insights into your spending habits.

By using these budgeting features, you can:

  • See how much you spend in categories like dining, shopping, or entertainment
  • Set spending limits to help control expenses
  • Identify areas where you can cut back, such as reducing out-of-network ATM fees

3. Transfer Money Between Accounts

If you’re saving toward a major purchase — like a home or vacation — having a dedicated savings account can keep you on track. Seeing that savings account grow can help keep you motivated, and it helps you think twice before tapping into that money for other non-essential expenses.

Transferring money between accounts is often a simple and quick process with digital banking. You can set up automatic transfers to your savings account or make manual transfers whenever you receive extra income.

4. Use Mobile Deposit to Deposit Checks from Anywhere

Despite the rise of electronic payments, checks are still a common form of payment. If you receive a check but don’t have time to visit a branch, digital banking lets you deposit it directly from your phone.

5. Real-Time Fraud Alerts

While you can take several precautions to protect yourself, identity theft is still an unfortunate reality for some. In fact, the Federal Trade Commission reports that the dollar amount in losses due to fraud has only risen in recent years. Due to the risk of identity theft, it may be beneficial for account holders to utilize digital banking to enhance their vigilance over account activity and security with real-time mobile alerts about any changes made to their account

If you bank with SouthEast Bank, customers can rest a little easier with 24/7 fraud monitoring through SouthEast Verifi. With this tool, we can help monitor your debit card for suspicious activity and note any purchases that don’t seem to fit your regular spending patterns.

See the full article on digital banking: here.

Your financial journey starts with SouthEast Bank.

Olivia Johnson is marketing strategist for Southeast Bank.

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