Brick-and-mortar banking experiences that retired have trusted growing up are decreasing. You can be aware that these days bank closing is becoming common because more people are shifting to mobile apps and online banking. For retired people can be a bit of learning state, but once they make switches, it can open the world of convenience.
After all, you can do much more than checking your balance with online banking website or mobile app. Also, you do not have to get off your couch.
“Smartphone Apps is a great way for the bank,” a non-profit financial wellness counseling service is called Ellison Pahlkotter in Greenpath Financial Wellness, Innovation Product Designer and Research Analyst. “They are safe and often easy to use.”
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Retired people of banking services can digitally do
These banking services are popular. An American Bankers Association Survey found that more than half of American adults (55%) use mobile apps to do their banking while 22% use online banking via laptops or PCs. And it is not only technology-lover youth who embrace this method of banking. Fifty -five percent generation xers and 41% baby boomers are online banking.
Stephen Kates, a financial analyst of the banker, says it thinks of pure online banks – Ellie Bank and Sophie – offers better savings rates and low fees. They do not have a traditional bank overhead and, therefore, pass with savings for their customers.
If you are among holdouts or are new to the online banking world, then there is a look at all the things you can go to the physical bank.
1. Submit a check online
Most banks enable you to deposit checks through your mobile app using your smartphone camera – and it is easy to do.
Sign the back of the check like normal, write “for mobile deposits” under your signature, open mobile deposit facility on your banking app and take a picture in front and back of the check. You will be asked to input the check amount and click on the deposit – and you are.
2. Shop and apply for credit card
Whether you are looking for a cash back credit card or travel award, it is easy to search and apply for a credit card on your bank’s website or mobile app.
Many banking apps will provide information about the offerings of your credit card, let you find by specific features and even ask you to take a quiz that is right for you. The best thing is that it all gathered for you.
3. Get a car loan or mortgage
Even getting a car loan or mortgage can be digitally done through your bank’s app or website. Remember that the rates you get may not be the best, but if you have already done research and are ready to apply with your bank, it has become very easy for the bank’s mobile app and website.
4. Order online check
Most banks order you check through your banking app or website. You can usually find this facility under “account services,” “account facilities” or “order check” bank’s mobile app or part of the bank’s part.
5. Buy stock and bonds
This online feature usually requires a separate brokerage account (which you can set online).
Once it is made, you can buy stock, bonds, mutual funds, ETFs and even cryptocurrency from your bank’s website or mobile app. Some banks will allow you to join with a financial advisor by requesting you a call on the game or by schedule for a later date.
6. Check your credit score
Banks want to help you in creating, improving and maintaining your credit score; After all, the higher your credit score, the more likely it is to approve you for a loan and credit card, which makes them all money.
Most banks now work closely with one of the three credit rating firms-Experien, Transunion or Transmerica-or they can use third-party services to provide their credit score for free.
7. Search ATM
This tip is easy if your local bank branch is closed. Most banks have underlying features that let you have ATMs. You will get to know and distance from your home when you find. Some have a map that has to make it even easier to achieve.
Tap away, but with caution
Once you are hanging to use online banking apps, you may not want to bother to wait in the line in brick-and-door banks. Just remember that the price of such feature is that scammers are expected to get your retirement savings or break into other financial accounts. Therefore, take care with any online financial app you use.
