High-Tech Banking, 24/7
For young adults today, it's hard to imagine
life without gadgets and high-tech helpers.
We want to make sure you know about some of
the attractive electronic banking services
(online banking) enables you to transfer
money between your accounts at the same bank
and view account information, deposits as
well as loans, at any time.
Internet bill paying
you to pay monthly and one-time bills over
look like credit cards but they
automatically withdraw the money you want
from your account. You can use a debit card
to get cash from an ATM or to pay for
enables your paycheck and certain other
payments to be transmitted automatically to
your bank account. "Direct deposit is free
and it's fast — there's no waiting for the
check to arrive at home and no waiting in
the teller lines," said Kathryn Weatherby,
an Examination Specialist for the FDIC.
allows you to use your touch-tone phone to
confirm that a check or deposit has cleared,
get your latest balance, transfer money
between separate accounts at the same bank,
and obtain details about services.
from your bank account can be arranged free
of charge to pay recurring bills (such as
phone bills or insurance premiums) or to
systematically put a certain amount of money
into a savings account, a U.S. Savings Bond,
or an investment.
"Your banking can be so much more convenient
and easier to monitor and control when you
have access to your accounts 24 hours a day,
seven days a week, from your home or
practically anywhere else," added Weatherby.
First Federal provides this information as a
convenience to its customers. It is not
intended to be professional advice. First
Federal encourages you to consult with a
qualified advisor before making any
decisions based on this information.
FDIC Consumer News