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 beyond ATMs.

Internet banking (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 allows you to pay monthly and one-time bills over the Internet.

Debit cards 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 purchases.

Direct deposit 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.

Telephone banking 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.

Automatic withdrawals 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.

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.

Source: FDIC Consumer News