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There really are very few things you still need to go to a bank to do. Most of your day-to-day banking can take place wherever you are, thanks to your phone. Banking and credit union apps are getting really sophisticated, and even if a feature isn’t available from an app, you can use the bank’s website or email someone to get help. help, rather than calling or having to visit your local bank branch. If you’re not sure what your phone is capable of, here’s a list of all the banking transactions you can perform virtually.
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Check your balance
Instantly see how much money is in your account wherever you are. You can see all your accounts at a glance, including checking accounts, savings accounts, and any joint accounts you have access to. This way you don’t have to stop at an ATM to see what’s left in the bank.
Deposit a check
It really is a game changer. Many banking apps have a feature that lets you use your phone’s camera to capture images of a check and deposit it directly into your account. Most of the time, you can see this check appear in your account the same day you deposit it. You don’t even have to use Wi-Fi to do this. Anywhere with cell reception, you can take a picture of the check and have access to that money soon after.
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Transfer money between checking and savings accounts
Need to move money? You can do it on the go. Using your bank’s app, you can transfer money from your savings to checking and vice versa. Just make sure that if you withdraw from your savings account, you keep it within the six transactions allowed per billing cycle.
Transfer money to someone else’s account
If you want to transfer funds to someone else’s bank account, you can set them up as the recipient. All you need from them is their bank name, account number, and routing number. You can set up recurring payments or limit yourself to a one-time transfer. You can also make payment through Zelle. Zelle works similar to Venmo, but it’s done through your banking app, so whenever you want to pay someone through Zelle, you can enter their phone number or email to transfer money.
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Pay the bills
You no longer need to be at home with your checkbook to pay all your bills. Simply set them up as recipients in your banking app and pay the bills as they come in your email, wherever you are. You can also set up automatic payments so you never forget to pay again.
Configure security alerts
Keep an eye on your account at all times by setting up alerts in case of suspicious activity on your account. Most banks allow you to customize how and when you are alerted. Whether it’s an unusually high withdrawal or a suspicious payee, you can get a text, email, or call from your bank (or all three to be super vigilant) to let you know. as soon as possible. These alerts also give you the option to check the throughput. That way, if it’s not a suspicious charge, you can continue to use your card.
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Report your lost or stolen card
If you’re on vacation or just really busy, it’s hard to fit in a trip or a call to your bank. Now you can easily file a report on your phone so that your bank flags your account as lost and begins the process to ship you a new one.
Although checks may seem like a relic of the past, there are still crucial times when you need them. Your bank most likely offers an option in their app or online to place an order for checks that can be delivered or picked up when you need them.
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Get financial advice
You can find many financial planning resources online, and your bank can offer solutions tailored to your needs. You might even be able to build a personalized budget or debt repayment plan using online tools provided by your bank.
Apply for a loan
Although you may need to meet with a credit counselor at some point, you can apply for a loan online using banks’ online application forms.
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