If you have a bank account, but rarely check your balance or use tools included with your financial institution’s digital banking platforms, then you may be missing out on the benefits of having it in the first place!
Think of your bank as a partner in your personal finance. They can provide a safe place to store your earnings and help guardrail your spending and grow your savings. They also simplify your everyday money management by offering free or low-cost ways to cash your checks, pay your bills, transfer funds, and withdraw cash.
When you open a bank account, you gain access to these services and more. But it’s up to you to maximize the benefits that come with your bank account!
Let’s discuss what managing your bank account can look like as well as the role online banking plays in your overall financial health.
Practical Tips for Managing Your Bank Account
Managing your money effectively starts with understanding your bank account, which keeps a record of your spending, deposits, and any fees you may incur. You have the freedom to choose how often you engage with your account, but savvy account holders regularly use their account to help promote their overall financial health in the following ways.
Track Your Spending – Keeping an eye on your spending habits, including recurring payments or subscriptions you’ve opted into, can help you make choices about where you may want to increase or decrease your budget. Many accounts have integrated budgeting tools to help you stay on track.
Automate Bills and Fund Transfers – For monthly bills or recurring transactions, you can use your financial institution’s automatic bill pay options to help save you time and provide peace of mind, especially during busy seasons. If you have savings goals you’re working towards, link your account to a savings or Money Market account to transfer funds out of everyday use.
Catch Fraudulent Transactions or Errors – The sooner you notice any unusual activity in your account, the sooner you can reach out to your financial institution for support. Frequent monitoring might save you future headaches, since even frequent or recurring transactions can include errors that may over- or undercharge you.
Preventing Low Balances or Overdrafting – Many accounts include alerts you can turn on to notify you when your account balance falls below minimum thresholds or is in danger of overdrafting. Staying updated on your account can help you ensure you have sufficient funds to avoid penalty.
Make Adjustments to Your Preferences – Communication about your bank account can often be customized to meet your needs. If you’d prefer to receive paper or eStatements, you can do so by making updates to your account.
The good news is that, while your banking partner has a team of people happy to help you with your account in-branch, you can also do all of these things on-the-go with the help of your bank’s online banking platform and/or mobile app!
Use Online Banking for Everyday Money Management
Your bank’s digital banking options add to your in-person banking experience and empower you to manage your account on your timeline.
With mobile deposit and easy transfers, you can add funds to your account or move funds between accounts as needed. You can easily add your debit card to your digital wallet so that you can make easy, contactless payments from your phone. Also, ask your financial institution about services like SouthEast Verifi, which can provide real-time updates when changes are made to your accounts – such as account balance changes, transfers, login attempts, and more; or CardValet, which can help you manage multiple accounts and cards at once, both personal and business.
Access to your account through online banking and mobile app are automatic features included with your account, so take advantage of the ease of access and the simplified actions you can take yourself toward your financial goals. Start by regularly monitoring your account, which will help you stay on budget and avoid issues.
Your Financial Journey Starts Here
Technology is changing the way that customers interact with their bank accounts in many positive ways. Online banking can help you easily access your account, manage your funds, and prevent unnecessary losses. Take all of the benefits of your bank with you on your favorite device, and see how increasing your financial awareness can help you gain traction towards your goals.
Have questions about online banking? Contact our Customer Care Center with concerns you might have about enrolling or logging in to your SouthEast Bank account!
