Using Technology to Remain Financially Fit

Monday, July 22 at 11:40 AM
Category: Personal Finance

If you're interested in trying new bank technology, but you're not sure what's available here’s an overview of some current services.

Personal financial management and budgeting
Financial planning tools, often referred to as personal financial management software, can include electronic check registers on your home computer (which many consumers will find much easier to use and balance than a paper check register) and "companion applications" for your smartphone that allow you to access your electronic check register wherever you are.

Mobile banking services go one step further by allowing you to access your account from anywhere using a smartphone, tablet or other device. An estimated 30 million Americans currently manage their finances using mobile devices.

You can also find free online budgeting tools to help track your spending by category and help you meet your savings goals. Online calculators help you figure out such things as whether you should refinance your mortgage or how much you need to save for retirement every month.

Depositing checks using your smartphone or other mobile device
Mobile check deposit allows customers to take a picture of a check with their mobile phone and deposit the check electronically, without visiting a branch or using an ATM. This service is becoming popular, especially among customers who want one less errand to run. 

If you use mobile check deposit, then carefully keep track of the checks you deposit. For instance, you can write the date you deposited the item on the front of the paper check and hold onto it until the check has cleared and the money is in your account. Then you can destroy the check, preferably using a high-quality paper shredder.

Account alerts
Many mobile banking systems allow you to sign up for emails alerts like if your account balance drops below a set dollar amount. Log in to Arvest Online Banking to set your email alerts. If you prefer, you can enter your phone’s email address and receive the alerts as text messages.

Pay bills online
Another great option is Arvest Online BillPay which allows consumers to pay companies from within Arvest Online Banking. You can sign up for Arvest Online Banking at any full service Arvest branch or at arvest.com. With this service, you can.:

  • Receive bills and make payments through the internet
  • Schedule payments in advance
  • Set up repeating payments to be paid continually and automatically at the frequency you specify

Financially Fit
By exercising your options to bank from your computer or mobile device, you are putting yourself in a position to be stronger and more proactive about your finances.

Tags: Financial Education, Mobile Banking, Technology
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