The Internet has revolutionized the way we research, communicate and shop — and  now it's changing the way we bank.  Consumers now have the opportunity to perform banking functions online. Some virtual banks offer customers everything a traditional bank provides, such as checking and savings accounts, as well as certificates of deposit and money market accounts, at very competitive rates.

What else can online banks provide? Besides providing basic deposit products, online banks allow you to check your balance, transfer funds and even pay your bills from the privacy and comfort of your own home. Some banks even reimburse you for ATM charges.

What should I look for in an online bank? Because security and privacy are such important issues on the Internet, if you are going to bank online, you need to know and trust your bank. Make sure your online bank gives you the option to talk with a person if you have questions about your accounts.

Meanwhile, here are some additional questions to ask yourself:

• Are you comfortable with banking online? Do you feel you are, or would like to become, Internet savvy and do you enjoy the options of self-service and customer service the Internet can provide?
• What kinds of services do you want and need? Will your online bank be able to provide those services?

• Do you want to centralize your financial activity? Companies are now handling a wide range of services; you can handle your banking and insurance needs all at one online location.

Banking online provides a convenient alternative to traditional banking. If you’re ready to bank online, find a bank that best suits your needs.

Submitted By Tracy Murr 928-445-8500