It seems like you can pretty much do anything and everything online nowadays. Not only can you shop with your credit card, but many online retailers will take money straight out of your bank account, or you can use one of many online paying apps like PayPal.
Most of these online money systems come with extra security to protect your funds from hackers and other fraud, but you always run some risk whether shopping online or even using your debit/credit card in a brick and mortar store.
There is a ton that can be done with online banking. These days people can pretty much live without having checks to write out. However, paying by paper check is still the preferred method for many people, and it’s made easier with the ability to order checks online too. Even businesses can order payroll checks online, if they still pay their workers the “old-fashioned” way.
Through online banking you can get paid by direct deposit, you can spend using your debit card, you can set up automatic payments and you can even authorize other types of payment withdrawals.
Most banks have apps now too, so you can check your bank account from anywhere, as long as you have a device that connects to wi-fi, like a smartphone or tablet.
PayPal and Their Counterparts
Even people without a traditional bank account can spend money online and get paid for sales and work. PayPal was the first big name most people have heard of when it comes to online money apps. However, they don’t have the corner on the market. There are numerous money apps, while PayPal continues to be one of the most popular.
For those that have been burned by PayPal, for one reason or another, some of the other recommended money apps include Dwolla, WePay, Amazon Payments and Square, among others. They all offer different fees and transaction times. PayPal offers a debit card, however, that members can use for offline shopping without the need for transferring their money to a bank account.
Not only can you spend with these accounts, but many freelance workers get paid through these apps also.
The millions of people using online banking and payment methods can’t be wrong. They’ve all found that the invention of the internet has made it so much easier for people to get through life, from the ability to work remotely to the ease of paying your bills online. While it’s still important to get out of the house every so often, now with online banking you could almost stay home forever.
Before paying online for something, ensure you are on a secure server. Regularly check your account status, whether it’s PayPal or your bank. Early detection of fraud can make it quicker to deal with.