It's retirement time, and the living is easy. Whether you're a snowbird heading south every winter or a jet-setter exploring the world, visiting grandchildren, and enjoying your freedom, you don't have to let your finances slow you down. While keeping your accounts and bills in order may seem complicated as you change addresses and lifestyles, it's easy with tools offered at most banks.
No longer a service for only the most Web-savvy, online banking is now used by more than a third of Americans. It is safe, easy to use, and can save you time. Here are a few reasons why you should consider opening an online banking account.
1. You can bank from anywhere. No need to open up a new bank account in each community you visit. With online banking, you can access your account anywhere, anytime. However, if you are traveling to a foreign country, check before you go to see if the ATM network you use is supported in the country you are visiting.
2. True convenience. These days, you can do many things online – saving you the time and frustration of dealing with separate statements, bills and accounts. For example, you can now view updated balances and transactions, pay bills, order checks, receive statements, place and verify stop payments, transfer funds, make payments on credit cards and loans, and submit credit and loan applications.
3. No more worrying about bills and statements piling up in your mail. With online banking, you can often elect to receive your statements online – which is faster and safer than having them sit in your mailbox until you get home.
4. Automatic bill pay. If you have a set bill each month, such as your mortgage or cable bill, you can set up your payment so it automatically happens at the same time each month.
5. Ease of access. With online banking, you can still use your checks, ATM and debit card to take out money and make transactions virtually anywhere.
If you take advantage of direct deposit for your pension, Social Security or other income, you don't have to worry about finding a branch of your bank in Florida, Italy or even Portland.
6. Financial planning at your fingertips. While online, you can also take advantage of many bank resources such as retirement calculators, interest rate quotes and investment research. In addition, most online bank accounts can be linked to Quicken, Microsoft Money and Quickbooks.
Richard Lucas serves as president for KeyBank's Maine district. He can be reached at 874-7298 or
richard_e_lewis@keybank.com
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