How Online Banking Adds to Your Financial Peace of Mind

By Rico, 7:07 am Thu Mar 18 2010 - Tips & Tricks - 4 Opinions

Take the time to sign up for the correct online account, and you’ll save a lot frustration derived from checking your ATM account.

Find Out if You Have Money—Before Going to the ATM

Raise your hand if you’ve experienced the following: you’ve gone through a lot of trouble excusing yourself from work, to have the time to withdraw money from your payroll ATM account to deposit into your main bank account. Problem is, after rushing from the office, either all nearby ATM machines are down, or worse, your salary hasn’t been credited to your account yet.

You can avoid the resulting frustration by simply registering for your bank’s online banking system. At the very least, you won’t have to leave your computer to see if the money’s come in. You can then withdraw from the ATM at your leisure, confident that the funds are available.

Transfer Money and Pay Bills Online

Even better, any local online banking service (or at least those worth your time) make it possible to pay bills and transfer money to other accounts—even to other banks. Depending on the bank supporting the online banking service, it will take a day or so to register, and properly “enroll” your cell phone, utility bills, credit cards, etc. into the system. You most probably have to appear personally at the home branches of your accounts.

Yet once everything is set up, you can literally pay off everything and even schedule money transfers, all from the comfort of your internet-capable device. In most cases, paying off bills or transferring money through most online banking services is free.

List of Online Banking Services in the Philippines

I currently have a BPI Express Online account. I use it to pay off my credit card and cell phone bills, and move money from my payroll account to another account I’ve set up to never touch except in emergencies. Other major banks have their own online banking service; here’s a list to help you out:

I doubt if that’s a complete list, so if you use an online banking service not listed above, feel free to share below! Update: Reader mobius just shared bancnetonline, which supports multiple banks, and is an alternative service for some of the institutions I’ve listed above.

One more thing: If you ever decide to use an online banking service to handle your money (which I really recommend you do), make sure to use a good password!

Image: danielygo on Flickr

Related Articles (Automatically Generated)

• Bank Codes for PayPal Philippines
• A Chance to Save on Canon Cameras?
• Xoom Announces Faster Payment Delivery to Filipino Banks
• Xoom to Stop Facilitating Direct Online Payments to Local Bank Accounts
• PayPal Users Can Now Withdraw Directly Into Philippine Bank Accounts