Online Banking Service - Office of Financial Empowerment

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Banks are embracing technology to allow their customers to manage their accounts online. Here's a brief overview of online services offered.

Online Service	What It Means:	Important Notes:
Online Statements	Instead of receiving your bank statements in the mail, you can log in to your online bank account to view your statements. Many banks offer real-time updates so you can see exactly when a check was deposited.	Discontinuing paper statements can prevent identity theft since many thieves are known to steal mail. Getting real-time online updates of your transactions is a good way to track your spending so you won't go over your limit or write a check that may bounce.
Online Bill Pay	You can pay bills online by electronically transferring funds from your account to the company you need to pay. This allows you to skip writing a check and mailing the payment.	Find out how long online processing of your payment takes so you won't miss the due date and be charged late fees. Some companies allow you to set up automatic bill payments that withdraw money from your account every month to pay a bill. This is convenient because you don't have to remember to log in every month to pay a bill online. However, you do need to keep track of your account to ensure there is enough money to cover these automatic payments or you may face overdraft fees