Today’s bankers require banking services that are available without any restriction in time or transactions. The advent of online banking and card services, both credit and debit cards, have made our everyday lives easier to deal with any form of expenses at any given time. However, this feasibility has also left a somewhat gaping hole in terms of the protection and security of our banking accounts.

Electronic checks are a convenient form of making easy payments online for both individuals and businesses. These e-checks, as they are referred to commonly, are a great advantage mainly for reaping good profits in business transactions. Through this mode of payment, customers can easily pay for any form of transaction without having to use their credit or debit cards.

Online banking is the most convenient form of banking preferred by several users due to its ease of access over technological platforms. However, there are also risks to this mode of banking transactions, and here are some tips on safe online banking practices that help protect your finances. Set up your banking account for user authentication with every transaction.

Savings accounts are interest-bearing deposit accounts held at a financial institution or a bank. These accounts typically fetch you a modest interest rate. Their reliability and safety make them an excellent choice for parking cash required for short-term and long-term needs. Unlike other investment options, the savings accounts are federally insured.

Wondering what an electronic check payment is? Electronic check payment is when you make your payment online through an eCheck. The electronic version of a paper check is commonly known as an eCheck. To make a payment with an eCheck, you simply need to provide your bank routing number, your bank account number, and the name on your bank account.

Identity theft, also known as ID theft, is a criminal offense where one’s identity is stolen by a hacker. If a person becomes a victim to identity theft, their personal information like the full name, Social Security number, etc. is stolen. Identity theft is on the rise these days. One may not be aware of the fact that their identity has been stolen until they face some financial consequences.