3 Personal Banking Products To Consider Utilizing

Posted on: 1 March 2016

Many people make the mistake of not utilizing many of the personal banking products that their financial institution provides, but rather choose to only use the basic savings and checking account. This is a big mistake as many of the optional personal banking products available can actually provide a lot of benefits that can make your life easier. Listed below are just a few of the personal banking products that you should consider utilizing.

Mobile Check Deposit

Mobile check deposit is a fantastic personal banking product as it will allow you to deposit checks without ever having to go into your bank or mail the check to your financial institution. This option will allow you to use an app on your smartphone to take a picture of both sides of the signed check that you want to deposit and submit that to the bank. Once you have taken the picture, all you will have to do is tell the app which account you want the money transferred to.

Secured Credit Cards

Another personal banking product that you will want to consider is a secured credit card. A secured credit card differs from a normal credit card in that you will have to deposit money in the secured credit card account. Once money has been placed on the card you can begin using it in much the same way as a debit card, with the key difference being that your usage of the secured credit card will be reported to credit bureaus. 

The main benefit to this is that you will never end up spending more money than you have on the card, which means that you do not have to worry about getting deep into credit card debt. Another useful aspect of this type of card is that it typically does not require any type of credit check, which  makes it ideal for building a good credit history or to try and rebuild your credit following a bankruptcy filing.

Bill Pay

Finally, many financial institutions will provide you with access to an automatic bill pay feature that can make paying your monthly bills much simpler. Sure, most people set up automatic payments with each of their different creditors directly, but that can be time-consuming to manage or set up if you have a number of different bills to pay every month.

With your financial institution's bill pay system, you can set all of those payments up on a single site. This means that you will easily be able to see all of your automatic payments on a single page, while also being able to adjust the amounts or cancel those payments very quickly and easily.

Contact your financial institution today in order to discuss the many personal banking products that can benefit you and your finances. Automatic bill pay, secured credit cards, and mobile check deposit are just a few of the many products and services that you should consider utilizing in order to make your life more convenient and simpler. To learn more, contact a bank like Juniata Valley Bank