Managing your finances online

It's convenient and efficient to use the Internet to keep track of your financial affairs.

According to surveys conducted by the Federal Reserve, electronic payment transactions in the U.S. now exceed check payments. There’s no question, electronic banking is changing the way Americans manage their personal finances. Almost every bank offers some form of online banking.

Monitoring your bank accounts has become as simple as logging on to your bank’s website and entering your user name and password. Here are a few of the many ways you can manage your finances more quickly and efficiently online:

Monitoring your account activity

Online banking is available 24 hours a day, seven days a week, from the comfort of your home. You’re no longer restricted to visiting your bank only during certain hours. You can log on at your convenience to monitor your balances and see when checks have cleared.

Transferring funds between accounts

Being able to move money quickly and easily between accounts can enable you to earn higher interest rates. Funds may be left in a higher interest savings account, for example, and only transferred to a low interest checking account when required to pay a bill.

Paying bills

You can save on postage by making your credit card, utility and mortgage payments online. Many recurring bills can also be scheduled for automatic deduction from your account so you’ll never be hit with late charges for a missed payment.

Trading stocks and mutual funds

Provided you are comfortable making your own investment decisions, you can save a significant amount in brokerage fees by placing your own orders to trade stocks and mutual funds online. Online discount brokerages also provide extensive research reports and tools to help you choose the right investments.

Secure Transactions

Look for online banks that use encryption coding to transmit your personal information securely over the Internet. Make sure you are comfortable with the security and privacy policies of any bank you might do business with.

Requesting a loan

LendingTree enables you to request loans online. By filling out one simple form, you will be matched with the lenders that are best able to meet your financial needs. The lenders will respond with loan offers that you can compare to choose the one that’s best for you.

Get a FREE LendingTree Guide to Mortgages when you request a mortgage loan through LendingTree.

Get a FREE LendingTree Guide to Home Equity Loans when you request a home equity loan through LendingTree.

Request a refinance of your mortgage and get a FREE LendingTree Guide to Refinancing.