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4 Benefits of Online Banking for Families

Whether you’re a first time parent just getting into the sleepless swing of mother/fatherhood or a seasoned pro with a house full of rambunctious toddlers or teens, there’s no doubt that time is of the essence when it comes to organizing all aspects of your household. From tackling the never-ending laundry pile to keeping small bellies full with a fridge full of food, managing your family’s finances is just one of many tasks that keep parents from spending more quality time with their kids.

But budgeting, banking, bill paying and balancing takes time you say. And while that is true, there is a form of banking – online banking – that is sure to save you time so you can spend it with the little (or big) ones you care about most.

The four Bs of online banking

So, what is online banking you ask? Online banking is offered by most banks and it allows customers to access their bank accounts online, anytime and from anywhere. Here are just some of the top advantages of online banking for families:

Budgeting – Many families create and stick to budgets to make their households run more smoothly. Many banks offer free online checking accounts as well as a free debit card, money transfers and other services to help you manage your money wisely and because most of these services are free of charge, they won’t put a dent in your budget either.

Banking from anywhere – While most banks offer free online banking, there are numerous advantages of banking from the comfort of your own home. Not only can you take care of financial business 24/7 but you can do it from anywhere. From the comforts of your couch after the kids are in bed to your in-laws’ house or on vacation, there isn’t a place where online banking isn’t an option.

Bill paying – Paying bills is a timely task that many don’t enjoy but must always be done. With the convenience of online banking, bill paying doesn’t have to be a dreaded monthly chore. With fast and secure online bill pay features, moms and dads can quickly and conveniently pay bills online and have time left over to spend time with their family. And better yet, you can teach the kids at an early age what it means to be “green” with environmentally-friendly, paperless bill pay options that are usually available with online banking.

Balancing – Isn’t finding balance what parenthood is all about – balancing checkbooks, balancing schedules, balancing stacks of dishes on your way to the sink? Well, online banking makes staying balanced a little easier. Many banks not only offer online banking and bill pay but also the opportunity to balance many other parts of your family’s finances. From balancing your savings, money market and CD accounts, to managing your mortgage and other loans you may have, many banks offer a variety of other banking services online.

There are many benefits of online banking, especially for families. In the world of parenting where the demands are many and there aren’t enough hours in the day to accomplish everything that has to be done, having a bank that offers a way to take care of business while taking care of the home is a rare thing. But luckily, online banking is becoming more and more popular and families with kids are reaping the benefits of round-the-clock, ubiquitous banking to suit the way you really live.

Additionally, if you’re looking for an alternative to traditional banking, direct banking may be right for your situation. Unlike a traditional bank, a direct bank does not have brick and mortar locations and provides products and banking services online and by phone. Direct banks do not pay the high operational costs of traditional banks, and are therefore often able to pass along savings directly to their customers. And, a direct bank is as close as your computer. With all the benefits of online banking still available through your direct bank partner, you’ll have more time in your day and more money in your budget when you aren’t paying for more than you need, which is a great incentive for families on a budget.

Editor’s Note: One thing I really hate is when banks get to pushy with credit cards. It’s ok if they want you to apply for a credit card, but it’s another to constantly send letters and to mention it each time you come in for a deposit. Enough is enough!

This is a post contributed by Micah Moon.



  1. We also find online banking handy for traveling. Your bills always get paid and you can keep on top of things even if you aren’t home

  2. I love the convenience of online banking. I’ve even paid bills from my cellphone which has saved me in a pinch while I’ve been traveling. Also, I hate getting paper statements.

  3. I use USAA and ING Direct, and the both rock.

    Being able to log in to look at my accounts from anywhere, send transfers, pay bills, etc. is just awesome.

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