Conventional Vs Internet Banking – Could You Be Saving More?

Conventional vs Internet Banking

In today’s harsh economy, saving money has become the number one priority for many people. Every penny you save now¬†could literally save you down the road. This is why we ask some of our viewers, are you paying monthly fees on your bank account? If so, why?

Many conventional banks charge anywhere from 9 to 20 dollars per month, that’s right, per month to use their services. You are either stuck paying 3 to 5 dollars per month for a bank account that has grossly limited features, or you are stuck paying an arm and a leg for features you just don’t use. How often do you visit an actual bank teller? Most transactions can all be completed on a mobile device, and in most cases, completely free. I either deposit my cheque in the ATM or even better, I use my online bank’s mobile cash chequing feature, one snap of a picture and my money is in my account. Paying bills? I simply use my online banking platform to submit bill payments. Have a friend who needs some cash? A simple Interac e-transfer gets the job done in seconds without having to go into a branch and visit the teller.


Although a conventional bank can be right for some people, like those who may not be totally up to speed with today’s computer friendly word. But let’s face it, I’m betting even your grandma is on Facebook. What if we told you there was a way to slash those monthly account fees, and actually have a bank pay you to keep your money with them, to keep your business. In comes internet banking. We are assuming most have heard of the big internet banks like Tangerine or PC Financial, but that’s probably where you stop.


Is It Worth It To Switch To An Online Bank?


Changing bank accounts can be a bit uncomfortable for most people. Especially if you have a pile of direct debit bills. But what if we told you that you could save up to 180 dollars a year on monthly fees alone? That seems well worth the day or two and a couple phone calls you have to make. Instead of paying to have a bank account, what if your money in your chequing account gained interest? If you haven’t heard of one of these banks yet, you would probably think we are crazy. We have created an infographic that will show you exactly how much you can save. If you want to have your cake and eat it too, we strongly suggest you switch to a modern day internet bank. Feel free to share this infographic, as we have made it for one primary reason. To help people save money.

Internet Banking vs Conventional Banking Infographic

internet banking