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4 Services Of A Modern Bank

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The last time you wanted to check your bank account balance, how did you do it? More than 70 percent of Americans would say that they did it on a mobile device. The personal finance industry has undergone a huge transformation in the past few years to adapt to the changing technological environment, and it’s now essential that banks provide modern features to stay competitive. As a frequent traveler, it’s even more important for you to find a bank that can keep up with your mobile lifestyle. Here are four features to check for before deciding on a bank. (Image Credit: Peggy and Marco Lachmann-Ank/Pixabay)

Budgeting Tools

Most people could use a little help with budgeting, and thankfully many banks now offer tools that do just that. When you’re deciding on a financial institution, take a look at their budgeting tools. Some provide a monthly breakdown of spending, while others even allow you to set goals, limits, and alerts for different categories of your spending. This is extremely helpful when you’re saving or trying to stick to a budget while traveling. Even if you already have a good handle on your finances, features such as these can reduce the manual work required on your part, automatically creating reports and suggestions for you.

Built-In Points System

Any credit card that you choose should have a built-in points system that puts more money back in your wallet. As a traveler, you want each of your purchases to count toward a future trip. With USAA’s Preferred Cash Rewards Visa Signature Card, that’s exactly what happens. You earn 1.5 percent cash back on every purchase, and there are no limitations by category or time period. Save up your rewards to splurge on a big vacation or use your rewards gradually all through their mobile app.

Mobile App

Speaking of mobile apps, having one should be next on your checklist for any financial institution. When you’re on the go, you need a bank that can keep up. Mobile apps ensure that you can access your accounts from wherever you are, and at your convenience. You may not always have time to run to an ATM to check your balance, or to call to put a travel alert on your credit card. Mobile apps keep up with the speed at which you run, and provide the convenience of having your bank in your pocket.

Online Support

Whether you’re sitting at home or across the globe, online support is simply convenient. In today’s fast-paced world, it’s simply a necessity. Instead of dealing with long wait times, online support can get you the answers you need, and fast. In fact, 42 percent of consumers say that they prefer online chat for just that reason. An online FAQ is helpful, but live chat is the simplest way to get support, especially if you’re trying to multitask (like when you’re boarding a plane or checking in at a hotel). More than half of consumers say that the ability to multitask while receiving support makes it appealing, Inc reports. Are you a part of these groups?

Choosing a financial institution is not a decision that should be taken lightly, this is an organization that you will have to interact with on a weekly, if not daily, basis. Before you choose where to keep your funds, be sure to do research and ensure that it can keep pace with you — wherever you are in the world.

Hannah Jaehnig
Hannah Jaehnig is a professional freelance creative writer. She has been writing professionally since 2014 and writing for entertainment for much longer! She has a bachelor’s degree in Creative Writing with a minor in History. She hopes to one day publish a fiction book. In the meantime, she’ll write about fashion!
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