It’s been a while, with the advent of the Internet, it is no longer necessary to physically go to the bank to perform all the operations necessary to manage our finances. Instead, all you need to do is connect to the Internet at home or from any location to access your online account and perform various independent counter operations, thus avoiding queues and movements.
We find out from opinionesespana.es that online banking has made it easy to do business with Spanish local businesses. This fact represents, among others, an absolute advantage. In this article, we will find out what online banking refers to and what are the benefits for people in Spain.
Home Banking – What is it?
Internet banking or home banking is a function now available for all current bank accounts, which leaves everyone the opportunity to manage them as they see fit: with the support of a bank at the counter or at home.
The “virtual bank” is displayed on our computer screen when we enter the credentials to access our current online account. Then a series of menus appear, most often related to the management of the current account, the deposit account, the securities account, the financial instruments in which you have chosen to invest. If you do not know exactly how to use home banking in Spain, you can find out on the specialized forums, n26, or even on the bank’s website.
Home banking is a service that not only had a strong impact on traditional banks, among the first to adopt it but also allowed the birth of 100% online banks, which allow customers to perform all major transactions related to their exclusive account. in the network.
In addition, the demolition of physical infrastructure related to internet banking has made it possible to offer higher rates of return or significantly lower account management costs, with tangible benefits for both customers and banks.
Online Banking Spain – Possible Operations
With home banking, it is possible to carry out operations and transactions for which you used to go to the counter before, but often without paying commissions. The cost associated with intermediation is omitted, making it possible to provide services of equal quality at lower costs.
These operations are, for example, checking the current account balance, transferring money between the accounts of the same customer, issuing national and international bank transfers, paying bills and taxes through forms, automatic debits, and credits, recharging the mobile phone.
Advantages of Online Banking Spain
Some advantages of online banking are:
- Gives you the ability to sign in to your account at any time and with any mobile device in the world, making every transaction instant without going to the branch, even if you’re traveling. The services are available twenty-four hours a day and seven days a week;
- Online trading is also immediate when you choose an account that offers this service, which can be done in real-time by monitoring the stock market and sending immediate buy or sell orders, without having to call an agent.
- Operating costs are much lower. Often online accounts have zero cost or more affordable fees, given the absence of brokerage. For the same reason, online banks can sometimes afford to offer higher rates of return, even if this was more true a few years ago.
- Another important advantage is that it is easy to do business with Spanish local businesses.