4 Reasons To Look at Your Online Banking More Closely

Josh Polgardi
February 21, 2023
mins read

Nobody looks forward to going to the bank. The best recipe for an unwanted wrinkle in your day is to add drive time, long lines, and rushed tellers for a simple banking task. Your paperwork might be ready, but the seven people in front of you? We’ll see!

If you’re especially unlucky, you take a hopeful tug on the front door handle upon arrival just to find it locked.Another bank holiday for them, and another hour gone for you.

From Bank Branches to Online Banks – A Story

Don’t get us wrong, once upon a time traditional bank branches offered many benefits. We enjoyed the familiarity, trust, and in most cases convenient access while out and about. But the world has changed – technology and Covid 19 pushed most of us into a more distant relationship with our bank. We gained some degree of convenience through technology, but at a price.

Online banking isn’t new, but it’s no secret that people are missing the benefits they used to enjoy with their local bank. Good news: you can still open an account, schedule a time next week to speak with a representative, and transfer money through your phone or computer.Bad news: the convenience, personalization, and customer service we once had vanished in the digital banking experience.

These are real problems, especially when unique banking needs arise, security is in question, or you just have a question about how their app works. Why can’t we just talk to someone anymore?

We feel that pain and built Monesty to restore the trust, convenience, accessibility, and convenience you used to enjoy with your local bank, but in an all-digital format anyone can use.

What are the benefits of online banking? Let’s explore together.

1. Online Banking Access –Day and Night

The days of rushing to catch banking hours are over. When your bank is in your pocket, it’s always open (for most things). Your online bank account allows you account access anytime, any place, for convenience and peace of mind. If you have an internet connection, you have bank account access so you can bank how you want, on your time and at your pace.

Monesty is no different. We offer every feature in the Monesty banking app that you expect, with even more value added. Don’t worry, we’ll get to that part in a minute.

2. Banking Security

One of the most significant advantages of online banking is the robust security measures within online banking technology to protect your money from fraud, scams, and theft.

Nearly everything is automated, so you no longer have to worry if your check was deposited into the correct account or if that cash from last weekend’s garage sale made it to the right place. It goes where you tell it to go.

Most financial institutions offer online banking services with reasonably strong information security measures to protect your hard-earned money. If it’s a real bank, they are required to do so. As the world gets more digital, guarded bank vaults are starting to look a lot more like IT departments building cyber walls around servers.

Monesty takes security, monitoring, and alerts to the next level in important ways your family will love. Keep reading.

3. Online Banking Support

The level of support you can get from your online banking platform varies in quality across the board, and depends on your online bank of choice. Without a doubt, glitches and irregular transactions happen to anyone with a bank account these days.

The question is, how easy or hard is it to get in touch with a certified representative to get to the bottom of it? In our experience, you only have a couple options:

  • Attempt to call: if you can find the right 800 number and have the patience to navigate an endless automated phone system, you may eventually get to speak to a human.
  • Attempt to chat: some online banks offer chat services where you can type your question or concern to a “live” representative (debatable). Without exception, you’re directed to an online FAQ database where the humans are strangely impossible to find.
  • Attempt to email: good luck!

This is, of course the worst case scenario. In some cases you can get in touch with someone to help you troubleshoot your banking problem. Support exists, but it’s all over the map. Even the biggest names in banking have a tough time keeping up with the technological curve.

Regardless, most of us would keep the inconveniences of online banking support rather than going back to traffic, parking, and long lines.

Monesty has fully embraced the technological side of banking so you experience incredible convenience. However, we designed our platform for real humans, by real humans so support is just a click away. Read on.

4. Online BankingTransparency

Today, when you swipe your debit or credit card, you see a record in your banking portal in near real time. This benefit to online banking is leaps and bounds ahead of the once-a-month paper statements clogging your mailbox and storage boxes.

If for no other reason than a massive lifestyle improvement, this benefit of online banking cannot be overstated. But when you think about it in terms of security, you are now able to see the who, what, when, and where of every transaction. All this without having to wait for the U.S. Postal Service to swing by your home next month.

This is all fantastic news, but what is the next generation of transparency? Wouldn’t it be great if there were an online bank smart enough to [reliably and accurately] alert you to suspicious activity– AND give you access to real-time support?

I think you’re catching on now. Monesty is already there. So let’s dig in, you’ve waited long enough.

The Monesty Difference: Online Banking for Humans

Monesty saw the benefits of online banking long ago, but felt the loss of traditional banking pretty quickly. So what do you get with Monesty that’s better than both traditional and modern online banking?

Let’s go, point by point:

1. Online Banking Access 24/7

Access is the lowest common denominator for online banking. Almost without exception, you should be able to access your bank account via browser or mobile app if you have a bank account today.

However, not all digital banks are created equal in terms of ease of use, customer-focused design, and accessibility for all. Even some of the biggest banks are playing catch up.

We built Monesty with user experience forefront in our mind. Sure, signing up for anything online is never fun. But from our website to our mobile app, we take great measures to make online banking as easy as possible for you and virtually anyone in your family old enough to bank.

2. Banking Securely Online (and Knowing it)  

Federal regulations require a whole host of protections for online banking, but here’s what no one will tell you: information security is always playing catch up with the fraudsters out there. When a corporation finds a vulnerability, they patch it – but it’s typically after a hacker finds their way in first.

As a response, we’ve partnered with EverSafeTM to give you an extra layer of protection. When you add EverSafe monitoring to your banking or checking account, you get:

  • Real-time, personalized alerts for irregular activity
  • A family dashboard for all your family members’ accounts and banking institutions
  • An “extra set of eyes” –meaning you can designate family members, caregivers, or trusted professionals to help you monitor your account and receive alerts
  • Special protection for senior citizens supporting powers of attorney, guardians, conservators, and trusts

This monitoring-driven approach empowers you and/or your whole family to spend your money as you see fit, not somebody else.

3. Real, Human Support  

The online banking industry is all over the map in terms of customer service. As previously discussed, it’s far more likely that you talk to an unhelpful robot or automation when you reach out to your institution for help.

WithMonesty, restoring customer service is one of the reasons we’re here. Customer service should be simple, immediate during office hours (we have to sleep sometimes, too), and with real humans – every time.

Literally anyone – customers and non-customers alike – can click our MonestyLive button in the bottom right corner of our website to chat, call, or video call with one of our helpful customer service representatives.

Why is it called MonestyLive? Because we’re….live! Sure, we keep bankers’ hours. But if you reach out to us in the middle of the night, we’ll be quick to respond and see how we can help first thing in the morning. It’s what we do.  

4. Transparency into Your Account

Your ability to access, view, and download your profile information and transactions data is essential. Everyone expects this now because you never know if swiping your debit card while on vacation in Wisconsin will be intercepted by bad actors, leading to hundreds of dollars in fraudulent Amazon purchases (for example).

This isn’t a rare occurrence – the real question is what you do about it, who you get to help, and how long you have to wait to resolve the issue.

With Monesty…well, see item 3 above (“Real, Human Support”).

Out With the Old, Bank With the New

Hey, it's the 21st century! Switch to an online bank that makes your life easier –built by people, for people. You get all the benefits of technology with none of the down side, plus all the benefits of your local bank.

AtMonesty, we believe banks should work for you, not the other way around.

Give it a try!

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