Monday, August 28, 2017

6 Banking Tips for Millennials

Millennials have grown up alongside technology. They remember the days when having a RAZR flip phone made them the talk of the 6th grade. They remember playing Solitaire on a tube monitor connected to dial-up internet on a clunky desktop computer. Technology continues to evolve, and banking has evolved along with it. Here are 6 aspects of banking to consider before choosing a bank to trust with your finances.  

Millennials McHenry Savings Bank

Best Banking
You’re allowed to be selective! Find a bank with services, prices, locations, and loans that are in line with your personal preferences. Also consider security features with regards to things like PayPal and online shopping. 

Saving Smart
Set up an auto transfer from a checking account to a savings account. This is a great way to save up without having to transfer each pay period.

Accessible App
Banking through a smartphone is fast, easy, and convenient. Make sure to investigate the privacy settings and never use public wifi when accessing your banking app. Make sure to keep the app updated for the newest features.

Automatic Alerts
Most banks automatically call or text the account holder if an account falls below a predesignated amount. Account holders can also request a confirmation on purchases made at or above a certain amount.

Secondary Savings

If we expect the unexpected does that make it expected? Set up a secondary savings account for large purchases like car maintenance, health problems, or costly home updates. This can help save an account holder money when these unexpected financial situations arise. This allows interest rates to be avoided and loan applications to be omitted. Plus, the money deposited will collect interest every month!

Staying Social

Social media is a great way to connect with a local bank, ask questions, and keep up with any changes.

When it comes time to choose a bank, we hope you’ll trust McHenry Savings Bank with your finances. McHenry Savings Bank (MSB) offers helpful tools like mobile banking, people pay, eGift Cards, bill pay services, mobile check deposit, SecurLOCK to monitor and protect your MSB debit card, and more. Visit our website to find out more or give us a call at (815) 385-3000.