COVID-19 has a big impact on our digital lives. Apart from increasing our media consumption to get information and stay connected with family and friends through our social accounts, many of our business transactions are now happening online.

Work life dramatically changed, as the majority of the world’s workforce is now telecommuting. We do our meetings and client-facing activities using Zoom or other online platforms. Dining in restaurants was banned, so we order delivery through phones or websites and apps. We also had to resort to shopping online for home necessities.

Cashless and contactless payment is now the safe route, and if you’re not a fan of online banking, you might want to change your mind. Now is the time to download your bank’s app onto your phone.

Online banking supports social distancing measures, at the same time will make transactions faster. You don’t need to leave the house and then line up at the bank. Here are some ways online banking makes them possible.

Mobile Wallet and Contactless Payment

Mobile wallets are phone apps the store your debit or credit card information, loyalty cards, vouchers, and more. Using this for payment is safer than carrying the physical card or giving your information through an online form. Your card data is encrypted that adds a layer of security against identity theft and fraud.

If you are in a physical store, your mobile wallet allows for contactless and cashless payment as well. You don’t need to hand in your card to the cashier or touch the card reader. Simply hold your phone over the contactless icon on the card reader and then confirm the payment. Fast transaction and social distancing achieved.

Saying this, it’s important that your phone screen is not broken. You may think that the damage is only on the surface, however, it’s best to go for screen diagnostic and repair so you can be sure that the sensor is not damaged.

Online Deposit and Money Transfer

Making deposits or payment is easier done online. You don’t need to make a trip to the bank even if you need to deposit a check. Just take photos of the front and back of the check and then make the deposit right there and there.

If you need to send money to family or friends, perhaps, you can transfer the amount to their own bank account. Bank to bank transfer is now faster than a few years ago.

Online Appointment and Account Opening

There may be transactions where you need to make an appearance to the bank. You can void long lines by booking your appointment online. Check if your bank has integrated a scheduling app on their website. With banks operating on shortened hours, setting an appointment will save you lots of wasted time.

Even opening a new account can be done online now. You will need to provide lots of information and proof of identification, but it’s contactless and paperless.

Banks are improving the way they service their customers online through customizations and improved security. At least until it’s safe to be out and interact with people, observing social distancing will protect you from the risks out there. You might even get used to doing all your transactions online, so you will want to stick to this routine.

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