Online banking isn't out to change your money habits. It simply uses today's technology to give you the option of bypassing the time-consuming, paper-based aspects of traditional banking in order to manage your finances more quickly and efficiently.

It is almost certainly the way most banking will be conducted in the not-too-distant future.

Benefits of banking online

Many banks make it easier to manage your checking account by allowing you set up e-mail alerts so you can be notified when checks clear or when your balance slips below a certain level. There is also a detailed listing of your canceled checks.

If you'd like to eliminate paper checks from your life, you'll find that a growing number of companies allow you to make automatic payments through your online banking account.

Getting set up for online bill pay

If a monthly bill is for the same amount each month, you might want to schedule a recurring payment. If the amount varies from month to month you can pay the bill each month on a "one time" basis.