5 Different Reasons Why You Should Avoid Online Banks – Part 2
In our last entry, we took a detailed look at the first two (out of five) reasons why you might want to stay away from online banking for now. Of course, this is not for everyone, and a lot of you surely feel right at home using online banking to manage your savings and apply for personal loans. However, if you read our last piece, you might already relate with some of the reasons we offer for staying away from online banking.
Now, let’s continue reviewing the next (and last) three reasons:
3. You Are a Small Business Owner
Have you ever heard the story of the struggling business owner pleading to his bank for them to give him a personal loan? Then, when he was denied of it many times, he finally turned to his local credit union? Well, it turns out banks (and credit unions for that matter), are still tremendously relevant on any community where they operate and also happen to get a good feel for the local businesses and entrepreneurs. So, what would happen if you need to apply for a personal loan as a business owner and you you only work with online banking? Well, there is as much chance of being denied that personal loan as anyone. If, however, you always work with your “real” bank and it knows the importance of your business to the community, it will most likely approve your personal loan just our of plain trust.
4. Everybody Could Use Some Exercise
If there is one aspect where our modern society has been quite negatively affected nowadays because of technology, it is on the health department.
With the advent of computers, email, online forms and online banking, most people don’t even leave their couches when shopping, playing and even when applying for personal loans. This has caused several sedentary problems and many health issues related to physical inactivity.
So, what if instead of applying for that personal loan or managing your deposits via online banking, you stand up, go out and choose to walk to your bank and visit it personally? The benefits of something as simple as taking a daily walk can be extraordinary. In addition to that, applying for a personal loan at your bank in person might actually help you get approved for it, since nothing can replace a good handshake and an honest smile.
5. You Tend to Deposit Cash and Also to Buy Coins
Let’s face it: We all have those quarter-operated machines that offer that delicious coffee of that addictive snack near our homes. However, what good is any of these if you don;t have any coins to use them? So, here is where having a bank nearby that can sell you entire rolls of quarters can come extremely handy for just about everything, from indulging in that delicious snack to doing your laundry.
On the other hand, what if you work as a waiter/waitress or on any other kind of job that offers tips? At the end of the week you might have countless pennies lying around that you might not have a use for. In those situations, banks can help you by giving you bills in exchange for your coins. And believe it or not, a few coins collected over the week can become significant amounts.
There you go, five different reasons for which online banking might not be ready for prime time just yet. Think carefully about them next time you plan to go “all-in” with online banking. Don’t forget that brick-and-mortar banks can eventually save the day for you.