All the banks are working towards reducing cost and increasing profits. Online banking is one of the way the banks can minimize on cost and provide their customer at home service without the hassle of queue and long waits.

All the paper work has been reduced and making it more convenient for the banks and the customer to view the account information electronically, transferring funds, making bill payments and lots of other facilities electronically, bringing the usage of paper to the minimum.

Another feature, online banking alerts, is sent to an email or cell phone via text message. Set up by a user based on preference, alerts provide instant information regarding an account balance or other transaction. For example, balance limit alerts are received when a balance goes above or below an amount the user has specified. Transaction alerts are received if a direct deposit is received, when a check clears, a withdrawal is made, or a purchase is made with a credit card. Alerts can also be set up to communicate bill payments that have been made.

With the phenomenal growth of online banking, banks continue to develop effective security features, creating peace of mind for customers and a wall of protection against identity theft. Users should always opt in for the additional security features offered by their bank. These programs may prompt a security question, such as a mother s maiden name, if it does not recognize the computer from which a user is accessing the account. Customers should also look for https in the URL as well as a locked padlock icon in the lower corner of the screen. Most importantly, personal identification numbers (PINs) that use a combination of random numbers and letters will be much harder for a hacker to break through.

Another security feature of online banking in MA is that it can be monitored nearly in real time. For those who think online banking is risky, a recent study by a major research firm found that the average days it takes to detect fraud for online account holders is 18 days. For those who monitor accounts from their monthly statements, it took an average of 114 days before fraud was discovered. It's hard to deny that online banking is fast becoming the more secure way to handling and protecting finances.

Banks are providing a wide array of online banking, personal banking and business banking options and banking solutions tailored to your individual needs

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