Internet banking offers consumers the ability to transfer funds between accounts. This is an important service as the world becomes a smaller place. There are many places people want to transfer money and many reasons to do so.
People often want to transfer money from one account to another. For instance, they may want to transfer funds from their traditional account to their internet banking account. This could be a means of getting money into the account they normally use to pay bills.
Another use of internet banking to transfer funds is to move money from checking accounts to savings accounts. Money can be transferred from investment accounts as well. Any accounts you have can be accessed through internet banking to do this.
They also may want to transfer money from an account in one location to an account in another. This would be useful for someone who lives a bicoastal existence for example. When they are spending part of the year on the East Coast, they can have their money in an East Coast bank. Then, they put it in the West Coast bank while they live there.
This can be done through internet banking by using a traditional bank with internet banking capabilities. You can send the money to your other account almost instantly by using your keyboard and mouse. In fact, if you do it often and have it set up, you might only need your mouse once you get logged on.
