Online banking makes it much easier to keep track of deposits, withdrawals and bill payments.
Most banks offer an array of services to help you monitor all of your transactions and you have a history of expenditures at your fingertips.
But like anything else, problems can pop up and when it comes to your finances, even small issues can have a big impact.
Banking glitch affecting customers
That's what's happened to some customers of online banking through Wells Fargo. The company experienced what it's calling a "computer glitch." That glitch led to customers being double billed for some transactions and as a result, they incurred overdraft fees, some customers were unable to make purchases because of the problem.
Wells Fargo is encouraging all customers to pay special attention to their accounts to make sure there aren't any errors. The company says it will take care of any fees that were incurred because of the glitch.
Easy way to monitor transactions
Even though you can't prevent problems like this from happening, you can set up account alerts to help you monitor your money. Just download the app from your financial institution. Alerts can come to you in the form of texts or emails and let you know when bills have been processed when your balance dips to a certain amount, and even when a certain amount of money is spent. You can also opt in for a daily account update. Credit card companies also offer alerts to let you know when a payment is due and when you are getting close to your credit limit. There are also apps available to help you make sure you never pay another hidden late fee again.
If you have questions about online banking, Kim has your answers! Email your questions to askkim.com. She'll answer you and may use it on her show. To find out where and when The Kim Komando show airs in your area, click on the station finder map.
Take charge of your finances with this 'back to basics' budgeting app
A lot of apps make it overly complicated to create and manage your budget. But did you know there's an app out there that takes things back to the basics? Remember when you were a kid and you kept track of your money using piggy banks and envelopes? Well, that's the concept of this app.