Digital Banking

What is the difference between digital banking, online banking, and mobile banking?

Banking has come a long way from waiting in a long line at the end of a work day just to cash a check. With today’s technology, digital banking is the most convenient way to access all your accounts and manage your finances on one device–wherever you are.

Simply put, digital banking means managing your accounts on your computer or laptop (online banking) or on your cell phone or tablet (mobile banking).

There is no need to take valuable time out of your day to visit your bank in person just to do a money transfer, check your account balance, deposit a check, or even apply for a loan. Mobile banking apps make it easy to manage all this and more, even when you can’t make it into the bank.

Brick-and-Mortar vs. Digital Banking

Typically, younger consumers are more comfortable with managing their finances digitally, while older generations who’ve grown up with traditional brick-and-mortar bank transactions are more used to in-person visits. However, over the past few years, digital banking has become increasingly popular among customers of all ages.

There are some advantages to visiting a bank in person. For many, the interpersonal connections outweigh conveniences like chatbots and automated phone lines. Speaking face to face with a banker at a branch who can walk you through your questions is more helpful for some people, and often, the personal relationships people build with bank employees can work in their favor when dealing with potential problems or big transactions in the future.

However, for people who don’t have the time or ability to make a stop at the bank, digital banking has many convenient advantages. Whether you use online banking or mobile banking, digital banking can put the power in your hands to:

• Securely view your account balances on our homepage 

   

• Review transaction history before your monthly statement is ready

   

• Transfer money between your accounts with us and other financial institutions

   

• Pay bills electronically

   

• Manage your debit cards through the app

   

• Receive custom account and activity alerts

   

• Send money to friends and family

   

• Deposit checks using your mobile device

   

• Set up a mobile wallet (a digital way to store your debit cards on your phone rather than pay with a physical card)

  and much more.

Of course, there’s no need to pick one or the other– you can do both. And once you try a couple of tasks in digital banking, you’ll be amazed at how convenient it is.

Staying Safe with Katahdin Trust

At Katahdin Trust, we put our customers first and prioritize giving them a safe and secure platform to be able to manage their finances worry-free. Using our Online Banking and Mobile Banking App, customers can sign on securely, knowing that their information is just as secure as if they were banking in person at one of our 16 branches.

When not using the app, members should navigate directly to www.katahdintrust.com, and never access the website from a link provided within an email.

Know that Katahdin Trust will never call, text, or send emails asking you to provide sensitive banking or personal information. Here are some additional safety tips as well as the most common scams and how to avoid becoming a victim of a scam.

At Katahdin Trust, our team is dedicated to helping you learn how to use digital banking for almost any task. Check out our Online Education Center for more resources about how to use our Mobile Banking app and we are only a call away at 1-855-331-3221.

Katahdin Trust Company. Community Banking at its Best! Since 1918. Member FDIC. Equal Housing Lender. Our mobile banking service is free but message and data rates from your wireless carrier may apply.

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