Written by: M Katie Helle, CPA

You may have heard the term “online banking” but may not understand the meaning.  Nowadays, most brick-and-mortar banks offer an online banking system, whether through a web browser or mobile app.  Today many banks only offer online services and do not have a physical location.

What does this mean?  Online banking services allow you as the customer to do several things at the touch of a button rather than visit a banking center to transact your business.

The benefit of online banking boils down to convenience.  You can do many things, from making deposits, transferring money, getting a loan, or paying your bills through the convenience of online banking.  Most things are available in the comfort of your own home or wherever you have an internet connection.  The only thing you cannot do from a web browser or mobile app is make a cash withdrawal; however, there are easy workarounds.

The downfall of using online banking services is the lack of building relationships with your bank.  Brick-and-mortar employees build relationships with their customers each time they walk through the door.  Bank employees get to know their customers and can meet their financial needs based on the relationships they build each time they visit the banking center.

Many banks offer a hybrid of both types of services.  This offering provides convenience and relationship-building together.

No matter which banking method you choose, it is essential to decide based on your needs and what is most important to you.


Katie Helle has been in public accounting since 2009, with experience in individual and small business taxation, specializing in payroll and sales tax reporting and compliance and QuickBooks accounting software. She is an Arizona native and resides in Chandler, Arizona with her husband, young daughter, and two goldendoodles.  Outside the office, she is actively involved with community outreach, enjoys fitness, and can be found with a power tool or two in her hand for her many crafts.