Show Me the Money: Online Financial Services

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Digital Library > Acquiring and Managing Finances > Loans"Show Me the Money: Online Financial Services"

With the rise of the Internet, the benefits of online financial services keep escalating.

Looking for a loan? Instead of just calling on local banks, spend some time on the Web. By tapping a larger pool of providers, you may get a better rate — or find a lender that offers a special program.

A lot of time can be saved by downloading corporate expenses, such as Visa charges, and importing them directly into your financial systems instead of entering them manually. Another plus: Financial sites also post a lot of free fiscal advice that's yours for the surfing.

No surprise, then, that 14% of the small office/home-office market uses online banking for personal finances, while 7% also utilize it for business transactions, reports PSI Global research. That's a 57% increase for personal banking and a 40% jump for the business side. When it comes to online investing, 9% of SOHO owners make personal investments, and 3% make business investments.

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