Most people go through a mental checklist before they leave the house: Is the stove turned off? Do I have my wallet, my keys and my cellphone? Today, your phone is a must-have item since there’s very little you can’t do with it — especially when it comes to managing your money. From checking your accounts, to online shopping, to paying bills, your smartphone gives you access to many digital tools to help you stay on top of your finances while on the go.
Make purchases with your cards from any smartphone
When the Credit Union first introduced mobile payment apps, member Franco M. loaded his debit card into the Samsung Pay® app and never looked back. “It’s the best thing I ever did. I love it,” said Franco.
The mobile payment apps like Samsung Pay, Apple Pay® or Google Pay® allow you to add any major card, including your credit card or debit card, to your phone. Doing so turns your phone into a mobile wallet. Thanks to digital payment technologies, you can leave your actual wallet at home and use your phone to buy groceries at the supermarket or even order new shoes online for the kids. Data fees may apply. Check with your service provider.
Franco said he doesn’t like carrying his wallet. Instead he has stored his cards on his phone, which he always carries.
“With Samsung Pay, my cards are in one place. They’re always with me. I can pay with the tap of a button. I use Samsung Pay wherever I can,” Franco said.
Using the app is faster than paying with a card for the things he needs, Franco said, and he’s confident his personal data is safe. If available, mobile wallets use technology called Near-Field Communication (NFC) that allow you to make purchases by tapping or waving your phone at an NFC-enabled checkout terminal.
Generally, the apps use either encryption or protected code to reduce the threat to your personal data. Your private information is never stored on retailers’ terminals. Remember, if you’re not using Wi-Fi, data charges may apply. Check with your service provider.
No matter which wallet you choose, you’ll always have a ready-made way to pay in-store or in-app.
Smartphones give you always-on, 24/7 access to your funds
Your phone is also your key to accessing your LGFCU accounts without a computer. Log in to Member Connect day or night to check your balance and transaction history, pay bills or see if a bill has already cleared, all from your phone.
Rather than looking for your paper statement every month, view your transactions while waiting for a bus or a takeout order. Later, when you’re ready to balance your account, you can view your e-statement. You’ll get the same information you would with a paper statement. With an e-statement you can choose your statement cutoff date to fit your budgeting needs. Plus, when you sign up for notifications, the Credit Union will send a text message to your mobile device when your statement is available.
In general, with text alerts you’ll always know what your money is doing — even when you’re not looking. For example, with debit card alerts, LGFCU can send a text to your phone, giving you time to act on questionable transactions.
The convenience of digital banking may also help keep you from making costly mistakes. Not sure you have enough money in your primary account to cover a purchase? Log in to move money while in the checkout line to pay for what you need and avoid non-sufficient funds fees.
Digital banking can make it easier than ever to manage your finances and prevent problems before they turn into big issues.
Manage money with your phone, knowing your account is secure
Manage your money on the go and feel safe knowing your account is secure! LGFCU uses the strongest recommended encryption solution provided by industry security experts. This level of encryption protects your data and makes it difficult to be understood by anyone except authorized parties.
New-age convenience, top-level security and blissful peace of mind are all available from your pocket, anywhere you are, anytime you need access.
The advice provided is for informational purposes only. Contact a financial advisor for additional guidance.