(ARA) - Traditional, bricks-and-mortar banks are going to have to start offering much more than free lollipops to keep customers coming through the doors. According to a new survey, four out of five households with Internet access use some form of online banking. And why not? You can pay your bills, manage investments, buy stocks and do your taxes without leaving the comfort of your home.

So if you are part of that 20 percent holding out, here are five ways you could be saving money by doing some of your banking online:

Better returns
You may be surprised to find that online savings accounts offer relatively high interest rates - often higher than those from traditional banks. In part because of their low overhead costs, online-only banks can offer competitive returns on your investments along with other perks. High-yield online bank accounts generally require lower deposits to start out, provide integrated online tools and connectivity and can offer extras such as free checking accounts.

Time is money
Online banking, at its core, is about making your life a little easier. Eliminate tedious tasks from your to-do list by simply managing your finances from the comfort of your own desk. With all of your information in one place, you can also monitor investments in real-time. This assures that you will catch mistakes or theft almost immediately. And unlike the human mind, computers never forget. Automation will safeguard you against costly overdraft or late payment fees.

Every cent counts
You may not think about the price of reordering checks and purchasing stamps, but over a lifetime of banking, these costs can add up. Online banking allows you to go nearly paperless. Not only does this save on office materials, it saves you on gas and travel expenses as well. If you live in a rural area, these costs may really make an impact. And by managing your accounts online, you may feel more in touch with your finances, and more able to cut out other expenses such as accounting and tax services.

Qualify for extras
Retailers, employers, utility companies and even the U.S. government want you to make financial transactions online. It ensures that they will receive their payments on time, and cuts down on their costs as well. Because online banking is mutually beneficial for customers and businesses, you can often find incentives to bank online. Take advantage of discounts available exclusively to people who can arrange for auto bill pay.

Set up safely
To set up online banking, you are going to need to share some highly confidential information online. Be sure you are using an Internet connection that is secure. Do not share private information through public or work computers. If you have dial-up, consider upgrading to a high speed wireless connection from a satellite Internet provider. In the most remote areas of the country, satellite Internet is available and offers huge security advantages over dial-up.

Managing your money online may be daunting at first, but with the right tools, it can open the doors for increased interest rates and cost savings in the long run. When you feel that you have more power and control over your money, you are more likely to be aware of how you are spending it. Better financial options online can result in sound financial decisions offline.

Courtesy of ARAcontent