5 Ways to Save with Online Banking
3/26/2024
So many of our financial habits involve spending. From soccer cleats to Easter baskets to birthday gifts, it can be difficult to intentionally save money. While saving can be challenging, digital banking tools make it quick and easy.
With just a few moments of setup, SouthState’s online banking features can help you manage your money worry-free. Not only do digital banking tools save you money, but they also help eliminate common human errors, reduce your carbon footprint, and save you time.
You have the money to pay, but human forgetfulness has resulted in not only the stress of receiving a late notice but also a late fee. Automatic billing is a helpful tool to reduce these errors.
Let’s say the utility provider you forgot to pay charges an $8.00 late fee. Even if you incur the fee only five times a year, you’re paying $40 extra plus an additional fee to have service turned back on if needed.
Instead, spend 20 minutes setting up your monthly and bimonthly bills in BillPay so you avoid late fees – so you can spend that $40 on something much more fun.
Signing up for Round Up to Save® is easy. You can enroll in your mobile banking app or on our website.
Set up a savings account or choose a set savings goal. Then, schedule automatic transfers to put money toward that goal each month or week. Set the frequency you want in the SouthState online or mobile banking platform to set up savings transfers.
Try this example. Automatically transfer $25 at the end of each month into a family vacation fund; at the end of 12 months, you’ll have put aside $300 toward trip extras like special meals or experiences
With just a few moments of setup, SouthState’s online banking features can help you manage your money worry-free. Not only do digital banking tools save you money, but they also help eliminate common human errors, reduce your carbon footprint, and save you time.
BillPay
How many times have you simply forgotten to pay your water bill or gotten your mortgage due date mixed up? You may receive an urgent email or letter in the mail from the utility company reminding you to pay before your service is cut off.You have the money to pay, but human forgetfulness has resulted in not only the stress of receiving a late notice but also a late fee. Automatic billing is a helpful tool to reduce these errors.
Let’s say the utility provider you forgot to pay charges an $8.00 late fee. Even if you incur the fee only five times a year, you’re paying $40 extra plus an additional fee to have service turned back on if needed.
Instead, spend 20 minutes setting up your monthly and bimonthly bills in BillPay so you avoid late fees – so you can spend that $40 on something much more fun.
Round Up to Save®
Did you know everyday expenses can help you save? With Round Up to Save®, each time you make a purchase with your debit card, SouthState rounds the amount up to the next dollar and automatically transfers the difference from your checking account to your savings account. As a bonus, at the end of the year, SouthState will match 2% of those savings, up to $250.Signing up for Round Up to Save® is easy. You can enroll in your mobile banking app or on our website.
Automatic Savings Transfers
We all look forward to payday; but after paying your bills and going grocery shopping, it’s all-too common to have nothing leftover. If you, like most of us, find yourself in this never-ending cycle, try paying yourself first with automatic savings transfers.Set up a savings account or choose a set savings goal. Then, schedule automatic transfers to put money toward that goal each month or week. Set the frequency you want in the SouthState online or mobile banking platform to set up savings transfers.
Try this example. Automatically transfer $25 at the end of each month into a family vacation fund; at the end of 12 months, you’ll have put aside $300 toward trip extras like special meals or experiences
Frequently Asked Questions
How do I take a photo for mobile check deposit?
Best practice for depositing money with mobile check deposit is to use a plain, dark background under your check. Find more tips here.What is the daily limit on mobile deposits?
SouthState’s daily deposit limit is $15,000 for mobile deposits.Does SouthState’s mobile app use Face ID?
Yes, you can enable facial or fingerprint recognition in your mobile app. Find this option under Preferences, then Security Preferences. Find more information specific to your device here.When will my funds be available?
Funds are generally available the next business day if made by 9 PM EST unless a hold is placed on the deposit. Mobile deposits submitted after 9 PM EST or on a weekend or bank holiday are generally available on the second business day.Mobile Deposit
Paper checks are becoming less common with the growth of peer-to-peer payments like Zelle. You may, however, find yourself needing to deposit a birthday check from Aunt May, payment from a shared phone bill or a check sent to your small business. Mobile check deposit is an efficient and cost-effective way to add these checks to your account.By using mobile deposit at home or work, you avoid having to get in your car for an extra errand. As many of us know, running errands often ends with buying a little treat at your favorite bakery or drive-thru. If you visit the bank to deposit a check every other month, extra errands can range from $10 to $30. Completing a mobile deposit upon receiving a check also reduces the chance of losing the check.
Budgeting and Tracking
Money causes enough stress that many people avoid dealing with their finances altogether. Adults polled by the National Opinion Research Center1 say “their financial situation is a source of stress, including 36% who say it is a major source of stress.”Stress doesn’t just affect our mental health. We know that chronic stress, say over making ends meet or savings for a child’s college, can lead to decreased immunity, heart problems and other health issues.
What if there were tools to provide clear data and goal setting? Alleviating worry about family or business finances is invaluable.
SouthState’s budgeting tools can serve as a visual guide to help you manage your money. In online and mobile banking, you can track your cash flow and spending as well as set your budget. Having a quickly accessible picture of your finances may show you more wins that you realize. You can even make a plan to pay down any debt.
Need more help managing your finances? Find a local branch and work with a knowledgeable banker today.
