![]() Schedule your payment if you do not want it to be paid right away or if you’re setting up recurring payments. ![]() Choose whether to make a one time payment or set up recurring payments.Click on the page for your credit card account.Go to bbt.com and sign in using the login box on the right side of the page.Once you’ve activated your BB&T online banking account you will be able to pay your bills easily by following the instructions below: Follow any further instructions provided by the website.Click the “Next” button at the bottom of the page.Enter your BB&T account number and your social security number.On the next page check off what kind of BB&T account you have.This article assumes you are enrolling a personal credit card account You will be asked to enroll for either a personal account or a business account.Click on the “Enroll Now” button underneath the login box on the right side of the page.Simply go to the online banking overview page and follow the instructions listed below: In addition, surveys suggest that the growing number of smartphone users increasingly rely on their smartphones to help make financial decisions.If you already have a personal credit card with BB&T you can go easily sign up for their online services the same way you would sign up for their regular online banking services. As consumers become more familiar and confident in mobile technology, the use of apps and web tools for banking will increase. Mobile banking provides convenient features that are increasingly sophisticated and capable of replacing brick-and-mortar service. The ways consumers bank and pay for purchases have changed immensely since the Federal Reserve started to conduct a triennial survey almost 20 years ago. As a result, most online banks don't charge a monthly account fee, charge less for other services such as overdraft fees and offer higher interest rates. The lack of physical locations means less expenses for the banks and can mean better-priced services and products for the consumer. Online banks largely function in the same manner and have the same consumers as those with physical branches however, they do not have the brick-and-mortar locations to maintain. The monthly fee and waiver requirements vary from bank to bank and state to state. For example, some higher tier checking accounts offer benefits like waived ATM fees, product discounts and the potential to earn interest, but charge higher monthly fees that have higher waiver requirements. As a result, there are several tiers of bank accounts with different features, benefits and fees. Large banks provide a wide range of products and services for people of all financial situations. Below is a table of current average, low, and high savings, money market, and interest checking APYs. Lastly, the battle for consumer and business deposits to fortify their balance sheet remains intense as regional banks lose deposit share and online banks gain deposit share. Further increases this year are unexpected despite strong domestic economic data as various global events such as the uncertainty of Brexit and the trade war with China remain unresolved.ĭue to expectations that the federal funds rate will remain the same, consumers are seeing marginally lower rates in a wide range of financial products, including mortgages, loans, and consumer deposit accounts. As of right now, the rate sits at a target range of 2.25%-2.50%. The federal funds rate grew from a range of 1.25%-1.50% in Jan 2018 to a range of 2.00%-2.25% by Dec 2018. The current average savings account balance is $15,634.67, which is also higher than the median savings balance of $7,000.Ĭontrary to the continual interest rate hikes that we saw in 2018, the Federal Reserve has left its benchmark interest rate unchanged since entering 2019. Average and Median Bank BalancesĪccording to the Fed's latest available data, the average checking account balance was $9,284.92, a much higher figure than the median balance of $3,400. We looked at consumer bank balances, deposit rate trends and fee policies at dozens of major banks to get a snapshot of the current state of banking in the U.S. The account products, interest rates and fees that banks offer tend to change gradually over time. What percentage of Americans do not have bank accounts? Which bank operates the most branch locations in the U.S.? What percentage of bank customers regularly use online and mobile banking? What is the median checking account balance in the U.S.? What is the median savings account balance in the U.S.?
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