Smart Ways to Pay: Pros, Cons, and the EVB Way
When it comes to paying for everyday purchases or bigger expenses, you have more choices than ever. But which payment method is best for you? Each option has its own advantages and drawbacks. Elkhorn Valley Bank is here to help you understand your choices and provide tools to make every payment secure and convenient.
What Are the Pros and Cons of Paying with Cash?
Cash is simple, widely accepted, and doesn’t come with fees or interest. Many people also find that paying with cash helps them stick to a budget. However, carrying large amounts of cash can be risky, and if it’s lost or stolen, it’s usually gone for good. Cash also doesn’t work well for online shopping or larger transactions.
EVB’s Fix: With Elkhorn Valley Bank, you can easily access your cash through surcharge-free ATMs and track your spending through our online and mobile banking tools.
Are Checks Still a Good Payment Option?
Even in today’s digital world, checks remain useful for certain situations like rent, gifts, donations, or paying larger expenses. They also provide a clear paper trail. On the downside, checks can take days to clear, carry the risk of theft or forgery, and aren’t practical for everyday transactions.
EVB’s Fix: With EVB tools, you can retain detailed records, monitor your account, and use EVB Bill Pay to send payments quickly and securely.
Why Use a Debit Card?
Debit cards are accepted widely in stores, online, and at ATMs. They provide immediate access to funds, making everyday purchases easy and eliminating the need to carry cash. However, lost or stolen cards can create account access issues, low balances may lead to declined payments, and there is potential for fraud.
EVB’s Fix: Elkhorn Valley Bank debit cards come with card controls, instant transaction alerts, and added security features through our mobile app to help you manage your accounts.
How Do Digital Wallets Work and Are They Safe?
Digital wallets, like Apple Pay®, Google Pay™, and Samsung Wallet™, allow you to make fast, contactless payments using your phone or smartwatch. Transactions are encrypted using tokenized transactions, which adds a strong layer of security. They’re ideal for travel and on-the-go spending. However, digital wallets are not accepted everywhere, rely on device battery life and connectivity, and can take time to set up and learn.
EVB’s Fix: EVB debit and credit cards are fully compatible with leading digital wallets, giving you flexibility and security at checkout. You can manage your cards securely in the EVB mobile app, with local support available to help you get started or troubleshoot.
Which Payment Option Is Right for You?
Whether you prefer the simplicity of cash, the record-keeping of checks, the convenience of cards, or the speed of digital wallets, each method has its place. At Elkhorn Valley Bank, we provide the tools, security, and local support to make whichever option you choose easier and safer. Stop by your nearest branch or visit us online to learn more about how EVB can help you manage your payments confidently.