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All About eWallets: Your Guide to Using an Electronic Wallet

03/04/20

What if we never had to deal with losing our wallets or purses again? What if a high-tech lock could keep our pocketbooks sealed tight? What if we didn’t have to replace our lost or stolen cards? What if we could complete all our purchases at the touch of a button? With the slow rise of the eWallet, these questions have been answered with an amazing solution.

What is an Electronic Wallet?

Just like it sounds, an eWallet is a digital pocketbook that connects your bank accounts, debit cards, and credit cards to your phone, allowing you to make quick and safe transactions. Currently, many eWallets come in the form of mobile apps that are free to download.

Why Are eWallets So Popular?

Electronic Wallets exist on smartphones, making them very secure and easy to use. While some digital wallet software allows you to connect a prepaid debit card to its mobile app, many operate using your checking or savings account information, or credit and debit card numbers.

How Can My Digital Wallet Help Me With My Savings?

With some eWallets, you are able to track and limit your purchases simply by depositing a set amount of funds. Let’s say you’ve only deposited $100 into your eWallet app. Now you will only have $100 to spend until you deposit more money. Increasing financial accountability is just one of many innovative eWallet features.

Link To Digital Wallet Apps Using Our Debit and Credit Cards

Pinnacle Bank has many debit and credit card options available for your eWallet. Our Pinnacle Bank Visa® Debit Card is one of the most convenient ways to pay, both online and offline. Our Visa® Debit Card links with a variety of eWallet apps, including Zelle®, Apple Pay® and Google Pay™, and more. Our Visa® Credit Card can also be linked with any eWallet and includes exclusive discounts and reward features. With a Pinnacle Bank card in your eWallet, you get all the benefits apps offer while maintaining your financial flexibility and security. Apply for a debit card or credit card today.

Use CardControl to Take Ownership of Your eWallet

Download Pinnacle Bank’s CardControl app alongside any eWallet apps you want to use. Using Pinnacle Bank’s CardControl app from within Mobile Banking allows you to customize your security settings on your debit and credit card(s). You can set spending limits on any Pinnacle Bank card and also have additional controls that will help safeguard your Pinnacle Bank card(s) from fraud. Securely paying for something has never been so simple.

There Are Many Different Payment Apps

Out of countless eWallet apps for consumers, some of the top ones are Zelle®, Apple Pay®, and Google Pay™.

Zelle®

Unlike other pay apps, Zelle® was started by top banks to establish more secure money exchanges. Verified users can transfer payments between each other using their registered bank accounts. While you can download and use Zelle® anytime, Pinnacle Bank will be unveiling it for all our customers later this year.

Apple Pay®

Apple’s pay app, launched in 2014, allows users to make purchases in stores, in apps, and online, or send and receive money between friends, all from their iPhone.

Google Pay™

Google has a variety of intuitive, integrated apps, including Gmail, Google Drive, and Google Docs. Now Google Pay™ is a top pay app because of its “swipe-to-pay” features, hyper-secure account encryption, and growing list of partner stores and financial institutions.

Set Up a Secure Checking Account For Your eWallet

Without a secure bank account, you can’t use eWallet apps and must stick to traditional, unsecured pocketbooks. If you would like more security when it comes to how you pay, learn more about our checking accounts today. We have many different options to suit you:

Personal Checking Account

We have several different checking account options to fit your eWallet needs, including our Diamond Secure Account , Free Checking Account, Select Checking Account, and Interest Checking Account. Each offers online bill pay and mobile banking features, plus our Pinnacle Bank Visa® Debit Card. All accounts take a minimum balance of $100 to open. Learn more about our accounts.

Diamond Secure Account

Our most secure checking account offers IDProtect® , which provides identity theft monitoring and resolution services. This is an important consideration when it comes to using eWallets.

Contact us  today to set up an account or ask questions about eWallets. We’re ready to help you make payments as effortless and enjoyable as possible.