On-line Banking

[audie]

I still haven't made the change either. Everybody I know uses online banking and I'm still writing checks and sticking stamps. They say I'm crazy. I guess I'll move on over some day.

i'm with you - still pay bills the old way. the main reason i haven't done it online is because i manage to mess this computer up soooo much, i am not comfortable relying on it to pay bills !

 

[audie]

i use it to transfer money between checking/savings, and to monitor our checking account - that's how we discovered our mail had been stolen and checks were being used. it is definitely good for these types of things. the main reason i started using it was that both of our employers went to direct deposit of payroll, so i always make sure our money is in there before paying my massive amount of bills.

 

[Smiling JOe]

see posts 7 & 8.
I use both regular checking with local banks (because I like to be able to ask for favors when the occasion calls) and with an online bank, which has served me well. The only problems I have with online banking is that the bank keeps the float (not that it amounts to much) and the payments can take as much as five business days, which would make my Amer. Express payments late each time. One other inconvenience with my online bank is the delay from mailing checks to them to it actually being deposited into my account.

One advantage to the online bank is that it pays a higher interest than most local banks.

Advantage of using local banks is that I like to be able to have my bankers know me which makes getting loans and shuffling paper much easier. My local bankers take great care of me. I guess it helps to know the owners and the execs.

 

[bsmart]

see posts 7 & 8.
I use both regular checking with local banks (because I like to be able to ask for favors when the occasion calls) and with an online bank, which has served me well. The only problems I have with online banking is that the bank keeps the float (not that it amounts to much) and the payments can take as much as five business days, which would make my Amer. Express payments late each time. One other inconvenience with my online bank is the delay from mailing checks to them to it actually being deposited into my account.

One advantage to the online bank is that it pays a higher interest than most local banks.

Advantage of using local banks is that I like to be able to have my bankers know me which makes getting loans and shuffling paper much easier. My local bankers take great care of me. I guess it helps to know the owners and the execs.

This is how I am with my insurance needs SJ. I like to be able to speak with someone face to face, someone whom I know, rather than sit and wait for "the next available representative" to get with me on the telephone.

 

[audie]

This is how I am with my insurance needs SJ. I like to be able to speak with someone face to face, someone whom I know, rather than sit and wait for "the next available representative" to get with me on the telephone.

here here bsmart ! my insurance agent lives across the street - can't get much closer than that. i would rather pay a little more for personal service than just be a number

 

[Rita]

.....

One advantage to the online bank is that it pays a higher interest than most local banks.

Advantage of using local banks is that I like to be able to have my bankers know me which makes getting loans and shuffling paper much easier. My local bankers take great care of me. I guess it helps to know the owners and the execs.

We are very satisfied with our credit union and they know us by name, which we have found to be helpful. But we had noticed the higher interest rates on some savings products of the on-line banks which are enticing us to put some moneys there also. I think we'll give it a shot, but keep our familiar contacts also.

Thanks everyone for your comments.

 

[Smiling JOe]

We are very satisfied with our credit union and they know us by name, which we have found to be helpful. But we had noticed the higher interest rates on some savings products of the on-line banks which are enticing us to put some moneys there also. I think we'll give it a shot, but keep our familiar contacts also.

Thanks everyone for your comments.

Nothing is set is stone. Take the online banks rates to your local bank and see if they will compete to keep you as a customer. My local banks like my business and will compete to keep me satisfied, and I am far from being a wealthy guy.

 

[Oldtimer]

When on-line banking became "free" at Wachovia I switched and I love it. I can go on vacation (or away from home) and schedule all my bills to be paid. I've never been late and I don't schedule early payments. I even pay bills that require a check to be written. No complaints from this "oldtimer" Actually, I love it!!!!

Just need more money to spend!

 

[OhioBeachBum]

I've avoided online "bill paying" and "internet banks" for the reasons cited by SJ and Beach Runner. Handle primary banking with credit union - has all of the web-based account management stuff and we use that facility frequently. Check mailing "lag time" is, at least in our case, very predictable (and our limited experiences with the alternatives were not). I'm also adverse to the "debit-up-front-pay-out-later" aspect of the electronic alternative. I've also had to make use of the "paper-trail" established by a check several times in the past decade.

 

[ShallowsNole]

My local bank recently began offering online billpay, and I'm thinking of trying it if/when I change ISPs and get a significantly faster internet connection.

Till then, it's write, lick and stamp - with the occasional emergency pay-by-phone.