Online/E Banking
 

Does anyone participate in this form of "banking" with your financial instituion?

I have just accessed my institution's site. I do not intend on doing "serious" banking transactions over the 'net. I would like to be able to get updates, if you will on my accounts.

Maybe I'm just a little old-fashion but I haven't started that yet. But I do intend on it and like yourself I surely don't intend on doing any heavy banking online. I feel better simply going in the bank seeing faces and handling my business. Besides its right around the corner from my job. Let me know if you find it interesting and easier.

YUP
 

I just check my balance and sometimes to checking/savings transfers Via ( ;) ) the internet. I guess I feel pretty safe doing those simple transactions because it was easy to track everything to the T while I was a banker. During my time there, I never recieved any customer complaints about our online services. Alot of them loved online bill pay too. I would personally say stay away from that sort of thing because rain ,sleet, or snow they draft your account. Just imagine that in the event that you may need a few extra days or something. They take it anyway. Even if you wish to stop the payment you have to basically change accounts to prevent drafting.
:eek:

I feel that e-banking is very helpful b/c I'm alittle forgetful and its convient for me to check my balance, pay a bill, and view all the transactions from my account at the same time.

i do online banking, just to check my balance and make sure i've drafted my checkbook correctly. I even set up a link between my account and my grandma's so sometimes i deposit money in her account via online transfers instead of mailing her a check or money order. I was considering setting up the online bill pay, but thanks exquizit for the heads up! I'd much rather write a check or just call in a payment when i KNOW i got some $$ in the bank to cover it!

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BLU

Right now I work for a bank, so I enjoy all of the online banking services at no cost. I love the convenience, even the online bill pay.

About the online bill pay, though - at least for my financial institution, you don't have to have the payments "auto-drafted" the same time each month. You can set up a list of payees, and just use them on whatever day you'd like. Another thing I like about this is that your account is debited for the payment next day, instead of waiting days for a check to clear. Plus, I used to be good for putting a bill down in my purse or briefcase meaning to mail it.... and finding it there two weeks later.

I do on-line banking to track my day to day transactions and balance transfers and that is it. It is better because I get to see it instead of hear it on the phone.

Sphinxpoet

I do online banking. No I don't pay any bills online, but I do check my balances, transfer money, and check which checks have cleared. I must admit it, like it. :)

Well I can say that I am an internet banking-a-holic! The reason I have converted to internet banking because my bank decided to start charging for calling the Automated Telelphone system, plus the internet banking is so much easier because you can see the name of the place you used your card (for those times that you forget) and also the people who work customer service at my bank are stupid. But I feel sorry for them because I work customer service at a bank myself. I can say that you should try it out to see if you like it!

I'm all up for online banking. When the anthrax scare was going on, I quickly enrolled in my bank's online banking feature. To this day, I haven't had a problem and I feel pretty safe using it. I can't remember the last time I used a stamp because I pay my bills online, in the store or they are automatically are debited from my account. I've got my bills saved and I just go in and specify how much I want to pay and hit send. Others are on an automatic payment schedule, so I just check to make sure they have been sent. It's a very convenient feature of banking.

I have been using on-line banking through my bank for about a year - and I love it - I used the USPS bill pay service for a few months and didn't trust it as much. No more checks, stamps, wondering how long the mail is going to take - most payments post in a day or two, some take up to 5 days.

The only thing that is strange about it is my bank statement has quadrupled in size because my bank takes anywhere from 4-8 lines to record the transaction. Also, my sister who is in college has a debit card to one of my accounts and we no longer have to play "did you spend anything" each Monday morning any more - I know right away.

I love on-line banking!! Like many others have indicated, I use it to check balances, transfer money and pay bills. The biggies (morgage, car note) are set on a recurring schedule (same amount, same time each month) but other bills are set up and I just go in and put the date and the amount that I want to pay them. I tell ya, I ahve been much more punctual with my bills since I started using it. Like someone else mentioned, I was notorious for riding around with a bill in my purse waiting to go to the post office to get stamps, etc. I've only had one problem with my service and that was because of the payee and the bank took care of it right away. I give online banking 5 stars!!

I am definately loving this! I had to wait until my password was sent before I could actually "see" anything. This is the best! Now, I do not have to worry about my checks clearing or paying a dollar for my transaction history!

Yeyah, Baby!

:cool:

I am in the Army and I could not live with out E banking. It is the most convient way for me to conduct business and geesh I have a lot. Been doing it for years and have to yet to have a problem:cool:

Like the others, I LOVE my online banking. I check balances, see what has cleared, do transfers and pay bills all on line. My car note is auto drafted, but since my bank holds the loan I got a break in the interest rate for doing so. I agree about auto drafts in general. This is really applicable to situations where you give a company authorization to auto draft your account (like your gym membership for instance) Once they start, they are loathe to stop. That can be a headache, but paying through your banks auto setup is different because you do have the power to turn it on and off. And my bank is great and has a system that allows you to cancel payments until nearly the 11th hour.

Now, does anyone use an internet based bank (has no real branches) like netbank.com or pcbanker.com? I so have a friend who has accounts with two on line banks because he gets way better interest rates with them and has never had a problem.

Speaking of online banking, does anyone have any feedback about the online savings account. Like the ING Orange Savings account. I am thinking about setting one up but I would like to hear from someone who's done it

How things change!

I LOVE online banking AND I pay MOST of my bills online. Since the Post Master is forever increasing the rate of postage, I will be going 100% with paying my bills online.

lol--I use it quite a bit, too. It makes things so easy, and the new security measures are reassuring.

I have a savings account with ING. I really like it. It's linked to your checking acount, but you control how much you want taken out and how often. Right now I get $20 taken out the 1st and 15th of every month. You can choose to have your statement sent to you by regular mail or email. They also tell you how much interest has been paid. Makes it easy when it comes to filing taxes at the end of the year.

The only down side is that if you need to take money out, it takes 2-3 business days for the money to post to your checking account.

I LOOOOOOOOOOOOOOOOOOOOVE ING Orange Savings. I was able to get some great CD rates before people realized that the economy had tanked, so I'm making far above the national average. Even now, you can get good CD rates through ING.

As for the savings, I have it set up to automatically transfer from my checking account on a bi-weekly basis (i.e. when my e-paycheck hits the bank).

The only thing about ING savings is that you have to be sure of how much money you're able to deposit at a given time. It can take a week to get the funds released back into another, more fluid, account. But, if you're good with money, it's a great option.

There are other services that can get you higher rates at times, but through trial and error, I have found ING direct to be the most consistent, secure and user-friendly service.

Great minds... :D

I love online banking as well. I think its been years since I've set foot inside a bank lobby.

I love my ING accounts. I have a checking, and a savings account with them. I also like the fact that they offer CDs with good rates, as well as the ability to invest through their partnership with Sharebuilder. For beginning investors like myself, they have a great deal of information on the ins and outs of investing in the stock market, etc.

I have been doing online banking since my bank started charging for visiting a teller and charging a fee each month. Granted its only $6 but that adds up over time! I am interested in the IDA (individual development accounts). Anyone have info about those?

umm. what bank you use that charges a teller fee?!

I've had an ING account for at least 5 years now. The interest rate is great (it's been more than 4% for what seems like forever). The only drawback is that you have to wait usually a couple of days to get any money as it has to transfer to an account from which you can retrieve cash directly. You might want to place a small amount of emergency money into that account but put the bulk of the money that you won't need to access w/in a day or so into ING.
SC

I use my online banking daily in order to check my balance and keep up with my transactions. I transfer between savings/checking, too. I don't pay my bills from it, but it has been very beneficial to me. I find it very easy to pop in and out when I need to check on transactions.

Im not really good with finances, but I need to start somewhere and I thought this would be a good option. Thanks for the feedback. Im excited about it now. :p

My credit union has had online banking for years now. However, they have added mobile banking in the last 2 years. I can either call or go online on my PDA which is very convenient.

I have thought about ING but haven't done anything about it yet, especially since they are US HQ right here in DE.

You're welcome Titan! It may also help you to set up the ING account such that money transfers automatically from one account into your ING account a couple of days after you get paid or at whatever frequency you deem suitable. I have this setup and I don't even think about the transfers. It basically saves automatically for me.
Good luck!
SC

I have an ING savings account. You should really try it. I was skeptical at first and it took me a while to warm up to the idea of putting my money into a virtual bank. I finally tried it and I stand by that bank. It is very user-friendly, safe, and the interest rate is great. Like others have said, it is best for larger chunks of money or money that you don't intend to touch for a while since it takes 2-3 days business days for a transfer to take place. Oh, you can also break your money into smaller sub accounts. Within my own account, I have my money broken into 3 different sub accounts like "overseas vacation", "wedding", and "regular savings".

Those who have created the ING accounts, can you see a considerable increase in what you have in the account now versus when you started the account?

If so, how long have you been with ING?

Soror,
I can see a considerable increase as compared to what I would have if I had a regular savings account (or even a money market account, I think). It is 4% and is compounded monthly. By just having money sitting there and using it then replenishing, I usually earn at least $100 per year in interest, sometimes more.

Its a credit union that is near my alma mater.

I've had an ING account since 2004 and to date this year, I've earned over 125.00 in interest. You know how much interst you earned depends on how much you have in the bank, so that will vary by individual.

I think it's fair to say that ING is the way to go. I will n ever move my money to a regular (local) bank again.

However, I do have my personal and business checking accounts with Wachovia.

I do ALL my banking on line. Pay bills, receive statements, transfer money. I rarely walk into a bank unless I have to deposit a check. I've been doing it for years. LOVE IT! I have 4 banks and never had one problem.

[Now, does anyone use an internet based bank (has no real branches) like netbank.com or pcbanker.com? I so have a friend who has accounts with two on line banks because he gets way better interest rates with them and has never had a problem.[/quote]

I do online banking and love, love, love it!

I also have a savings account with ING Direct that's consider an 'online' bank although they have offices and internet cafes in various cities. I transfer funds between my standard checking account and the ING account with ease www.ingdirect.com

I love OLB. I don't know what I'd do without it. It's so convenient. I check my balance online, pay bills, view my transactions, and send messages to my bank. I also have a paypal account in which I transfer funds from one bank to another. It beats that bank to bank wire fee. In short, the OLB frees me from writing checks, standing in lines at the bank, waiting in the drive-thru at the bank, and going to merchants to pay bills. I do all my banking and bill paying on my couch. I love it.

hmm...never thought of that. Sometimes I pay up to 6 bucks to put money in my sisters account.

I do OLB I'm just careful where I access my account. My company has a secure server but not on my laptop and I'm not sure about school.

I like OLB but I do still go into my credit union for those particular transactions I can't do online. Besides, the employees are really nice.:)