Online/E Banking

[Blacksocialite]

[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

[GMAKA1949]

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.

Originally Posted by GMAKA1949

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.

[NinjaPoodle]

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.

[GMAKA1949]

Originally Posted by BrownSugaBabe

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

The paypal account isn't really too convenient if you need the money real fast. It takes 3-5 days to pull the money from your account to the paypal account, and it also takes 3-5 days to transfer from paypal to the other account. I only use it because I'm lazy, and I hate going to the bank. I also use it because I don't need to use the money right away.

[titan257]

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

[tnxbutterfly]

Originally Posted by titan257

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

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.

[preciousjeni]

Originally Posted by tnxbutterfly

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.

Great minds...

[preciousjeni]

Originally Posted by titan257

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

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.

[BlessedOne04]

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?

[tld221]

Originally Posted by BlessedOne04

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?!

[BlessedOne04]

Originally Posted by tld221

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

Its a credit union that is near my alma mater.

[SummerChild]

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

Originally Posted by titan257

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

[titan257]

Originally Posted by SummerChild

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

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.

[SummerChild]

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

Originally Posted by titan257

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.