Baby Boomers, have you tried on-line banking? You might want to consider it. To feel safe, put a month or so’s worth of money in a separate account in your bank. Make that your on-line account. Try paying your bills for a month and see how you like it. Pay small bills first so that you can become familiar with how it works. It looks like some of the mega banks use the same system. It also looks like some of the mega banks don’t purchase as fully functional parts of banking on-line as some of their competitors. Pay the big bills by check for the first month and evaluate how you like it.
2 things you should see right from the start.
- The first is that you will be able to pay your bills in much less time than before you banked on-line.
- The second is you do not have to pay for postage.
If the individual or business you are paying does not have a way to receive electronic payments, then the bank will mail the check to the Pay To party at their expense. I save money and I save time. Has a payment ever arrived late due to no fault of my own. Yes and the bank will get involved in your behalf. Check your terms but my bank will take care of the late fee and any penalty. They will follow up with the Pay To party to make sure your account is credited properly when they are alerted by you that the payment has not arrived as it should have. You can have the bank alert you when it is paying your bill; that is automated in that you set it once by payee and it will always respond to that payee as you indicated. You can set up recurring payments as well. I have not paid individuals and companys by getting electronic bills but I still receive paper bills and pay them through my bank. You can also view your account’s activity for deposits, withdrawals, etc. It is helpful to have some of this information when you rectify your monthly statements.
If paying bills on-line is not for you, just cancel the on-line ability to transact business from this account or try another bank as it may have software more to your liking. You are the customer and things should be done the way you want to do business. If you are not comfortable, go to where you are comfortable. Take small steps, try new things that make sense and that others are using. Ask your friends if they are using on-line banking and how they like it. What do they like? What would they like to change? Which financial institution are they using? Are they using credit unions? Based on what I have read, I would not suggest doing this from a cell phone or a wireless connection. I would only use an ethernet cable connection from your computer to your home modem and only access your on-line banking from home through a favorite so that you do not mistype and go to a website with a similar name that may scam you. If you change passwords, payees or payee’s information for example, the bank automatically emails you and this helps prevent fraud. For more information on good deals, discounts and bargains, you might want to try www.discountdealguide.com