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Sunday, October 19, 2008

Online banking makes sense

Banking online is a treat that I never thought would exist in my lifetime. Do you do it? If not, you are missing a time saving, accurate, economical, and handy way to bank, especially when it comes to paying bills.

I used to dread the monthly bills. Utilities, credit cards, doctors, and whatever else all required sitting down with my calculator, a book of stamps, envelopes, return address stickers, and my checkbook to go through the boring rote activity of paying all these people.

When online banking came along, I must have been the first in line to use it. Now I can pay ten bills in one minute. It used to take about half an hour. Plus, I save 42 cents postage on each bill and don’t have to travel to the mailbox. Also, unlike having hard copy bills floating through the mail for three days, there is no paper trail when you bank online.

It’s a sweet deal but there are a few things to be careful about: According to Ron Burley of AARP always check the amounts and payees before hitting "send" (I have Bank of America and if you make a mistake, you can change it.). Beware of automated payments. Unless it is a regular mortgage payment or car payment, don’t allow deductions from your account. Check later to be sure transactions were processed correctly (I look at my account daily, it only takes a minute.). Never give out pins, passwords, or account numbers by phone or email. Also, be sure the "lock" icon is on your bank’s site to ensure extra security.

No, I am not doing a commercial for Bank of America, Chase, or anyone else. I am sold on online banking and I want every one to know how easy it is. Look at it as a service to you from me as a "thank you" for going online and reading and commenting on my blogs for the last few years.

Now....if I can get everyone to start charging everything on a credit card and paying it off monthly while accumulating points towards cash, I will have accomplished my goals.

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