[slowandeasy]

Hello
Just a quick question if you sign up for online banking how safe is it? My bank says it would be eaiser for me to do banking online and pay my bills since it so hard for me to get around I quess I just wonder about safety I worry someone would get my information
Any thoughts?

[ScottGem]

I've been using online banking for close to 20 years now. Even before the WEB when I dialed directly into my bank via a dialup modem. I have been very happy with it and have never had any major instances of lost money, identity theft etc. The convenience is fantastic.

[NeedKarma]

I can't imagine living without it. I bank from home and from work. In my esteemed opinion it's safe. As with any security/privacy related application make sure you protect your computer with good antivirus and anti-malware applications so that nothing gets installed that gathers your keystrokes (that's the only danger I see). I have had no issues with security at all.

[slowandeasy]

Thanks ScottGem and NeedKarma

I will sign up for it. This may sound dumb but how does it work as far as paying your bills ?
Can you see the transactions as you do them and do you have to notify say your phone company that you will be paying on line? I am from the old school and computers are still somewhat new to me when it comes to things like that

[NeedKarma]

There should be an area on the website where you select the companies which will accept online payments. Then you have to enter your account number for each company/payee. My service remmebers all that info so that I just have to select the payee from a drop-down box.

[ScottGem]

This depends on your bank. With my bank, they have a list of merchants (its a very extensive list). You find your merchant on the list and set up a payee account. Generally if the merchant is on the list, they make the payment using EFT (electronic funds transfer), so the merchant receives the payment within 2 business days. If the merchant is not listed, you can manually set up an account for them and the bank will mail them a check.

So, no you don't need to notify the merchants at all. Since I get paid twice a month, I sit down just before payday (I have Direct Deposit) and pay all the bills coming due during that half of the month. I schedule the payments over the half month period, giving 2 business days for EFT and 7 calendar days for check payments. Some of my payments go to accounts with the same bank, (loans, credit cards), those I set up as transfer and can schedule for the date due. I then printout a listing of the scheduled payments and transfers and enter them into Quicken. You might be able to do a download directly into Quicken or Microsoft Money if you use them.

[slowandeasy]

OK thanks for the good information. I have one more question I have two accounts one for paying bills and one for spending can these accounts be linked so I can see them online
At the same time?

[NeedKarma]

All your accounts should show up online.

[ScottGem]

Again this depends on the services offered. But generally, yes you can have all the accounts you hold with that institution linked. I have about 8 or 9.

[slowandeasy]

Thanks for all the helpful information! I feel better about banking online now You guys are great with information!