Banks have been offering customers the ability to bank online for over six years however less than 25 percent of Americans are banking online. At some point, banking online will be unavoidable for most of us.
Why are so many computer users still avoiding doing on line banking. For many it is a security issue and for others it is the fear of using the computer to work with their money. According to a Consumer Reports article on the subject, breeches of security have been rare, and if a cyber crook steals your money, the bank is obligated to replace the cash just as it would if an armed robber stole the money. Most banks use a special encryption, which scrambles data in transit between the banks computer and yours. The banks also have firewalls and virus-detection programs.
There are many advantages to doing your banking online. Most banks offer free online banking, which is a great tool to pay your bills. You can check your balance and history, view or print online images of your checks that have cleared or view your monthly statements. You can easily transfer funds between eligible accounts and see which transactions have cleared. All this can be accomplished anytime throughout the month, at any time of the day or night, from anywhere that you can access the internet.
So if you are on friendly terms with your computer you may want to begin managing your money with its help.