Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In light of all the recent financial problems that many have encountered, do you use your banks online bill pay service? Is it risky to have all your debts linked to your checking account so someone could look and make a judgement call about your financial health? Until now, I had looked on this as a convenience (no stamps, easy to pay from and reconcile your account) but now I am having my doubts that I should put all that information willing into the hands of my bank... Your thoughts??
I actually got better with paying bills on time paying online. I used my bank account bill pay so I can pay all bills from it's site instead of logging in on various sites not knowing if they are truly secure
I havent done my cell phone because I never have trusted any phone company because of things sometimes dont add up in the bill but everything else it been a real savior in making less stress for me.
With mine I can schedule Bill Pays, which is usually 2 days before the due date and just make sure I have enough to cover it by then Since with mailing Ill procrastinate big time .
The only bad habit I have is doing some account activity in public WI FI I know Im putting myself at risk but I do it every so often supposely my Norton will block attemps but you never know.
Make sure you log off or disconnect from your Internet if you have financial information on the computer
In light of all the recent financial problems that many have encountered, do you use your banks online bill pay service? Is it risky to have all your debts linked to your checking account so someone could look and make a judgement call about your financial health? Until now, I had looked on this as a convenience (no stamps, easy to pay from and reconcile your account) but now I am having my doubts that I should put all that information willing into the hands of my bank... Your thoughts??
I don't understand your reasoning. How would paying your bills through online bill pay (as opposed to writing a check) make it easier for your bank (or anyone else) to make a judgement call on your financial health?
We don't do online banking/billpay and don't intend ever to do so. Just too paranoid about security at that level.
We do, however, pay certain recurring bills (cable and satellite and monthly charitable contribution) online through automatic billing to a credit card. However that is a dedicated credit card that is used only for that purpose and for online purchases. And there is no link whatsoever to any of our bank accounts.
I also have a PayPal account which requires a linked credit card AND bank account. However, that bank account is at an entirely different bank from the one we use for everything else, and it's only used for PayPal and nothing else. Ditto for the credit card which is only used for PayPal and eBay fees. So that is truly a stand-alone situation. If it wasn't for PayPal's requirements, I wouldn't have it at all.
We don't do online banking/billpay and don't intend ever to do so. Just too paranoid about security at that level.
The only thing needed to steal money from your account is the routing/account number. You put that information out there every time you write a check. In addition, many checks are cleared through automated systems with virtually no human interaction. Many of the computers that are used to clear our checks are owned by the same companies the banks use to deliver/clear our online bill payments. Your information is out there whether you like it or not and there is nothing you can do about it.
The only thing needed to steal money from your account is the routing/account number. You put that information out there every time you write a check. In addition, many checks are cleared through automated systems with virtually no human interaction. Many of the computers that are used to clear our checks are owned by the same companies the banks use to deliver/clear our online bill payments. Your information is out there whether you like it or not and there is nothing you can do about it.
I totally agree. I have a few friends and family members who refuse to do any financial banking or transactions online. And I tell them the same thing, your information is stored online anyway whether you want it to be our not.
I think writing a check and sending it the mail is much riskier. There's a chance for it being lost or someone opening it up. Either way it is risky, so why not take the risk of doing it online where it's much more convenient and faster.
I've been paying bills online for over ten years with no problem. The security has also gotten better. If you don't identify the site pic you chose or don't answer the secuity question right, you're not getting in anyway. I trust it and do it with several banks.
[quote=totallyfrazzled;6786796]We don't do online banking/billpay and don't intend ever to do so. Just too paranoid about security at that level.QUOTE]
It is far more secure to pay online than to write checks. You write a check and it will pass through many hands. Anyone of those hands could steal your information. Pay with computer and it pass' through no hands.. Much safer...
When I see people write checks, I have to wonder what century they are from, it's so obsolete. I write maybe three of four checks a year, at most.
I pay for everything with CC and pay the bills on line. No fuss, no muss, and COMPLETELY safe..!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
