Bank Naked! Well at Least In Your Pajamas
by Barry Noret
Nearly everyday we receive offers in the mail for signing-up
for an online banking. And with most all-major banks bidding for your business,
now is the time to begin online banking. You can easily take control of your
money 24 hours a day. If you have been considering becoming one of the thousands
of people already banking online you may want to consider the following things
when you choose your bank.
The first thing is whether your brick and mortar bank is
online, and if they are, why not use them? If you aren’t particularly happy
with your current bank, then shop around and see what offers are out on the net.
There are some neat deals floating around, such as $100 for opening a new
account. We have seen Security
First National Bank and Citibank
make such offers recently. Also there are many online investing firms that allow
you open investment accounts with check writing privileges. This can be a very
nice situation. Currently the nicest online banking situation is NetBank.
They also have online cd's and mutual funds! We like their whole plan.
When looking for features for online banking, we prefer to
choose those banks that don’t require additional software to connect to your
accounts. It should all be accessed from within your web browser window. This
makes it less confusing and more user friendly. You shouldn’t have to take a
class in order to manage your account online! Besides this basic requirement,
make sure your bank has the minimums listed below:
- Have a reasonable initial deposit ($100)
- Allow Direct Deposit of Payroll Checks
- Issue ATM/Visa Check Card, with national access and at
least 10 free transactions a month
- E-Payment of Bills (At least 10 free per month)
- Prompt Crediting of your deposits (your snail mail
deposits)
- Free- Personal Checks and no check writing fees
- 24 hour 1-800 customer service (when you just feel like
talking to a human)
- Online images of cancelled checks (this is an awesome
feature)
- Account data exportable into your personal finance software
No matter your financial situation, now is the time to take
control of your money and choose to move online with your banking. If you have
had troubles in the past, don’t despair. Just open your account and be
diligent about not spending money you don’t have. If you have been listed on ChexSystems
and are having a hard time opening a bank account, we have been told NetBank
does not check with ChexSystems for
verification. There is hope for all of us.
Happy Banking!
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