Online Banking Anyone?

[dfkrug]

One 5 bedroom home is rented to 5 students... it's been OK the last 4 years... but the rent is combo of money orders, check and cash... as each puts in their share.

Sorry to hear that, Curt.

I don't use ATMs, either. It is amazing how many folks go to ATMs multiple times/week to get
out $20. Robbers also love ATMs and their customers.

As for online banks, you can get 1.45% at several online banks right now. Synchrony Bank and AMEX
are both at 1.45% for FDIC-insured savings, but Marcus (Goldman-Sachs) is at 1.5%. A one year
insured CD at Synchrony is 2% now, which is tops. You have to check every few weeks, esp now with
rates on the rise. These are large national banks insured by FDIC to $250K/person, just like your
local CU or bank. I use several of them, but a local Credit Union for billpay, checking, and as a
main institution that sends/receives transfers electronically with all of my other accts. I can even walk
in when I want to get some cash.

I still use the occasional paper check, but only for govt entities (DMV, IRS, etc.). For those who
think paper checks are safer than electronic transfer, the opposite is really the case. If you
mail a paper check, or hand one to a stranger, it has some pretty sensitive data on it, and it
can be purloined for nefarious purposes.

 

[MossRoad]

It would be nice but in this area property management still requires banking as some pay in cash...

One 5 bedroom home is rented to 5 students... it's been OK the last 4 years... but the rent is combo of money orders, check and cash... as each puts in their share.

Still use checks too... it has saved me a few times as in when a tenant claimed they did not receive their deposit upon leaving... simply present them with a copy of the cancelled check... one was really ugly as the husband and wife were separating... she kept all the money and told him I didn't refund it.

There was an issue with the DMV where two car registrations were delinquent with penalties of 25% plus interest and a threat to turn over to the State Tax collector.

Again, my cancelled check saved the day... the official reason is there was a glitch and about 30 renewals didn't post and I wrote a check, properly identified for two vehicles that both renew on the same day...

Oh, I didn't say we don't write checks or take checks. We do both, still. But we were depositing checks at the ATM 20 years ago, and nowadays, you just take a picture of it with your phone and it goes into your account. Don't have to physically take the check to the bank or ATM anymore. Very fast and convenient. And if you should need a copy of a cancelled check, that's still available.

 

[bunyip]

I use a credit card as well as a debit card and only have the credit card so I can salary sacrifice to give me my first AU$34,000.00 tax free which is a benefit with health and allied industry.
It is paid almost as soon as it is used as I don't want the 19.9% it attracts, very hard to find a credit card with low interest and people don't seem to complain plus the rewards give me about $100 every two months.
Generally banks are viewed as vermin who are only interested in profit and not the customer.