Online Banking Finally Taking Off?
from the could-it-be? dept
I’ve been using online banking for a while now, and it’s great. I can’t imagine ever going back to living without it. It seems I’m not the only one. The NY Times has an article (of mostly anecdotes) saying that online banking is really taking off. While there have been online banking operations for a while, many of the big name online-only banks (or online spinoff banks of brick-and-mortar banks) ended up failing. That doesn’t mean that it’s not a useful concept, though. However, the article also points out some of the downsides of online banking. The biggest one is that usually when you pay by electronic check, the money is immediately taken out of your account – as opposed to when the recipient cashes a regular check. I know I had a problem with this last year when an electronic check of mine was lost. I couldn’t just write out another check, since the money was already gone. As a completely random aside, I’m pretty sure I went to business school with the guy they talk about as the “power online banking user” at the beginning of the article.