Community Chat

[Coastalcarolina]

I know this topic is a few days old. I had to add my "two cents"!
My son works in the banking industry for IT security department.  I asked him about the safety of online banking and firewall protection.  He said the banks firewall is secure.  Yours may not be on your end.  There is the security breach danger.  So each person takes a risk every time they use it.  It was enough to stop me.  I will not use it at this point until no other option.  So I am one of those that digs my heels in and refuses to comply.

[Tinkrbl44]

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@Coastalcarolina wrote:

I know this topic is a few days old. I had to add my "two cents"!
My son works in the banking industry for IT security department.  I asked him about the safety of online banking and firewall protection.  He said the banks firewall is secure.  Yours may not be on your end.  There is the security breach danger.  So each person takes a risk every time they use it.  It was enough to stop me.  I will not use it at this point until no other option.  So I am one of those that digs my heels in and refuses to comply.

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@Coastalcarolina 

If I am understanding your post correctly, and your IT son says the bank's firewall is secure, and your security may be in question, why aren't you having your son, the expert, check your computer and security programs to make sure YOU don't have a problem?

IMO, this isn't about compliance ... or refusing to "comply".  Procedures change from time to time in every industry.   This is nothing new, and making sure you have a secure device is YOUR responsibility, not the bank's problem.  

[Tinkrbl44]

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@Somertime wrote:

My BOA branch closed recently after 26 years.  I fully use online banking for everything even deposits.  The only time I used the bank was to cash savings bonds, open a new account or access my safety deposit box.  I have several ATM's nearby by if I need to obtain cash and I am not charged a fee by BOA for using them.

For me, online banking is an absolute pleasure, I can access my account anytime during the day or night, pay bills, transfer funds at any time that is convenient for me, no appointment necessary!

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@Somertime 

Me, too .... and I love being able to bank in my pajamas while my cat is next to me, purring away.    

[Coastalcarolina]

I was just stating that not everyone that uses online banking may know how to keep his or her technology up to date.  Things change quickly with these devices.  I was trying to give food for thought for those that may not be ready to get on board.  I know it is my responsibility, and I take it seriously.  Just trying to help those that might not know these things.

[Porcelain]

I can go into my credit union and my bank during business hours and it's no big deal. Both places have tellers. No appointments needed. I was at the bank about two weeks ago to sign some papers. I showed up without an appointment and they could see me pretty quickly.

I prefer drivethrough, but sometimes it's easier to sit down with a banker, briefly. I monitor my accounts online and move money that way as well. A hybrid approach is always going to be easier on the customer.

[Duckncover]

Had to go inside the bank a couple of months ago to meet with a notary...it's a whole 'nother world now. Hadn't been inside a bank in years. 

[meezer2]

I work for a large credit union and we are short staffed in offices and behind the scenes.It's a challenge to find people to work as tellers and keep them. At our corporate office there is a huge turnover due to retirements and these are employees that have 30 to 40+ years. This is alot of knowledge/experince leaving and no amount of college can replace. Like anything else if you love your job it shows by how you treat customers. 

[Tinkrbl44]

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@gidgetgh wrote:

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@Laura14 wrote:

In the past year, I've moved most of my money to an online bank. I've made more in interest in one year there than I did in the 20 years I had it at the traditional bank.

It's scary to do anything the first time but the online banks have been around now for over a decade and they are FDIC insured. Making a deposit by phone is as simple as taking two pictures so the bank can read the account and routing number and have your endorsement on file.

Carrying around checks, sending them, or having a checkbook is more unsafe now because of all the hands touching or potentially touching it. I can take one of your checks you send me and order blank checks using your banking information printed on it or just set it up as an instant payment method for my Amazon or QVC account in two seconds if I was a thief.

I think what you are seeing is the online banks are putting the traditional banks out of business because people like me got tired of ten cents a month interest and higher balances to avoid ridiculous fees. I'm not paying banks for the privilege to have and use my money.

My bank just merged with another and I have been relatively unaffected with what I do but a lot of people have not including my mother who retired from banking. When you're placing a hold to deposit a check drawn on your own bank, something is very wrong with your service. Customers notice and we leave for better pastures.

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@Laura14 20 years ago, personal savings interest rates were really good (compared to now at least). I'd be interested to hear which online bank is giving you that kind of return on your account. And I mean that seriously.  I'm interested.  I have an online account with American Express and it paid really well for years, then, Like all the others, it started declining.  It still pays just under .50% but if there's something better out there, I'd be interested. 

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@gidgetgh   @Laura14 

My sister just bought .... of all things! ..... some savings bonds.  Seven percent interest.  She didn't buy a lot, this is in a first time, trial stage,  for her but .....  seven percent!  

[Laura14]

@Tinkrbl44  OMG, you just reminded me I have all those bonds from when I was a kid! I have no idea how much all of those are worth or even if they are still earning anything. Thry were 1970s inflation bonds. I could be rich! I need to google and find out how to check that. 

That's fantastic! For 7%, I might check them out myself. I wonder how long the term is now? Even if I'm dead, I want my money brought to my grave and spread out all over so I can roll in it.   

[gidgetgh]

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@Laura14 wrote:

@Tinkrbl44  OMG, you just reminded me I have all those bonds from when I was a kid! I have no idea how much all of those are worth or even if they are still earning anything. Thry were 1970s inflation bonds. I could be rich! I need to google and find out how to check that. 

That's fantastic! For 7%, I might check them out myself. I wonder how long the term is now? Even if I'm dead, I want my money brought to my grave and spread out all over so I can roll in it.   

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@Laura14 - EE bonds fully mature in 30 years.