Book Yoda. Business & Investing.

If I set up online banking on the computer and then decide to cancel online banking will that cancel my bank account.

no...they will just cancel the access that you have over the net....you will still need to close the account if thats what you want to do

2006-11-17 17:27:38 by c_uber

There are security flaws with many online banking websites. Learn what holes there may be in your banks security plan.

Or is money wired to the payee from my bank? Doesn't online banking cost the bank money? How come banks don't charge for this service. I'm not naive I know they pass on the cost to me but how?

Online banking is a bigger term than simply online bill pay. There are several ways your bank can pay your payee - one is that they simply mail a check. The other, if they do a lot of business with the payee, is to simply make an electronic payment (ACH) to your payee - usually places like your electric company. Another way, if the payee banks at the same bank, is to simply deposit money to the payee's account at the bank.

Any of these cost the bank no more than if you had written a paper check or had initiated an ACH/wire transfer and in some cases, costs them less.

Some banks offer these services for free, others don't. One of my banks charges me about $0.65 to send a check from the bank but doesn't charge me to electronically pay someone. Another of my banks charges nothing to send a check but they don't like doing an ACH so they charge me for that.

In the long run, nothing at a bank is free - it will be paid for somehow. Usually with banking fees.

2007-10-31 12:06:12 by HSB

I heard that if you pay credit card bills with online banking that it wont help you build score. Im trying to pay off a credit debt and im paying with online banking instead of driving to the bank.

Paying it off is..........paying it off...
doesn't matter if you pay it off in pennies!!
HOW you pay it off matters NOT!
As long as it's NOT LATE

2008-01-28 14:55:07 by redwing90022

How dangerous is online banking, especially for a teenager? Is is easy for fraudsters to get a hold of your account info because i think i would find it easier to bank online than to have to keep visiting my bank.

It's not that dangerous, as long as you AVOID PORN SITES on that computer. At least, use a known clean list of sites and never go anywhere else.

It's how most people get viruses. And keyloggers. But as for online banking, it's all done using encryption. I've been using it for a long time.

2008-10-26 03:58:08 by danc3r65

With the recent online banking revolution, now most of the banking transactions can be completed online, including billpay, balance check, online ATM, purchase insuarance, take out loans. But what is the newest service avaliable? What is your favorit feature?

On line Trading is one of the good product. This helps small investor by totally removing dependency on brokers and with d-mat and account linkage helps in faster clearance and more reliable trading.

Another is on line fund transfer. Earlier it used to take around 3 weeks to reach money to my parents (Go to bank, get draft, go to post office, send it, they receive it, go to bank, deposit, it get cleared, go to bank again, withdraw money whereas now it is instant transfer)

Next one is On line statement - You can monitor your account all the time whereas earlier you were dependent on statement of accounts.

Last but not least is overseas deposits which was rarely available earlier.

2006-08-09 02:55:04 by Dianna