You Have to Love Online Banking

I had to write a check a couple of months ago. I just didn’t know what to do for a good bit until I went online to my bank.

I have been using online checking and bill payment for a few years. It is so easy and is free with my bank account. Well, because of this, I stopped writing checks. When it came time to send a payment to a friend for some work he did, I could have asked my wife to write one, but I am trying to be more self-reliant, so I found that I could issue a check through my online bill payment system. Whew…

Online banking has been a huge benefit to me as I start preparing to do my taxes, too. My VISA accounts all offer electronic statements. A couple of years ago, this was a bit of a pain, though, because the bank only kept six months available online. I could order back copies, but it cost me some money to do that. In the last two years, though, it has been fantastic when it comes to taxes because each of my VISA accounts has an available end of year summary of my charges. I downloaded the end of year summaries and am going to use those for my proof of payments for my tax deductions. I printed them out so that I have a copy to keep with the hard copy of my taxes, and I also saved an electronic copy as a CYA.

If you aren’t leveraging all of the benefits of online banking, I strongly encourage it. I have found the benefits to be plentiful:

  • Proof of payment through the online payment tracking system.
  • Ease of payment once the account has been configured.
  • Faster payment – no more trying to estimate the time it takes to mail payments.
  • Cheaper payment – no more envelopes, no more stamps, no more dropping bills off at the post office.
  • Easy review of past payments.
  • No checks that can be stolen.
  • No credit card statements in the mail that can be stolen.
  • No savings account information that can be stolen.

I do have one HUGE worry, though. If we do have a zombie apocalypse, I may be screwed as I have no cash stashed in the house, and I may have problems with finances when the zombies attack. I may not be able to buy an ax or a chain saw if the stores can take credit/debit cards.

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