Ask the Readers: Do You Use Online Banking?

By Ashley Jacobs on 18 October 2011 (Updated 25 October 2011) 146 comments
Photo: iStockPhoto

Editor's Note: Congratulations to windkey, Verl, and jenn for winning this week's contest!

Technology makes it possible to do almost everything online. From ordering groceries to buying books to paying your bills, you can rely on the Internet for almost anything. While most people have switched over to online banking, there are still people out there who opt to continue getting bank statements in the mail.

Do you use online banking? Why or why not?

Tell us if you use online banking and we'll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We're doing three giveaways — one for random comments, one for random Facebook "Likes", and another one for random tweets.

Mandatory Entry: 

  • Post your answer in the comments below 

For extra entries (1 per action):

  • Go to our Facebook page, "Like" us, and leave a comment telling us you did, or
  • Tweet your answer. You have to be a follower of our @wisebread account. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it. Leave a link to your tweet (click the timestamp for the individual URL) in a separate comment.

If you're inspired to write a whole blog post OR you have a photo on flickr to share, please link to it in the comments or tweet it.

Giveaway Rules:

  • Contest ends Monday, October 24th at 11:59 pm Pacific. Winners will be announced after October 24th on the original post. Winners will also be contacted via email.
  • You can enter all three drawings — once by leaving a comment, once by liking our Facebook update, and once by tweeting.
  • This promotion is in no way sponsored, endorsed or administered, or associated with Facebook.
  • You must be 18 and US resident to enter. Void where prohibited.

Note: Due to recent changes in Facebook's promotions guidelines, we have restructured the entry format of our giveaways.

Good Luck!

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Guest's picture
Perry

Yes, of course. Doesn't everybody :)

Guest's picture
Keith

there are people who don't use online banking? even my dad uses it and he is tech illiterate. it is very convenient!

liked on facebook!

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Carson M.

I use online banking because it's convenient and easy to use in terms of transferring money, managing my account, and sticking to my personal budget.

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Guest

yes

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Encore

Absolutely. My bank isn't even in my area so I use online banking for everything, including the phone app to do deposits. Of course to avoid the ATM fees, I usually go with a POS transaction and get cash back!

Donna Freedman's picture

I like you on Facebook.
(And in real life, too.)

Donna Freedman's picture

I love online banking: I can pay bills, move money from account to account and, best of all, get an online bank to siphon a chunk of money from checking each month, i.e., automated savings. I can't spend it if I don't have it.

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lmtease

Yes! In fact, I do all of my banking and pay all of my bills on-line. I no longer have a checkbook. I love it.

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Amy V.

Yes. I love my credit union's online billpay and being able to automatically transfer $ to my kids' college saving accounts.

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Nicholas

I have used online banking for quite some time now because it not only helps the environment, I don't have unnecessary papers lying around the house. Also the bill pay portion of online banking is nice since with a few clicks you can have your payment sent compared to waiting for it to get through the snail mail.

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Christie

We do have online banking for a savings account; it is something accessible, but not right there if we need it, so we use it for our emergency fund! We really like our local bank, which is not a large one, with local people who know you by name. I see them a few times a month, and customer service is important. (It is good for them too! I heard one of the bank employees' name on the radio in the car and she won $100 because I mentioned it to her when I walked in! :)

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Buffi

Oh, my goodness, yes! If it weren't for online banking, I'm fairly certain that I would be in the poorhouse. With online banking, I'm able to set up automatic payments for almost ALL of my bills - no late utility or credit card payments! Also, since my paychecks (and child support) are direct deposited, I can check to make sure that those payments have been posted. I also am able to assess immediately how much money is in my account when I am contemplating a major purchase. In addition, I have my account set up to notify me by text if my balance gets below a certain level so that I can avoid writing checks or making payments that will put me in debt. I LOVE online banking.

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Deb

Yes, I would be absolutely lost without it and probably paying late fees!!!

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Bucky

Internet banking only with an internet bank (ING). I had a brick and mortar bank as well until just recently but closed the account when they started packing on the fees. I now have to pay to use my debit/atm card to access my own money? Sorry but no.

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windkey

Yes, we do and it has proved quite convenient.

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Guest

Yes, I use online banking. I think it's way easier to use online bill pay rather than mail the bills. Online bill pay also saves money on stamps and envelopes.

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KarenJ

I would be lost without online banking! My husband and I work on commission and I have to constantly keep track of the amount of income available to pay bills. We rely on a line of credit, which we replenish as the commission checks come in. Having our regular bills on autopilot saves me a great deal of time, and makes sure that everything gets paid on time.

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richard

I use online banking. I find that I get a better interest rate than from a traditional bank.

Guest's picture

I totally use online banking - for almost everything. I've turned off paper statements for everything.

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Rachel

I use online banking daily! I like to manage my debit card purchases in real-time; this keeps my budget up to date and my finances in line! But I've definitely avoided looking at my online banking when I've made a purchase I regret.

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Rachel

and i "like" you on FB!

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Natalie

I use online banking, both for my local bank as well as several savings accounts I have at banks that are online only. It's very convenient to be able to manage almost everything online, with minimal paper and rarely having to even call the bank.

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Traci

Yes, I use online banking to save money and time. Most of my communication is electronic. I find it utterly convenient for my bills to be electronic also. Online banking is also a greener option by reducing the amount of paper needed each month.

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David S

Yes, a purely online checking account called Perkstreet- lots of ATMs and cash back perks when using the debit card as a CC. I'd rather have a B&M checking account, though- much easier to deposit checks.

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Francesca

I use online banking because it's quick and easy to make any payments, and I can see my most current transactions at any time.

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Tiffany

Yes! I just started about 2 months ago with my first online bank accounts. It has made it so easy to save and I love the high interest rate. I am hooked.

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"Liked" on Facebook.

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Brandon

I definitely use online banking. It is an easy way to see your most recent transactions and your bank statements. Furthermore, it is fast way to pay your bills online and saves paper! If don't currently do online banking, I highly recommend and encourage you to start!

Guest's picture

Tweeted: http://twitter.com/#!/TiffanyWashko/status/126332386077192192

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Craig

Every day. It's easy, convenient, and in my opinion, very safe.

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Betty

Yes, I use online banking and love it. It makes life so much easier!

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Betty

I liked your post on Facebook.

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Nancy

I love online banking. I rarely touch my checkbook and all of our bills are paid online and on time. Without it, I guarantee each of my bills would be paid late!

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jenn

yes, i love the convenience and instant access with online banking

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Sasha W

I definitely use online banking, I love technology!! It allows me to auto pay bills and put savings on autopilot while cutting back on clutter and protecting my identity by not having account information in the house where someone can take it. I liked the post on Facebook. I hope I win!! *crosses fingers*

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Betty

Tweeted a response on Twitter. http://twitter.com/#!/1bets1/status/126334233542279169

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Therese

Yes, it saves a lot of time and money

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ERHR

Not only do I use online banking, our primary accounts are at internet banks. I got my first bank account in 2003 so I have never not used online banking. I don't even know what that would look like.

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Kristy

Absolutely! It's so much more convenient that way. Although I am concerned about the security aspects.

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Lisa

Most of my banking and bill paying gets done online, but I still use checks for the few places that don't offer online bill paying...like our local water company.

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Gil

Yep, use it for paying bills, transferring money, checking up on our account. It's convenient and we haven't noticed any trouble with security.

Oh and I've liked the fb page!

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Michelle

yes, it makes paying bills and saving so much easier.

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Guest

Yes, mostly.

Guest's picture

We used to bank online, but we just switched to a local bank that doesn't offer a choice.

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Jennifer

I have used online banking for a few years now My paycheck is directly deposited, money is moved automatically to savings each month, I can pay bills from my computer at work, etc. It makes life easy!

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Nancy B from Many LA

I sure do - I HATE paying bills by mail, I HATE shopping in malls, I LOVE the convenience of staying home and ordering what I need/want. Now, if only I had more $!

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Megan

I use online banking for -almost- everything. I make a point of opening new accounts on the phone - it's just as free and easy, and my banker gets credit for it.

Guest's picture

Online banking is fantastic. With my ING account (which I will keep until Cap One starts pulling fee shenanigans) I divide my monthly expenses into different sub accounts, so I can see exactly how much money I have for each thing (rent, IRA, utilities, etc.). I really like being able to have it all laid out like that in front of me.

Guest's picture

Oh, and I also "like" you on Facebook.

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Elizabeth S

we use nothing but online banking!

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Elizabeth S

I like (love) your FB page.

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Alex

Yes. It is the easiest way to track budgets.

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Chris

I'm about to give online banking a try. I'm in the process of switching from brick and mortar to Charles Schwab checking and brokerage.

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Kaye

Are there really people under the age of 65 who don't online bank? It is easier, more convenient, as I can do it from anywhere, allows me more access to my account, and saves paper. Of course I online bank!

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Susan D.

Oh, yes. I use it.. Online banking makes it much easier to save, and to track spending.

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Eric

I didn't know there was a such thing as a bank branch anymore... lol

I am with an online only bank and I love it.

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Carmen

I do use online banking. It makes it convenient to pay bills (no stamps!) and better management of my finances. My credit union also offers interest checking if you complete three steps - one of which is to sign on to their online banking site each month (the others are using our check card each month and having direct deposit of our paychecks - all things we do anyway).

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Aaron

Big fan of online banking. Love it. easy to use and check balances

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hminnesota

yes. I do online banking.

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Guest

Yes. I'm actually online banking and commenting at the same time. :)

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Eric

I bank almost exclusively online at this point. I go through Fidelity and they have only one branch around, but do my deposits via my iPhone and mail.

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Eric

I like you on Facebook :)

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Christina

Yes, I've been using online banking since the very beginning. I have trouble staying organized, so I usually lose the paper statements or forget to pay them in time...

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Anne

I use on-line banking for personal and professional purposes. I especially like being able to set up automatic bill payments and being able to transfer funds easily from one account to another. I still like to visit my local savings bank because the people there are always very friendly and helpful.

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Lee

Absolutely. If I didn't have online banking for my bank, I'd have to use phone banking or keep a running total in my checkbook. USAA has no physical locations anywhere near me.

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Guest

I opened my first account with online banking or E- banking and it's been a good alternative.

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Ian

I like you guys on Facebook, and I use online banking.

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Selen

Yes, its easy to monitor... and a great tool for keeping my finances under control.

Guest's picture

Of course, online banking is a must! It is free, and it gives you up to minute info about your money!

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Helen

Yes, I love the convenience of online banking!

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nanjhall

Is there something else other than online banking:) Direct deposit, ATM and online bill paying and you never have to see the inside of a bank again!

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Angela

I pretty much do all of my banking online. I don't even see the need to go into the bank anymore and I have all my transactions in one place to track/organize.

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Ryan

I do and I love it. If only my bank had that nifty Iphone app where I can take a picture of my check to deposit it.

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Jeff

Of course I do, I only keep a local credit union account for convenient check cashing and deposit.

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Raina

Absolutely! I have several bank accounts and log in to all of them at least once a week to keep an eye on everything.

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Crystal Williams

I LOVE online banking! I started years ago because I could set up my bills to be paid while I was on vacation. At that time, the credit union I banked at supplied free online bill pay. I later switched to Quicken Online for $9.95 a month because the credit union was taking out my money and holding it for several days before paying the bill. When I started banking at a new bank, I used their online bill pay until I noticed how many days they,also, would hold my money before paying the bill (even to their own institution!) Now, even though it is a little more trouble, I simply go to each creditor's website and pay directly. I have the time to do my bills this way and I still get the convenience of knowing EXACTLY when it will be paid and come out of my account.

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Verl

I use online banking just about everyday. I check my account balances and balance my checkbook app on my iPhone using online banking too.

Guest's picture

sure do :) I don't have time to run out and pay bills the traditional way - and sometimes don't even make it to the post office!

Guest's picture

like you on facebook

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http://twitter.com/#!/ReneeAChapman/status/126452852771143680

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Nancy B from Many LA

I Like you on FB, and commented there also.

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Nancy B from Many LA

Tweeted!
http://twitter.com/#!/goonyburd/status/126462879795912706

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Ernest S.

Yes (... and a very resounding yes). Online banking is so convenient. It really helps to automate my finances and keeps me from missing payments. Also, it saves me money by avoiding trips to the post office and the postage.

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Ernest S.

"Liked" on Facebook :-)

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Ann E

Yes, I use online banking. It is so convenient and takes very little time to do. Now, I just need to convince my husband to use online banking. He's so "old school", haha.

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Ann E

I also like you on Facebook!

Carlos Portocarrero's picture

It's amazing how the answer to this question is now "Duh!" when not too long ago this was a "new feature."

So yes, of course I do!

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mere

Most definitely! I would have paid many a late fee on bills or would have overdrawn my account if it hadn't been for online banking! Not to mention the (albeit small) percentage of interest I've saved on automating car and loan payments. LOVE online banking!

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Nic

I have online banking through my checking accounts, and even have an online bank account with ING Direct. My dad, though, doesn't trust online banking, or really any financial transaction on the internet.

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Joan

Yes I use online banking. Easy way to check my accounts, transfer money (when I have it) and the online bill pay mails the checks for a couple of my monthly bills so I save postage. I like you on Facebook.

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Kandace

Yes, that's the only way I bank. Love it.

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Kandace

like on facebook

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Tomomes

Yes!

So many reasons to...

- Easy access to all your accounts whenever you want
- Easy budgeting of all your money through consolidation programs like Quicken
- Go green, no more paper statements
- Don't have to waste time going to the bank to do simple stuff
- So easy to monitor for any fraudulent activity

No way we can go back now... :)

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Natalie

I also like your Facebook page. :)

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Patti

Yes, I do use online banking...it's great!

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Patti

I "Liked" on Face Book

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Pam

I love it! It has made my life so much easier because just trying to get to the bank is so inconvenient. Plus I can make timelier deposits into various savings accounts once I get paid.

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Shannon

Yes, I use online banking. It's easier for me to keep track of where my money is going and stops me from paying things late!

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Rohit M

I use online banking for everything, including bill pay, credit card statements, checking accounts. I rarely write checks. The only time I physically go to a bank is to deposit checks or to withdraw cash.

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Jennifer W

I pay bills online and make an automatic payment weekly to my separate emergency fund account. But I don't set up my bills to pay automatically. I go in an enter the amount and the date for it to be paid. That way I keep on top of my balance and also have a head's up if a bill that's usually very regular has shot up.