How Many Use Online Banking?

[espmartin]

I know that many of my friends who are not internet savy do not use online
banking. They fear that a hacker will login and take all their money.

Now we know that secure online transactions are the norm now, and security
has been greatly enhanced via better encription and such - and the use of
SSL on financial sites, but again, many people simply don't trust technology
to secure their data.

So, what's your opinion on that? I for one use online banking

[SkinnerW]

I do 99% of my financial transactions online. The only time I ever go to the bank is when I receive some checks and need to deposit them.

But again you can not compare banking system in US and few more countries with the majority of the world...

[Ping]

I use online banking, mostly for checking balance only.

Sometimes, I use them to pay utility bills.

Other than that, I usually pay in checks most of the time.

[espmartin]

Originally Posted by SkinnerW

...But again you can not compare banking system in US and few more countries with the majority of the world...

Can you explain this statement? Is the banking system in my country not as
good as yours?

[temi]

I use online banking but its getting more and more complicated. My bank sent me a PDA machine a week or so ago, I have to use it as part of my authentication, its getting out of hand

[SkinnerW]

You live in the same country as I am - US. Most of financial transactions here done by plastic cards and electronic transfers. In my home country - Russia people are using cash 99% of the time so it is kind of hard to do it online. And that applies to many other countries also.

[Bisje]

I use it for years already and here in Belgium it's more a generation issue, not so much a trust issue.
Older people will never use it, but I think 90% of the "younger" generation almost never see a bank from the inside This year I even didn't see my bank.... If you have internet and a electronic passport...there is really no need anymore to go outside...

Only problem I see is that the banks first billed you extra when you didn't use the online facilities, which were free in the beginning. That way, more and more people started to use the internet and the banks started to fire lots of their employees...
Now that the balance is going to mostly "electronic" banking, and there is no one left to fire, they started to charge for all those "electronic" banking methods... and I really hate it to have to pay to get my own money...
After all and like always... banks always wins.

[espmartin]

Maybe we should all start an online bank - "The UKWebmasterWorld Financial Centre"

(BTW, the word "Center" is spelled "incorrectly" for OWG )

[SkinnerW]

Temi actually had an idea to be a "middle man" for the transactions conducted here on UKWW to make sure they go smooth...
I am not sure what is the status of it...

[Bisje]

Will he act like for the bets on the Temi-Bagi challenge...?
I'm sure it will be great for UKWW