The Facade of On-Line Banking...

Discussion in 'Off Topic' started by New Cell, Aug 30, 2007.

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  1. New Cell

    New Cell Unleashed Enigma

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  2. Hook

    Hook Caught Watching Prawn

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    Not sure I understand, NC. The article linked to is not really concerned with security. Did they switch essays?
     
  3. SGosnell

    SGosnell (retired) Palm Pilot

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    I don't understand either. Customer service and security aren't quite the same thing.
     
  4. New Cell

    New Cell Unleashed Enigma

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    My concern is with those not savoy with banking security on-line...:) B/H members know better...!....:)
     
  5. WyreNut

    WyreNut Palm Aficionado

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    I've been banking online for over 15 years now... Used to use Aol v. 2.x to access BofA. I've changed banks a few times since then, but have never run into a problem that I didn't cause! (One bank promised me "Free Online Banking for Life" then started to charge after 12 months. I chewed out the local manager and yanked my funds immediately.) I now bank with a local Credit Union that has lived up to its promises..

    While I was president of the local Apple Users Group (apple //e) we had a demo from BofA. Many members signed up, and then called me to set up their accounts!! "Um you need to enter a password now..." and they'd just tell me what to enter!!!

    A very trusting group, we were back then... :)

    WyreNut
     
  6. JRakes

    JRakes NOT your Average Joe

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    I love online banking with First Tennessee (current bank.) I've used online banking for some years now, and haven't had to fool with a paper statement since then! Using MS Money, I also haven't had to balance or reconcile a statement in years. YAY!!! Oh, and I also us Ultrasoft Money on my Palm to sync with MS Money - I don't even carry a checkbook anymore, relying on my debit / check card and Palm for on-the-fly transactions.

    As for security: 1stTN's site gets your user name, then you answer a random security question. If that is correct, you get to enter your actual password. To verify that you're actually on their legitimate site, they display a "trust word" before you enter your password. The "trust word" is a word that the user sets up with their online account, to be used as an indicator of the login site's authenticity.

    I can say that in all my years of online banking, I've never had any issues. Just lots of convenience and anytime access to my account info. Oh, and I've never paid a cent for online banking. 1stTN actually encourages it in lieu of paper banking, so it is a free service for all customers.
     
  7. SGosnell

    SGosnell (retired) Palm Pilot

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    I've been using online banking for years, also. My primary bank isn't even in the same city, and has no branches. I never see my paycheck, and rarely write a paper check. I've had more problems with paper checks than with online transactions. Someone stole a check out of my mailbox, washed it, and took a lot of my money. The bank eventually had to make it good, but it was a bad experience. I actually have several bank accounts, and I can transfer money around between them quickly and easily, even though they're in different banks. I would really hate to go back to having to do everything by hand on paper again.

    But I still can't see what the referenced link has to do with security.
     
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