believer
Posts: 8,153
Mar 17, 2014 5:29am
I'm one of those peeps who rarely carries cash.
I write a personal checks maybe 2 or 3 times a year. A majority of my banking transactions are done on-line and when I need to use "cash" I almost always use a debit or sometimes a credit card.
I find this to be extremely convenient, fast, and easy.
But with the ever increasing threat of cyber attacks, credit card fraud, etc. I'm wondering if being so reliant upon electronic financial transactions is such a good thing.
What say you OC? Electronic banking? Cash-only? Combination? For the OC financial guru's out there is on-line banking safe? Are there any alternatives besides going back to writing out dozens of checks and keeping postal employees employed?
I write a personal checks maybe 2 or 3 times a year. A majority of my banking transactions are done on-line and when I need to use "cash" I almost always use a debit or sometimes a credit card.
I find this to be extremely convenient, fast, and easy.
But with the ever increasing threat of cyber attacks, credit card fraud, etc. I'm wondering if being so reliant upon electronic financial transactions is such a good thing.
What say you OC? Electronic banking? Cash-only? Combination? For the OC financial guru's out there is on-line banking safe? Are there any alternatives besides going back to writing out dozens of checks and keeping postal employees employed?
pmoney25
Posts: 1,787
Mar 17, 2014 7:29am
Most every bank/financial institution has zero fraud liability for their customer.
Could elite hackers get into your account? Probably.
About 8 years ago I lost about 6 grand by someone who got my debit card information and made purchases and withdrew money from atm for a few days. I was able to get my money back within 24 hours.
I still use debit/credit cards and online banking 99% of the time.
Could elite hackers get into your account? Probably.
About 8 years ago I lost about 6 grand by someone who got my debit card information and made purchases and withdrew money from atm for a few days. I was able to get my money back within 24 hours.
I still use debit/credit cards and online banking 99% of the time.
Belly35
Posts: 9,716
Mar 17, 2014 7:53am
I use multiple accounts between my wife, business and myself, multiple banks and some online banking, other accounts no link to computer or ATM machines, plus a ammo box of cash, some gold, extra ammo in my house.
I have no credit cards .... only a debit card if the money not in the account I can't take out the amount.
I have no credit cards .... only a debit card if the money not in the account I can't take out the amount.
wildcats20
Posts: 27,794
Mar 17, 2014 10:01am
I write 1 check a month. Everything else is electronic or my card. Mostly PayPal.
R
raiderbuck
Posts: 1,623
Mar 17, 2014 10:36am
I use a combination. I like the convenience of using a brick and mortar bank. They're everywhere, and I can talk to someone face to face if there's a problem. I still do most of my bill paying online (via paypal, or auto debits, or bank bill payment, etc), and I have an online bank that just holds spare cash for savings.
M
MontyBrunswick
Mar 17, 2014 10:48am
I haven't been inside a bank in years.
M
Manhattan Buckeye
Posts: 7,566
Mar 17, 2014 11:36am
Everything online - there is a security risk involved but it is the same as going into a "brick and mortar" bank....they'll just put your information in the same database. Just keep track of it and notice if anything looks incorrect. Most people leave safety deposit boxes for invaluable stuff - like war medals, cremated ashes, wills, etc.