Online Banking

[Rondo]

I'm looking into online banking again because of a new lower price(BB&T) For more than 8 years I've used Quicken and Quick Books and did try online banking once a few years ago but I didn't care for it(maybe the price back then). So how many is for and against online banking and why? I know the advantages, just want to hear your personal +s and -s with it.

[Kitty]

Rondo,

I was used to the online banking BBT offers and it would be a great service if debits could be ACH withdrawed, thus making the pay by online feature much more attractive. However, the pay online feature debits your account the DAY you want a payment to be made, thus the banking industry gains interest on using YOUR money. Why would you want to deduct funds PRIOR to the actual transaction CLEARED your account.

THe only good feature about this was being able to view the deposits, withdraws and debits as well as vviewing the account balance from time to time. I currently have online banking for my personal use, but do not have quicken nor money tied to it.

[David]

I'm not familier with the BB&T, but I use Quicken's Billpay for both personal and business. It drafts my checking account on the payment date.

You can have up to ten accounts on one billpay service.

Cost is $9.95 for the first 20 transactions.

[Anonymous]

I use Chase for my personal on-line banking and it is great. They deduct money from my account on the day I say the check should be paid - not when I issue the order. Since I maintain a large balance there is absolutely no cost.

[pete f]

I use Bank of America, it is free. I have used online banking for many years. I can't imagine writing checks and buying stamps. And yes, I pay almost all my laundromat bill on line also. Insurance payments, and things like the once a year bills I send a check. Some banks allow or are intergrated with Quicken, M/S Money, etc so you can do your bookwork and hit send to pay the bills. My bank takes the cash out the day I want to send.. Most of my accounts have electronic payment so the bank ha a 2 day period. If I want to pay a bill on 8/28 I mark t send 8/26 I do not care the bank gets the" float" becuase interest rates they pay are so little now, and with precision payment dates you can control your own float better than sending a check.

[Rondo]

OK, which way is best for making the payments. Do you do it all on line and then download into QBooks or is it best to do it strictly through QBooks?