Online Banking for the Faint Hearted

Its easy to be put off by the idea of online banking. Worries over whether its really secure or not, remembering all those complicated passwords, and wondering how to manage a complicated interface are all concerns that people have; people who havent taken the plunge that is.

Oddly, for an Internet professional I was in this camp myself until recently when I remembered that I hadnt paid a bill late at night and couldnt get to the bank in time to pay it before incurring any charges.

I hate paying for things I dont have to so that simple act of forgetfulness made me start looking a bit more seriously about whether or not online banking was actually going to work for me.

So I went over to the online banking section of my banks web site and took a look. Filling in the application form was relatively straight forward and only asked me for the kind of information you can get without having to rummage around through boxes of old paperwork, which was a pleasant surprise.

A couple of days later a letter arrived telling me I had to activate the account and enter a special code to get things going (Id already saved another special number from the application stage). Back to the computer then to activate the account.

After a couple of minutes following the instructions Im suddenly plunged headlong into the world of online banking. I can see my statement whenever I like, I can pay bills night or day and just generally manage my account when I want to, not just when the banks open.

This is an exciting new world and Im loathe to log out for fear that Ill never be able to get back in again, but eventually I do and get on with the busy of earning money rather than just watching where its all going.

The next evening I decide to give it another go and am surprised by how simple it is to get back in (having memorised a couple of important passwords of course), and I can see that the bills I paid last night are all cleared and on my statement.

Now of course Im a convert and regularly turn up at my bank in my slippers at 11pm to be greeted with a warm welcome and a range of online services that I wouldnt have dreamed possible before Id actually tried it.

And the best thing of course, no more interest charges when Im a little more forgetful with bills than I really should be. So, if youre still worried about whether online banking is worth the hassle, you should give it a try. Its not nearly as complicated as you think its going to be and its far easier than trudging down the high street with a load of bills!

Paula Marriss is a financial advisor and editorial contributor at The Money Zone. For more information on personal finance visit http://www.money-zone.net/

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