| Online Banking
Over the past decade or so, a
number of banks were chartered as online banks. Without the high
cost of buildings and tellers and other employees and expenses
necessary in walk in banks, these new technology banks offer
higher interest rates, less fees and many free services.
Most of the U.S. online banks are
FDIC insured and deposits of up to the FDIC limit of $100,000
are relatively safe.
Both SmartMoney magazine
& Forbes like online banks. Most offer free bill payment
& free basic checking, and many more free services. View
images of cancelled checks online, get free checks, free Visa
checkcard, free checks, free wires, ATM access. Online banks
often pays you a bonus for signing up. In addition they usually
pay you if you refer friends and or give your other bonuses and
gifts..
Many conventional banks
like Bank America offer great online services including ebills
where you receive your bills electronically and electronic bill
pay but normally pay far less interest and charge higher fees
than "pure" online banks. Bank America and others let
you use programs like Quicken but many people skip the extra
software. Some conventional banks offer most of the services and
nearly as high an interest rate. You may want to check out American
Express Centurion Bank which blends the features of
conventional and online banks.
Bill
Pay & Bill Management
Both banks & non
banks can provide bill management and "Bill Pay"
services and much much more.
But full featured "Bill
Management Services" often do as much as banks or Bill Pay
programs like Quicken.
Your bills are sent to the
bill management company. You view all of your bills online at
one place, the bill management company.
A single mouse click
pays each bill. The money is electronically transferred from
your bank account. You can also choose to have recurring bills
paid automatically with no action by you. Similar features are
available from full service banks like Bank America
Online conventional banks
such as Citibank offer customers the option to pay bills online.
(Bill Payment Services) So do programs like Quicken and
Financial Institutions like Prudential Securities.
This works well, but the bill
usually still comes to you, even if you choose to get it
electronically.
In a few years the old paper
billing system will seem old fashioned. Get organized. Get a
head start now.
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