Subject: On-line Banking Dislikes Date: 8/1/99 8:47 PM Author: rkmacdonald Number: of 675

Aspects of online banking that I do not like:

I do not like the fact that my account is charged for the amount of the check immediately, and that I do not get any positive feedback that the check has actually been cashed. I do not think the online bank should deduct the funds until the check is cashed. I also think records of the cashed checks should be forwarded to the owner of the online account.

Several times over the past few months, the bank took longer than the stated five working days to get the check to the recipient, and my bill was paid late. This caused several late fees.

Then I sent a payment to a friend to help pay for my share of costs at a party. He decided not to let me pay it and sent the check back to me. Now, my account has been charged but the check wasn't cashed. Too messy for me.

I have now decided to give up on online banking, and go back to checks. Anyone else come to this decision?

Are there any online banks that do not charge your account until the check clears?

Thanks, Russ

Subject: Re: On-line Banking Dislikes Date: 8/1/99 11:06 PM Author: jschott Number: of 675

I use Quicken bill pay via Citibank, but if memory serves me, Intuit purchased Quickens bill pay operations.

My experience with Intuit was that they issued paper checks with all of your personal bank account information on it.. as if you mailed one of your own checks. So besides having the money stay in your account until the check is actually cashed, you also get the check back in your monthly statement. Some payees are able to be paid electronically and in those cases, Intuit arranges to have the money transferred from your account directly to the payee's account.

I copied this right out of Quicken

http://www.intuit.com/banking/iop.h tml

The Intuit Online Payment service works with any U.S. financial institution account with check writing privileges. You can send payments from up to 10 of your accounts, even if they are with different financial institutions.

-J