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Money Questions: Online banking not for everyone

By Helen Huntley, Times Personal Finance Editor
In print: Sunday, May 25, 2008

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We asked

Do you use online

banking? What's been

your experience?

Online banking is great. I balance my checking account weekly instead of monthly and have not received a paper statement in over four years. We have all of our utilities, insurance premiums and other monthly payments automatically deducted from our checking, and all of our income is direct deposit. I can always print a canceled check if one is in question rather than pay extra to have checks returned.

Carol VanDenBerg, Brooksville

I much prefer face-to-face personal contact — guess it's called 'service'!

Jack Keefe, St. Petersburg

It's the best thing I've done in a long time. I combine it with Quicken. My checkbooks and debit cards are always in balance with no work or time spent.

David Kelly, Sun City

I have actually switched banks in order to do business with an institution that offered more comprehensive online services.

Chas. Lehnert, Riverview

I have been using online banking for six years now, and my experience has been wonderful. It is convenient, fast and saves both postage and gas (many fewer trips to the bank).

Jim Bedard, Palm Harbor

No! I'm from the old school. I don't trust online banking or the snoops that might get at my transactions.

Bob Bucklin, Zephyrhills

I use online banking all the time. I have been pleased with the results and the way I can see my checkbook balance at all times.

Rose Marie Plante, Clearwater

Online banking has freed us to travel more widely. We have our bank, money market and brokerage accounts linked so that we can manage our cash wherever we are. Paying bills from overseas is a joy instead of a chore.

Tom Wood, Ocala

You asked

We have just received by direct deposit an income stimulus rebate of $600. We filed a joint return with valid Social Security numbers showing that we both had tax liabilities. I thought that we should have received $1,200, according to our filing status.

In order to receive more than $600, you needed to have a 2007 tax liability of more than $600. The stimulus payment for a couple qualifying for a rebate (but without qualifying children) is your tax liability with a minimum of $600 and a maximum of $1,200. For a single person (no children), it's your tax liability with a minimum of $300 and a maximum of $600.

Some rebates also are less than expected because of back tax debts or other obligations. Anything that would cause the IRS to confiscate your refund also would apply to the rebate check.