New Booking System

I couldn’t manage without online banking now branches have disappeared from our towns. It’s a lifeline and on the rare occasions I receive a cheque, I just pay in in via the Post Office.

You can pay cheques on line these days TW. I tend to use my phone most of the time, banking via a smart phone is supposed to be more secure than over WiFi.

peedee

Paying in cheques is now very easy, at least with Nat West.  When they first introduced it getting it to accept the cheque photos was problematic, but recent updates seem to have solved that and it only takes a couple of minutes.

Yes, even easier than a visit to the PO. 🙂

can anyone please answer the question that was asked ,if internet banking is so safe and easy why do banks spend thousands of pounds tellingyou how to keep your finances safe ,whilst also paying out as many thousands in compension to customer s that have lost money

also many people donot have a smart phone for many different reasons

I recently tried to do a Bank Transfer to a business. Goodness me, the number of hoops I had to jump through and questions I was asked by the system. I was pleased to see it and not put off at all.

I do take that 92% that DK mentioned with a pinch of salt. There are still a fair number of people who do not or will not use the Internet for whatever reasons. My 90yo MiL for one and with her lack of web savvy I'm glad she doesn't.

I think it is probably more than 92 percent among the younger generation. Even 10 year olds have smart phones. So taking the population at large I would say 92 percent ain't far off.

peedee

Do some people still like to pay by postal order? 

Never used in branch banking. Always used telephone banking. But long waits for phone to be answered during covid and a couple of other things have made me open an on line account. It works well for those bank transfers that are increasingly common e.g. weekly chair yoga sessions, or paying the decorator. Much easier on line than by phone. However this is all done from my PC. I don’t use my mobile phone enough to contemplate using it for financial transactions.

I can’t answer your question Skoda, all I can do is relate my own experiences using a Smartphone and IPad to carry out buying and selling online, and downloading my Bank’s App so that I can manage not only my finances, but those of another family member as well.

It’s not hard to set up, but you do have to jump through some very personalised hoops, not least linking my fingerprints to my devices, setting up a personalised code that changes every time I log into my Bank, and also if I choose I can utilise a small personal card reading device (provided free of charge). This device is usually required if I am paying someone new, or if it’s for a very large amount, say for a car. The card reader is rather like the devices used in shops, but requires further checks before you can finally make a payment. If I pay someone new, let’s say a plumber or electrician who has provided me with a BACS account number, before anything is paid, my bank will check out the account to see if there is anything dodgy flagged up. There are prompts to check numbers inputted, names spelled, anything really all along the payment route. When buying online, particularly if from overseas, I have on occasion been contacted by my Bank to make sure it is me, before being able to proceed. 

Some of this sounds like it might be a bit long winded, but in actual fact it isn’t. I can check my account balances in seconds, from almost anywhere, I can move money from account to account almost instantly. It will provide me with a minute by minute detail of account details, including any pending payments (I.e those awaiting in the system) It will send alerts set to any amount should you not want to get near any account being overdrawn. It will bring up each transaction item by item with all details. I can instantly challenge any company with relevant details at my fingertips. 

I think the Banks are spending a lot of money keeping internet banking safe, but it’s like anything else involving human beings, it won’t be infallible. But then it’s a damn sight safer than standing in front of of a cash machine with some thug behind you waiting to grab what you have just got out of that machine. That’s of course if some other no good hasn’t either thrown up, glued or peed onto the bank machine! At home, little actual cash involved, safe and warm. 

You don’t do internet banking on a shared device of course. Or write down memorable numbers👍

I would add that I respect those who don’t want a smart phone, for whatever reason. You certainly have to have a degree of understanding around security when utilising such devices, and not only for online banking. My OH got a red flag around his PayPal account, turned out it was just Bank being super cautious, but we changed details.