Internet Accounts

legless

Are Internet Accounts safe? How do you get one? And what proof do you have of your Money? When you open an account at a branch you get a passbook

jack_spratt_2

Its as safe as you want to make it!!
If you have a decent firewall ,antivirus ,spyware scanner etc it gives some protection !!
A lot of the time its just common sense ,do not reply to emails or open suspicious ones,
never put your full password in or disclose it to anyone,always make sure the site is encrypted when you log on.
Online accounts are usually linked to another of your accounts so transfers in and out go into this account.
You can always print off an online statement.
I am sure other people will add to my comments !!I am afraid this is the way banking in future will go

lolarentt

You can apply, usually online, for accounts with most banks - certainly all the big ones. Most are not specifically internet only accounts (although some of the savings ones are) but just a more efficient way of running an ordinary bank current account. I can't remember the last time I went into a bank branch - there's no need for all that waiting in line as you can do everything from your PC - pay your bills, send money to friends, move money from one bank to another, and of course from one account to another. Your accounts with any one bank will all be visible and and transactions show up immediately.

You get paper statements in the usual way (although most will try and persuade you, unsuccesfully in mycase, to sign up for paperfree)

As you gather I'm a bit of a fan! We have online accounts with a dozen or more banks and BSs.

let me know if you have any nore questions on the subject, I'd be pleased to help

legless

One worry I have and it might sound daft is both my wife and I are retired and if I opened an internet account and when I died. My wife knows nothing about computers and is not interested in them so what would she do to get her money? We also have no family to help

lolarentt

legless wrote: »

One worry I have and it might sound daft is both my wife and I are retired and if I opened an internet account and when I died. My wife knows nothing about computers and is not interested in them so what would she do to get her money? We also have no family to help

That wouldn't be a problem from the financial point of view as you get paperwork, contact numbers and the rest of the usual banking bumf which she would have to sort things out. You can still go and talk to banking branches about problems, even if it's not for a branch based account. I had problems with an online Nationwide account recently and got it sorted out by the IT expert at a local Nationwide branch, although it was nothing to do with them, and I'd never been in the place before!

yingavital

There are also online and phone support where you can inquire if you have any questions regarding your account. It would be better if you get a debit card to be used on your online account as it is safer to use than credit cards. you can debit the amount desired and there's no worry of overspending.

savetilibleed

legless wrote: »

One worry I have and it might sound daft is both my wife and I are retired and if I opened an internet account and when I died. My wife knows nothing about computers and is not interested in them so what would she do to get her money? We also have no family to help

My wife is worried about that too. I have told her all the account information is in my folder along with bank statements and stuff. I ought to list the accounts for her really I suppose so she knows what to look for.

legless

Thats Women;)

Primrose

Egg have an internet account but also have a facility for paying in cheques and telephone banking too so might be worth your investigating. As a woman, I have some rather harsh advice for your wife. I have seen too many older women put their heads in the sand and leave financial affairs to their husbands saying "Oh, finances and computers are a Man thing". And I have seen a number of them pay a very hard penalty when their husbands have died and they've been left helpless. Come on women! This isn't the Victorian era. Get yourselves down to some Adult Education Classes and wise yourselves up. Computers and the internet arn't that difficult once you get over the psychological hurdle ande they can certainly make it easier to fun your financial affairs, especially in these days when interest rates are dropping like a stone and you need to research better accounts and move your money around.

G_M

I was given 3 years to live 4 years ago, so made sure my affairs were all written down and easy for my executers to find/understand/manage. I keep it up to date just in case (tho as you can see, I'm still here!)
Next to my will is a list showing all the bank accounts I have, a/c numbers, bank telephone number and aprox balance.
Even though many of these are internet accounts, my executers will be able to phone up, quote the account number, and the bank will then tell them what the process is to release the funds once probate is complete.
Your wife will not need to use the internet!

menhim_2

legless wrote: »

One worry I have and it might sound daft is both my wife and I are retired and if I opened an internet account and when I died. My wife knows nothing about computers and is not interested in them so what would she do to get her money? We also have no family to help

Follow previous recommendations for internet security and internet banking should be completely safe, if not safer than someone getting their hands on your passbook or checkbook. With internet banking you can access your accounts any time of day or night to check your balance and print off or still have posted to you a statement on most accounts.

As for your wife not knowing anything about computers, that could cause a bit of a problem, even if you are just taken ill, but most internet accounts also have telephone banking which is quite straight forward and should be easy enough to explain to her, or write clear intructions how to use it. You would also have a cash card with most accounts as well, making drawing money much quicker than having to queue up at a counter.

Should the worse happen and you die, all your wife would have to do is visit a local branch with all the information and they will sort it out for her.

My concern is if anything happened to both myself and my OH at the same time. I have a file with all my account information filed, together with a copy of my Will. As I have quite a lot of accounts, I have a front page, well three front pages with all accounts and numbers listed and name address and telephone numbers of all organisations I have money (and debts) with.

Sorting out my probate will be complicated enough so I do try and make it easier for the unfortunate soul who will one day have to do it !!!!