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Author: mawhinney Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Online vs US mail Date: 12/30/2007 4:38 PM
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Is it safer to receive bank statements online vs receiving statements in the mail? I will soon have the choice of receiving my bank statements online. The bank claims online is safer and that stolen mail is the leading source info theft.
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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12211 of 19224
Subject: Re: Online vs US mail Date: 12/30/2007 6:23 PM
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Is it safer to receive bank statements online vs receiving statements in the mail? I will soon have the choice of receiving my bank statements online. The bank claims online is safer and that stolen mail is the leading source info theft.

Not to mention a leading source of postage charges to the bank. I'm sure my convenience is the reason they no longer send me my cancelled checks.

I have to admit that I cast a jaundiced eye on anything that any bank does. That said, you probably get a tiny bit of additional identity theft protection by not receiving mail from the bank, but if you stop and think about it rationally, you're probably much more at risk of hassles due to stolen mail from the five or so preapproved credit card applications you get each week, at least one of which is probably from the bank that's looking out for your safety.

Phil

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Author: FuwlEd Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12214 of 19224
Subject: Re: Online vs US mail Date: 12/31/2007 10:06 AM
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Is it safer to receive bank statements online vs receiving statements in the mail? I will soon have the choice of receiving my bank statements online. The bank claims online is safer and that stolen mail is the leading source info theft.

I find online statements much easier when coupled with online account reconciliation. The less snail mail the better for me. Less paper to maintain, less trash to toss, less work on my shredder.

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Author: mendomann Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12224 of 19224
Subject: Re: Online vs US mail Date: 12/31/2007 5:25 PM
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Not to mention a leading source of postage charges to the bank. I'm sure my convenience is the reason they no longer send me my cancelled checks.

I have to admit that I cast a jaundiced eye on anything that any bank does. That said, you probably get a tiny bit of additional identity theft protection by not receiving mail from the bank, but if you stop and think about it rationally, you're probably much more at risk of hassles due to stolen mail from the five or so preapproved credit card applications you get each week, at least one of which is probably from the bank that's looking out for your safety.


By your response and all the recomendations it got, I can see how cynical we all have gotten. It's very sad to see what has happened to this great country and the polarized condition it finds itself in today.

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12225 of 19224
Subject: Re: Online vs US mail Date: 12/31/2007 5:42 PM
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By your response and all the recomendations it got, I can see how cynical we all have gotten. It's very sad to see what has happened to this great country and the polarized condition it finds itself in today.

What you call cynicism I call having the sense not to jump in front of a speeding dump truck. Tomato/tomahto, I guess.

I yield to no one in my nostalgia for the good old days, but what polarization are you talking about? Us vs. the banks? This is new?

We're rapidly closing on 35 years since I told a First National Bank of Chicago teller no when she told me I had to provide my fingerprint on my check written on my account at that bank and signed in front of her before she'd cash it.

Some things never change, and the arrogance of banks as a race is among them.

Phil

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Author: sumap10 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12227 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 11:31 AM
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I believe cynicism is the correct word: "a questioning of the sincerity and goodness of people/institutions in general". Chase keeps sending me checks that I can cash. In teeny print, cashing the check also signs me up for something or 'nother. That may not legally be fraud, but in my view of the world, it's fraud.
This doesn't have anything to do with the "banking online" issue, but I don't think for a minute the bank is thinking of your welfare.
Sumap

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12228 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 11:37 AM
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I believe cynicism is the correct word: "a questioning of the sincerity and goodness of people/institutions in general".

I don't question the sincerity and goodness of institutions in general. Just banks.

Phil

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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12229 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 12:13 PM
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I believe cynicism is the correct word: "a questioning of the sincerity and goodness of people/institutions in general".

I don't question the sincerity and goodness of institutions in general. Just banks.


..... and Insurance companies ..


......

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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12230 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 12:57 PM
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..... and Insurance companies ..

-------------------

ESPECIALLY insurance companies.

AM

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Author: TurkeyBreath Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12231 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 2:01 PM
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... believe cynicism is the correct word: "a questioning of the sincerity and goodness of people/institutions in general".

I don't question the sincerity and goodness of institutions in general. Just banks.


..... and Insurance companies ..


Henry Ford, Sr. hated banks. Unfortunately he also hated Jews because in his view Jew = bankers.

TB

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Author: mendomann Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12232 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 4:36 PM
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I yield to no one in my nostalgia for the good old days, but what polarization are you talking about? Us vs. the banks? This is new?

When I used the word polarized, I was talking about the country from a political point of view. I think I said country in my first message. I guess I should have made that clearer.

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Author: Follydolly Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12233 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 5:18 PM
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Banks, Investment companies, CC companies all would like us to go "paperless". That means you get to print out your statements yourself. In my case, I would be using very expensive "photo" inks.

I have opted not to go paperless, even though I pay my CC charges/bills online and look at my bank and investment statements online. I just want to have the paper in hand and I don't want to print it. I did go paperless with my investment statements. They will send me the year end statement in paper. I am pleased with that.

For safety, I took out a P O Box this year when I got a new mail man who was delivering my mail all over town. And guess what? I received mail in my P O Box belonging to other people!!!
You can't win.

Biggest problem with paper statements is you now have to shred everything. I find that time consuming and annoying. I especially hate those "checks" I never asked for. But all CC statements eventually have to be shredded, along with old bank statements.

I do wonder, if GodForBid you are audited, and you are paperless, how do you get your past statements?? Of course, going paperless, you may save a tree.

It is all part of technology to make life easier for us LOL. I cannot complain, I love technology.

Happy New Year

~Birgit

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Author: ibnana Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12234 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 10:20 PM
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I get the bills in the mail, but pay them online. I don't dare go paperless as far as billing is concerned. If anything should happen to me, DH would not have a clue about what to pay when unless it came in the mail.

Carol

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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12235 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 10:36 PM
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I get the bills in the mail, but pay them online. I don't dare go paperless as far as billing is concerned. If anything should happen to me, DH would not have a clue about what to pay when unless it came in the mail.

Carol

------------------


Same here.
Except... change DH to ME. I wouldn't have a clue till the paper bill comes in the mail. As soon as it arrives, I pay it online and file the paper - marked PAID IN FULL.

It's just SOOOOOOO convenient.

AM

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Author: ibnana Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12236 of 19224
Subject: Re: Online vs US mail Date: 1/1/2008 10:59 PM
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Same here.
Except... change DH to ME


The big difference between you is that DH barely knows how to turn on the computer, much less access the bank's online bill pay. I think he does know where the check book is, but I'm not sure he knows where the stamps are.

Carol

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Author: khintul Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12238 of 19224
Subject: Re: Online vs US mail Date: 1/2/2008 1:17 PM
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I just want to have the paper in hand and I don't want to print it.

I was the same way, but at the beginning of '07 I decided I was going to make a really good effort to go paperless.

I long ago opted out of having statements mailed to me with every account that gave that option, but still printed them off every month to have.

I created a file called 07 statements, and every month when I was notified the statement was ready I downloaded it to this file and then immediately paid the bill online. I made sure to have backups of the file (though the statements are still available online for several years worth). This has worked out beautifully, and as far as I'm concerned it's the only way to go. I periodically burn all the statements to CD.

The advantages to opting out of having statements mailed to you are many - you are notified by email as soon as the statement is ready, then when you make your payment online you receive another email thanking you for the payment (talking about CC statements here). Use an online mail account for these so there's no danger of losing the message if you change computers or ISPs, and you have as much backup of your information as you could want, and don't have to worry about your information getting in the wrong hands as could happen with paper statements mailed to you.

Karon

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