In the old days your parents only had one way to deal with their financial institution and that was in person. They waited sometimes in long lines either standing up or in their car. If they wanted to know how much was in their account they had to ask someone to look it up for them and normally write it down on a slip of paper. They didn't have another other options. Today you have several options and the newest is On-Line Banking Online banking isn't out to reshape your financial habits. Instead, it uses today's technology to give you another option to manage your finances from almost anywhere in the world 24 hours a day 7 days a week at YOUR convenience.

There are many advantages to using on-line banking:

Convenience: on-line banking never closes for a holiday you have never heard of. If it is late night on a Saturday and you want to see what is in your account(s) it is just a simple mouse click away 24 hours a day 7 days a week.

Location: if your out of town, out of state or even out of the country your on-line banking is right with you. If you have access to a PC and Internet connection your bank is right there when you need it instantly.

Privacy: no one needs to know your business except you. With on-line banking you can transact business in the privacy of your home or office.

Efficiency: in today's hurry up world who has time to stand in a long line or who can afford the fuel for your vehicle sit at a driveup window? With on-line banking there is no lines to wait in. Ubiquity: If you're out of state or even out of the country when a money problem arises, you can log on instantly to your online bank and take care of business, 24/7. Transaction speed: Online bank sites generally execute and confirm transactions at or quicker than ATM processing speeds. You can access and manage all of your bank accounts, including IRAs, CDs, even securities, from one secure site. Effectiveness: Many online banking sites now offer sophisticated tools, including account aggregation, stock quotes, rate alerts and portfolio managing programs to help you manage all of your assets more effectively. Most are also compatible with money managing programs such as Quicken and Microsoft Money. Disadvantages of online banking Start-up may take time: In order to register for your bank's online program, you will probably have to provide ID and sign a form at a bank branch. If you and your spouse wish to view and manage your assets together online, one of you may have to sign a durable power of attorney before the bank will display all of your holdings together. Learning curve: Banking sites can be difficult to navigate at first. Plan to invest some time and/or read the tutorials in order to become comfortable in your virtual lobby. Bank site changes: Even the largest banks periodically upgrade their online programs, adding new features in unfamiliar places. In some cases, you may have to re-enter account information. The trust thing: For many people, the biggest hurdle to online banking is learning to trust it. Did my transaction go through? Did I push the transfer button once or twice? Best bet: always print the transaction receipt and keep it with your bank records until it shows up on your personal site and/or your bank statement.