Online Banking is great. Do you use it?

It's really a nice bank. I think recently it had just established branches in Philippines. Not sure if it's true. Online banking is really convenient. You remind me that the online transaction is only available during office hour. But viewing the balance is 24/7. Online bank not only save you time, but your fuel or transport fee too. In some way, it's environmental friendly LoL. Thanks for your response, jhoannejoj!

I can see that you are impressed by the advantages of internet banking. You can manage your financial transaction from the comfort of your cozy home . So in fact, although you are unaware of it, this has actually changed your life style, don't you think so? Before that, you need to go all the way to bank, waiting in queue for your turn and getting tired after you are finally back at home and realize the time had been used up. Our local bank haven't implemented any card reader yet over here. But I believe it will strengthen the security of the online transaction and make it even safer. However, some of the foreign banks in our country are using the real time 6 digit token as an extra protection key for login. Not sure if you have seen that before.

I havent seen that ..no... im lookin forward to seeing how my card reader works!!1

Well I suppose it is quite common now everywhere in the world. But the card reader stuff is really new to me. Have you tried it out yet? It could be the most secured online bank we ever have ?

I used it all the time as well and it's become a routine in my life as well. Because I need to pay the utility bill on monthly basis. In fact I had just made the payment for my broadband service and water bill 5 minutes ago. The transaction for water bill payment is free of charge. But I was charged RM2 for transferring the fund to the broadband service account in another bank. Thanks for your response mishastar!

Well I am amazed by the linkage between your cellphone, BPI Bank and Paypal. The interaction is awesome and the flow of fund is smooth and convenient. We have phone banking here, but I seldom use it because we are charged for the phone call . But our cell phone is used as an authorization and verification tool over here. We could established the linkage by submitting our cell phone number through the ATM machine. By doing so, the bank will have the number in their database. Whenever we request a transaction online, the bank will send a authorization pin number (TAC a.k.a Transaction Authorization Code) to our cell phone in text message. We will need to key in this TAC in the encrypted web page, in order to authorize the transaction and proceed to next operation. Not sure you have this over there? Btw, thanks for your informative response, julyteen!

yes we have we need to key-in my mpin(secret mobile pin) to complete the transaction)you're welcome my friend.

my bpi account was link to my paypal so i can withdraw my online earnings to my bpi account. (bank of the philippine island)

I am also the pioneer of using online banking service among my friends and fellow employee. I even showed and helped them get started on using it. The most useful part of online banking is fund transfer (to my mum) and bill payment (water/electricity/cell phone & etc). Online shopping is still very uncommon yet. It's only valid for intangible commodities like software, e-book, music, movie e-ticket and air e-ticket. Groceries online purchase is still a dream in my country. It will materialize, in ten years time, may be. Thanks for your response p_vadla!

By the way, do you mind sharing your experience being cheated by using online banking? This will help other mylotter to be cautious and avoid from being cheated. :)

You are enjoying the convenience of online banking huh? I still need to go to bank because I need to cash in my cheque and replace my broken ATM card . Besides, I had also talked about the housing loan with the personnel in the bank as well. Thanks for sharing your opinion in my discussion, Jody20!

Me too. It's really convenient to manage our bank account from our PC. Well, I use Paypal as well. I had applied for pay-pal debit card, but it didn't got approved. Thanks for your response, mari61960!

I love it too, it's really a great convenience, by eliminating the needs of going to the bank in person, and thus avoiding the need of waiting in long queue and trapped in traffic jam. It save time and effort in all. Thanks for your response kelly3ps!

That's the point! By using online banking, we could avoid lining up in the crowded bank and save our time. Online payment and inter-bank fund transfer is fast, easy and convenient. It's become so common today. I suppose it will help your internet business a great deal! I have not seen the USB key. How is it look like? Is it something similar to virtual keyboard which could help us keying our sensitive information safely. Thanks for your response!

Well hope you will be having the opportunity to enjoy this wonderful facility one day later. It's really convenient. Imagine how cool it's for us to manage our banking business through the internet and thus we no longer need to travel to the bank. Forget about the traffic, parking, gasoline and long queue :) Actually my country is blacklisted in many useful service as well, but still we have to live with it. Thanks for your response!

I consider online bank a great wonder in the modern society. It makes online business more viable than before it exists. Everything become simple, fast and convenient. Only that we need to be careful of virus and hackers. We need to know how to play our part well in safeguarding our online bank accounts. Thanks for your response!

If possible, we should use the virtual keyboard (where you use mouse instead of keyboard) to key in the password. I just learned this from another mylotter days ago!

cheongyc, you are right. We should only do online banking in secure networks, never do it in public computers. For double safety, we should check out online security watch to learn tips to stay alert and protect our security online.

I am using Paypal as well. It's a reliable and widely used online currency. Other than Paypal, I have opened account in stormpay and alertpay as well, but I rarely use them. I used Paypal to receive fund from Mylot earning. It's linked to the bank account I have and the fund transfer is fast and easy. Thanks for your response, HyugaN!

Internet and online bank are really amazing technology advance right? It had really changed our life style and saved us a lot of problem. The best part is, it helps us to be more environmental friendly because we could save the fuel that we need for the transport all the way to the bank. Besides, it's good for the bank because online transaction can reduce their employee work load significantly. They just need to bear the IT cost which is comparatively low compared to employment expense. Thanks for sharing your opinion, wittyakanksha!

You are right, paper saving and more environmental friendly is another advantage of online banking. The best that it offers is time saving, because time is as precious as gold. It's great that you have a one-stop solution for your bill payment, credit card statement and bank statement. Thanks for your response!

Do your bank charge you for saving money in it? The bank here are giving us interest base on market rate. The only thing we worry about is the interest rate is too low, even lower than the inflation rate. Then indirectly our fund is decreasing over the time. I agreed that we ourselves are the weakest link in the online bank security system. Therefore, we should always be cautious, so that our accounts are not hacked. Although the security system is improving, but some of friends are still doubtful about the fund safety though internet transaction Thanks for your response jazgottt!

I got what you mean now. I think I misunderstood what you mentioned. Our traditional bank is offering the online service. So, the interest is the same because they are the same too. Unfortunately, the inflation rate over here is 3 to 4 times higher than the interest rate. I am glad that and envious that the bank interest rate is higher than the inflation rate. The high inflation rate in our country is due to the incapability of our government. This had caused our people suffered.

My bank doesn't charge me for saving money in it. It is completely free. And the rate is nice, traditional banks have similar or lower rates. The rate is higher than inflation rate. So my money are safe and I earn a little from them. cheerio, jazgottt.

Well I see. I think you shouldn't worry too much on the security aspect. At first, I was worried of identity theft as well. But after I had familiarized with the online banking, I found that the security is at satisfying level. It has double authentication process in order to complete the online transaction. When I initiated an online transaction, the bank will send a 6-digit TAC (transaction authorization code) to my cell phone in text message form. I need to key in this number in order to proceed further and complete the whole transaction process. Therefore, a person who had my account ID and password will not be able to withdraw money to his account without knowing the TAC code which is sent to my cell phone. Thanks for your response williamjisir!

So, now you seldom visit the bank right? Me the same. The online banking service is convenient that we could hardly have the 'chance' to visit the bank ourselves. I only went there to replace my broken ATM card Too bad they charged RM14 for the replacement. I was annoyed and was reluctant to pay for it. But I have no choice because I need the ATM card to withdraw money every week. I can only blame myself for breaking it Thanks for your response!

Great! You are enjoying what the modern technology has offered. It save you all the trouble of going to the bank yourself. Besides, you could save on gasoline and time I found that it's so convenient that I could not live without it LoL. Thanks for your response!