I hardly ever write checks anymore. I probably write 1-2 checks a month now instead of how many I used to write. I don't really even have to go inside the bank anymore. My finances are all pretty much automated now and paying bills is a matter of "point and click". To say the least, I am a big fan of online banking. I no longer need to mail a check and pay a bill hoping it doesn't get lost in the mail or that it doesn't make it to the right place before the due date. I don't have to worry about whether or not I have stamps available to mail out a bill.
My paycheck is setup for direct deposit. It's nice not having to go to the bank and deposit my check. On payday, I check my bank account in the morning and my paycheck is there and ready for use. I don't have to worry about depositing the check and waiting for it to clear. Income from any other sources is directly deposited in my account. The only thing I still get a check for is rent payments from my tenant. The past few months, she just transferred the funds from her bank account to my bank account. I like it better this way because I don't have to worry about a bounced check.
My primary home mortgage offers an online payment option. I setup the payment online and the bank handles the rest. I usually write a check for the mortgage on my rental property since the bank is local. They offer the option to pay online for a $10 fee. I don't understand why they still charge to pay online when it seems as if it would work out better for them to get an electronic payment. For my credit card and auto loan, all those payments are paid online.
Do you handle the majority of your financial transaction online?
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