Online banking? No thank you, and here's why ...

[5129frederick]

As a nation we are all far too reliant in internet banking.  It is, in fact, quite frightening just how dependent we have become on what's infront of us.  Forget about the chaos a super bug is capable of creating, how technical data can be wiped clean through malicious malware, the quickest single way to wipe out half the computers in this country in one go is by deploying a HEMP - High Altitude Electro Magnetic Pulse.  In layman's language, an ultra high detonation of a nuclear warhead.  A ground burst would cause widespread devestation within a thirty mile radius.  An airburst at 15,000' would cause a far greater loss of life, but an ultra-high airburst at 150,000' would do no or little ground damage, but would, through the release of gamma rays destroy all high frequency satellites and tele communication systems for months.  Our defence system would be able to override it, but everything else - all forms of electricity, televisions, computer techknowlogy would be wiped clean as a whistle - no telephone, no computers, no banking but, ironically no death.  Fallout would not be able to get down to the earth  All phones would be out because all communication sattelites would have been blown away.  Such an act would be way beyond the reach of international terrorists, but if conflict betweeen the East and the West came to a head, it would be a very different kind of war.  That is why don't put all your eggs in one basket.  Why do you think I withdraw every penny from my account as it comes in?  Because if a super bug affected the banking system I at least would have some hard collateral.  That and gold are the only things worth collecting   Such strategies were already being tested during the Cuban cris, so what's up their sleeve now is anybody's guess.  Real prophet of doom, eh? 

[myraandjim]

I would think, depending on where in the country you live, it is more risky to withdraw all your cash from the bank and keep it at home than it would be to leave it in the bank and risk a terrorist attack. With burglaries, muggings etc. rife throughout the country there must be a high risk of "losing" your assets. I sometimes use internet banking, sometime I go into the branch, but with a fairly long journey to get to the bank branch I don't go in too often.

[ed_blackadder_1]

I use online banking. Our wages go in and bills come out. We dont have much savings, so if anybody gets access to our account they are welcome to what we havent got.

Life is far too short to worry about what ifs.

[peteryola]

Am I the only one on here who still uses a physical bank branch in the traditional way, including doing all my withdrawals over the counter?

[*chez*]

You may have money... but would you be able to spend it?.. Most shops close in a power cut because the tills don;t work.... and what would you spend it on?  Food production depends on machinery which in turns depends on power.. and then it needs delivering...

I'd be ok.. I always have a garden full of veg....

[leoleoleo123]

I use physical banking as well as internet banking..

suits me.

[ilove2patch]

Internet everything for me! lol Now if I lost my password book I would be in big trouble! lol

[cookiecookuk]

i do probably 75%online and 25% in the actual bank....

[chickengrandma-2008]

100% on line apart from paying in a few cheques through the door now and again.

[bitsnknots]

I use the bank physically about 10% of the time and the rest is done online.

[**towery**]

so how do you pay  into paypal and  ebay fees of you arent 'online banking'

[5129frederick]

The only time we buy anything is when there is enough money in the payPal account of if the seller is a company who accept a debit card.  For some reason - I've tried on occasions, I never been able to actually pay money into my paypal account.  I've given up trying.  PayPal fees come out on the fifteenth of every month or thereabouts so there is always a panic trying to sell enough to cover the fees.  Once or twice I've slipped up and have had to pay SARL a cheque for the amount, but that's now changed - they'll take the money out even if you don't have it and give you about thirty days in order to get your account into balance before referring it to a debt collection agency who charge interest.  I've got a payPal account in which people can pay money into my account, but if I try to do it myself, I get into a flat spin

[leoleoleo123]

It is very simple..

you just link your debit card, or a credit card to your paypal account..

you can then pay money into your paypal account directly from your paypal page.. it takes a few days to transfer.. you do not have to do online banking to do that.

[peteryola]

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@**towery** wrote:

so how do you pay  into paypal and  ebay fees of you arent 'online banking'

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I pay my fees with a direct debit; anything from PayPal into my current account goes by credit transfer and that's the nearest I get to internet banking.

[******lynda******]

I don't have online banking. My other half won't even have a debit card and his credit card is chip and signature...he won't have chip and pin. Doesn't stop him using my debit card when he needs it...to pay for flights for example, where they charge extra for cc and to pay his cc over the phone when he hasn't time to go to the bank. Which reminds me, he hasn't paid me back for his last 2 transactions.