[Clips] Banks Seek Better Online-Security Tools

[Greg Black]

On 2005-12-02, dan at geer.org wrote:

> You know, I'd wonder how many people on this
> list use or have used online banking.  
> 
> To start the ball rolling, I have not and won't.

I've been using it for me and my wife with 3 banks since they
first offered it; I use it every week to pay all our bills and
would not be without it.  The benefits I have gained from not
having to waste time doing things the old way have proved to be
substantial and I get to notice and resolve the occasional error
(always in the form of fraudulent debits to credit cards) much
faster than in the old days when I had to wait for the monthly
statements.

It's probably not related to my use of online banking, but it
has also been noticeable that fraudulent debits to our credit
cards have dropped from about 5 per card per year five years ago
to one such debit to the 6 cards we use in the past two years.

I detest banks and have had many battles with them over various
issues over the years, but I remain confident that my careful
practices, meticulous record keeping and careful management of
passwords will continue to give me the edge in any dispute with
them.  And the cost to me of any such disputes seems unlikely to
be anything like the benefits I have gained from online banking.

Greg

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