For us young folks, online banking is totally normal. We don't necessarily think about the security risks associated with moving money online because we do it so often.
Our parents, however, are a different story.
One such parent, Diane McDonald, wanted to find out the risks associated with her daughter's online banking.
My 23-year-old daughter opened an account with a "virtual bank" because it saves her money. Is online banking as safe as she says it is? We like getting our checks returned with our monthly stat ment, but maybe we're just not up with the times.
As long as you're using common sense (like not falling for scams) when banking, keeping your money in an FDIC-insured account and keeping track of where your money is going, there's absolutely nothing to worry about.
If it makes you feel any better, try it yourself — open an ING Direct online savings account and see what it is all about.
I love how Diane says she likes to get her checks returned to her — I guess she still writes a lot of them. Consider going paperless Diane, it'll save you money and help save the environment.
With the higher rate of interest in my online savings account, I turned my parents on to venturebankdirect.com. We are both earning 3.8% APY with no minimums balance. FDIC insured and pretty easy for my technically deficient mother to set her account up online.
Thanks for the tip Chris, I checked out Venture Bank Direct and have been happy so far. They added an online checking account which is a big plus for me. Makes for easy access.