Personal Financial Planning: It’s All About Setting Goals
What does financial planning mean to you

On-line Banking: Making the right choice for your needs?
Looking beyond the noise for an on-line bank

College Planning: How to plan for your debt when yiou graduate
Consolidate your debt when you leave college.

Estate Planning & Wills
Making the right choices for your estate

The Key to Investing is Diversification
Tips and Strategies to Effective Investing

Managing Your Credit Report Before and After You Get Divorced
Implications on your credit report with a marriage breakup

Savings, tips & tricks to save your money
What are my options to grow my money: from CD's to stocks & bonds

Key Features for Your Checking and Savings Accounts
Find the best account for your specific needs

Four Key Sources of Income at Retirement
Find the right mix of income sources for your retirement

On-line Banking: Making the right choice for your needs

With the growing popularity of the Internet and its ever-increasing presence in our daily lives, you may be wondering if online banking is right for you. Here we will provide some useful information on what online banking is all about so that you can decide if you’re ready to take the plunge.

First, ask yourself the following questions:

• Does the thought of having your bank “out there” in cyberspace bother you? Are you comfortable with not having an actual branch to visit in person?
• Do you never set foot in your current bank branch and wonder if you ever will again?
• Does your current bank have high fees and low yields?

Based on your answers, online banking might be just the ticket for you. Read on to find out more!

Benefits of online banks
Perhaps most significant of all is that since Internet banks have far lower operating expenses than traditional banks, their costs are unbelievably lower. What does this mean for you? Well, Internet banks pass along these savings to customers, through lower fees on services and higher yields on deposits. In fact, you’re much more likely to even get some services for free online (assuming you keep a minimum balance of $1,000 in most cases). Some online accounts offer a starter kit of free checks, unlimited check writing, and debit cards with no point-of-sale charges. Watch out for services that expire, though - usually after 90 days. Also, most online accounts also require a lower balance to avoid paying fees than a traditional bank: $1,300 versus $2,600.

How do you feel about having no branch?
Some people really are uncomfortable with the idea that there is no actual branch for them to visit. If you haven’t been to your bank in as long as you can remember, though, would you really miss it? Most banks have terribly inconvenient hours, and many now make you pay a few for using human tellers. Online banks, in contrast, generally offer 24-hour customer service, never mind giving you access to your account 24 hours a day. To help provide that ‘comfort level’ of having a physical branch, a few of the online banks have even gone so far as to set up affiliates in cities across the country so that customers have an actual building to go to if necessary.

Worried about security?
Quite frankly, any financial institution that has an online presence could fall victim to hackers. In other words, an online bank is no more or no less safe than your own traditional bank, which most likely has its own online presence in this day and age. To be on the safe side, make sure the online bank you choose is FDIC insured and watch for security measures on their site, such as those provided by VeriSign. When in doubt, don’t be afraid to ask!

As with all money matters, deciding whether online banking is right for you depends on your own unique situation, including your comfort level with technology and types of services required. Remember to always read the fine print and ask any questions before undertaking any major decisions.