Online banking

I am not sure when the last time I was in a bank dealing with a teller.  It has been a long time.  Never mind the fact that I deal with PC Financial which doesn’t have branches.  They do have kiosks in Superstores and what not, but you can’t do your day to day banking there.

I rarely use a bank machine even.  We are moving closer and closer to being a cashless society.  I rarely carry cash.  There are very few places that you can’t use your debit card to make a purchase.  I can make as many debit transactions as I want and don’t pay any service fees.

I recently placed an order for t-shirts and hoodies for my baseball team, for those who wanted to order them.  I paid for the order and parents are paying me.  A few have chosen to pay me via email money transfer.  The banks must love this.  Each transaction, regardless of how much the transaction is, costs $1.50.  I pay my rent this way.  The money is immediately taken from my account and as soon as the landlady opens her email and logs into online banking, it is deposited.  It does cost me $1.50 each month, not much really, although it is $13 per year that I pay for that convenience.  I am sure that this fee will have to go down in time as more and more people start using it.  For larger transactions, the $1.50 fee isn’t bad, I am not sure I would want to use email money transfer for a $10 purchase.

I also received a cheque from one of the parents.  The banking app on my phone allows me to take a picture of the cheque and deposit it without ever having to go to a bank machine.  That is relatively new.  I am supposed to hang onto the cheque for a week and then destroy it within 4 months.  Very cool.  I was sort of surprised to get a cheque in the first place, I didn’t know people still used cheques.

Hopefully, with all this electronic money floating about our money is safe.  I’ve yet to have any issues, maybe I should knock on wood.

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About kdarcy21

Well, this is my BLOG, so, read the BLOG !!!
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