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SaltyD from BC
06-06-2008, 10:25 PM
Just curious after reading the internet speed thread. Some cut and paste of the screens that you use would be helpfull for the discussion too. You don't need to provide passwords unless you want to. :)










:confused:

Nanoose
06-06-2008, 10:30 PM
Screens? I do virtually all my banking on line. I log onto the bank on line and can see where we're at, pay bills (that reminds me!!!), transfer funds etc.

Is that what you mean, Salty?

SaltyD from BC
06-06-2008, 10:39 PM
Yup that's what I mean. So now I just need to see a copy of that page where you pay bills to add to my data base. ;)

TimH
06-06-2008, 10:46 PM
I think that parrot has been digging to deep in your ear :-)

SaltyD from BC
06-06-2008, 10:50 PM
I think that parrot has been digging to deep in your ear :-)

Ya think? :p

SaltyD from BC
06-06-2008, 11:03 PM
OK, ok. ok.. No one got my joke.

But a little right click on the posted screens of folks' internet speed on the other thread was interesting for me. Assuming the host is honest no biggy. But posting it here opens up the id numbers for anyone. :) Prolly no big deal I don't know. I have friends who are smart at this kind of stuff and warn me not to post such stuff....

I mean c'mon. Mark's not here someone's gotta do it no? :eek:

bamamick
06-07-2008, 05:30 AM
I do not bank on-line. I don't even have a debit card. I write checks and balance me checkbook every single day and always have. About the closest thing to that is my AmEx card, which I pretty much use for everything so that I get the goodies every so often.

I will say this, though. My company no longer gives us paper checks. We get a statement off of the internet telling us how much we got paid, and our 401K and pension stuff is all via the internet. I don't trust any of it, quite honestly.

Mickey Lake

S/V Laura Ellen
06-07-2008, 05:56 AM
Just curious after reading the internet speed thread. Some cut and paste of the screens that you use would be helpfull for the discussion too. You don't need to provide passwords unless you want to. :)

I don't feel comfortable posting that kind of information on a public forum, I've send it to you via PM. Do you want the passwords to all my accounts or just a few examples? I'll send the rest if you need them.

I like the peace of mind of having a minimum of $100K in a savings account and to be able to move it around by automated phone or via the internet.

High C
06-07-2008, 07:17 AM
...My company no longer gives us paper checks. We get a statement off of the internet telling us how much we got paid...

...a little known fact about direct deposit...if more people had known this it would've never caught on. When you sign the papers to set up direct deposit for an employer or whomever, you're also granting the ability to take money OUT in unrestricted fashion. They're supposed to only do it to correct errors, but the mechanism is there for a dishonest party to clean you out.

Be very careful who you let make direct deposits! And maybe have a separate account only to receive deposits, then transfer the money out ASAP after pay day.

SaltyD from BC
06-07-2008, 11:46 AM
I don't feel comfortable posting that kind of information on a public forum, I've send it to you via PM. Do you want the passwords to all my accounts or just a few examples? I'll send the rest if you need them.

I like the peace of mind of having a minimum of $100K in a savings account and to be able to move it around by automated phone or via the internet.

I'll just go with what you sent by pm for now Allan :D

George Roberts
06-07-2008, 03:03 PM
"...a little known fact about direct deposit...if more people had known this it would've never caught on. When you sign the papers to set up direct deposit for an employer or whomever, you're also granting the ability to take money OUT in unrestricted fashion."

I have no idea if that is true or not but ...

I believe you mean that they can request money from the account.
My bank calls if there is any such request. We have until 11:59pm (when they do transfers) the next business day to approve/disapprove of such requests.

George Roberts
06-07-2008, 03:18 PM
"I like the peace of mind of having a minimum of $100K in a savings account and to be able to move it around by automated phone or via the internet."

Amounts of cash on hand - bank balances and cash in drawers, should be based on cash flow and the ease of paying for unexpected expenses.

For the most part a credit card is sufficient for unexpected expenses.

I cannot imagine where $100K would be needed.

High C
06-07-2008, 03:29 PM
"...a little known fact about direct deposit...if more people had known this it would've never caught on. When you sign the papers to set up direct deposit for an employer or whomever, you're also granting the ability to take money OUT in unrestricted fashion."

I have no idea if that is true or not but ...

I believe you mean that they can request money from the account...

It means they can take out as much as they want, whenever they want. They are under written obligation to only take what is warranted to correct an error, but they have the technical ability to take it all. Most people likely think it's a one way street...in only. Not so.

I was told this by an employer, and confirmed it with my banker.

George Roberts
06-07-2008, 06:17 PM
"It means they can take out as much as they want, whenever they want."

That is certainly not true.

peb
06-09-2008, 07:31 AM
It means they can take out as much as they want, whenever they want. They are under written obligation to only take what is warranted to correct an error, but they have the technical ability to take it all. Most people likely think it's a one way street...in only. Not so.

I was told this by an employer, and confirmed it with my banker.
Years ago, an employer screwed up and put the paycheck money in our accounts twice for one pay period. The next day, the extra money went back. Some employees were quite mad that they could take money out of our account. Of course, if only half went in instead of twice as much, the same employees would have expected the error to be corrected automatically without their involvement.
At any rate, the employer does not have the legal right to take money out of an employees account as they please. And it would be impossible to get away with it. If you actually think you employer is both stupid enough and dishonest enough to try to steal money from you in this fashion, I would find a new employer. Probably not much job security anyway if management is that dumb and dishonest.

pipefitter
06-09-2008, 09:44 AM
It might be a little inconvenient but a good bank would fix it if the money was deducted illegally or in error. I recall once that AOL added a little parasite clause to my account in the way of something called Net Marketing. It would deduct a certain amount every month from my account, even many months after I had canceled AOL. I had never agreed to sign up for net marketing and would never sign up for such a thing. Calling AOL didn't help but my bank sure did. Not only did they put a block on AOL but got all of my money back that they had taken out over a 7 month period. Heck, while they were at it, they even paid me back all the ATM fees I had paid at the machine closest to my house because I told them there wasn't a convenient affiliated ATM close by. In other words, the gas it took to drive to one of theirs negated paying the fee at the more convenient ones.

High C
06-09-2008, 10:47 AM
...the employer does not have the legal right to take money out of an employees account as they please. And it would be impossible to get away with it...

I tried to be very clear about this. They do NOT have the legal right to do it, but they do have the technical ability. My banker was very clear about this.

Picture a firing and a dispute over the last pay check, or, some fly by night outfit going out of business, or.....

George Roberts
06-09-2008, 11:07 AM
The typical banking agreement, http://www.allstatebank.com/disclosure.htm, includes the following clause:

"(h) Preauthorized drafts. If you voluntarily give information about your Account (such as our routing and transit number and your account number) to a person who is seeking to sell you goods or services over the telephone, collect a debt or otherwise electronically access your Account, we may consider any debit to your account initiated by the person to whom you gave the information as authorized by you, whether or not you in fact authorized the debit or physically delivered a check to the person."

Note that this clause only deals with those you allow to make withdrawals from the account.

There is no corresponding clause that allows those with deposit rights to make withdrawals even in case of errors.