I am and I can’t think of any reason why not using it as long as I have a bank account. It’s safe (I don’t have to worry about losing the check) and it’s fast (there’s no delay for the money to show up in my account). However, it appears that not everybody is using the convenient service. As a matter of fact, nearly one third of Americans don’t use it, according a survey sponsored by Treasury Department’s Go Direct:
Americans say direct deposit tops both ATM cards and checkbooks as their most important tool for managing personal finances. Yet approximately one in three Americans still do not use direct deposit, including nearly 10.5 million Social Security recipients, despite the widespread opinion that direct deposit is reliable and safe.
So why one out of three respondents doesn’t use direct deposit? It’s not because they don’t have bank accounts. It’s because their employers just don’t offer it! Well, I am glad my employers provided direct deposit to make my life easier.
While direct deposit, as the survey indicated, is one of the most favorable tools, there are far many people don’t like the idea of banking online. For me, I don’t think I can live without online banking now. It’s my tool for paying bills and transferring funds and save me both money and time. I can’t image what it would look like if I have to go back to the old days when everything was done with paper checks. Then, the idea of online banking isn’t so popular. According to the same survey, only 32% think online banking is a very important financial tool. This somehow is understandable, given the degree people worry about the safety of their identities.
How important do you think online banking is?
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