Any online bank customers out there?
by Bill Osler - 3/28/08 5:15 PM
I've been frustrated with my bank's online access for a long time and I've thought about changing but it would be such a hassle that I've been procrastinating. I currently use Suntrust, and I'm convinced that they were dragged kicking and screaming into the information age. When they acquired my local bank a few years back most of the online banking features took a major step backwards, and they have yet to return to the old bank's level of service.
What I want should not be hard to achieve. I want a bank that has reasonable integration with Quicken. I'd like the downloaded entries to include useful information rather than listing the payee as something on the order of 'Bill payment' so that I can easily reconcile the online information with my Quicken register. When I give money to my parents I'd like to be able to do it electronically instead of mailing them a check. There is NO REASON any of this should be difficult ... and yet most banks apparently are not willing or able to devise satisfactory user interfaces. For example, if I set up a bill payment via the bank's web site, why can't their register list the payee? It's not like they don't know who I sent the check to!
So far I have not found anything interesting. Most of the banking people I've talked to apparently don't use Quicken themselves and they can't imagine why I'm not ecstatic about the wretched online offerings they have.
Is there anybody using online bill payment services and such who is satisfied with their bank? Has anybody tried any of the Internet banks that don't have lots of local offices? I wonder whether an online bank would have a bit more commitment to the online process than a brick and mortar institution.