On line banking is a great tool.  You can manage your money and pay your bills without a stamp.  It’s also available 24/7.  Most of the bank sites have great dashboards and interesting articles on money management and tips on how to grow your business.  And above all—it’s safe.  No chance of someone stealing your checks from your mailbox.

So why are Baby Boomers so afraid of on-line banking?  I don’t get it.  Statistics show that 61 percent of adults bank on line.  However, most of those folks are not Boomers.  And why not?

This is what I hear from reluctant Boomers.  “It’s not safe,”   “I don’t trust it”  “I do it by phone”  “I like mailing my checks.”

Ok Boomers, it’s time to step it up.  Most of you have computers, iPads and smartphones so you own the technology to use online banking.    So in honor of  National Consumer Protection Week (March 4-10) learn the real facts about the safety of online banking and stop falling victim to old scare tactics.

I’m sure you’ve noticed that banks are consolidating; branches are closing while fees increase.  It won’t be long before banks will be forced to charge for the check writing option—even if you carry a substantial balance.  So do what Boomers do best….get ahead of the curve.  Venture in, be a part of the new era in banking.

Learn about Internet banking safety by going to the Federal Trade Commission website at ftc.gov.  Scroll down and find the banking icon that will take you to the Federal Deposit Insurance Corporation FDIC website which offers tips for safe online banking.   Included in the tips is the following message:

As use of the Internet continues to expand, more banks and thrifts are using the Web to offer products and services or otherwise enhance communications with consumers.

The Internet offers the potential for safe, convenient new ways to shop for financial services and conduct banking business, any day, any time. However, safe banking online involves making good choices – decisions that will help you avoid costly surprises or even scams.

The FDIC offers a brochure to tell you how to:

  • Confirm that an online bank is legitimate and that your deposits are insured
  • Keep your personal information private and secure
  • Understand your rights as a consumer
  • Learn where to go for more assistance from banking regulators

Boomers—get out of the dark—don’t be technology laggards—join the rest of the people who are banking the simple and secure way—make it easy on yourselves—and free up your time for more fun activities.