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Study Shows Digital Account Opening Cravings

Wednesday, August 7, 2013 - 5:21 AM
From the Credit Union Times:
The new Javelin study is blunt: consumers crave online and mobile account opening but financial institutions are stumbling and uncertain in their embrace of this trend.

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I can understand the appeal of online account opening, but I'm not sure about mobile account opening. Have you ever opened a bank account using your smartphone?
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
1. Friday, August 9, 2013 - 2:14 PM
Never did a mobile account opening. I have only opened accounts on line for reward checking accounts or higher interest CD's when they have been out of town or out of state. Being a senior citizen and now a widow I am so afraid of the on-line statements because I am afraid  the kids will miss an account when I die. That is why every year I give them a copy of account numbers and bank names and phone numbers. I also print off at least one statement and put it in a folder in the locked fileproof file for them. I also have given them each a copy of the beneficiary papers for each account given them each a copy of any new ones I might have as I change banks or credit unions or open a new account. The file is locked but they know where the keys are and where the spare keys are. They also have a key to my home. I keep the fireproof file in a corner of the basement next to 2 cement walls for extra safety. 

I also  have in the folder in my fireproof file my last tax return with all the interest statements form the banks and credit unions. That folder also has the passwords for internet banking and for the phone bank. I am sure with internet banking there will be a lot of accounts that are not passed on to the beneficiaries until they are escheated and the kids or relatives find their parents names  in the "missing money" sites. There are  too many seniors that are not open with their children for one reason or another and children who are afraid to have that conversation with their parents. 

If we love our children we will iniate that conversation if they haven't. If we are uncomfortable doing this with the spouses around that arrange this meeting without them BUT DO IT before it is too late. Get that POA and healthcare papers filled out and have that conversation with them. I am not ready to kick the bucket but I want to make things easy for the children when it happens. 
Ally6770Ally6770942 posts since
Jan 16, 2010
Rep Points: 2,740
2. Friday, August 9, 2013 - 5:09 PM
To much info to be on the internet rosie. Ya never know,:)

Children should know you have their back, but I would give them access to it through an attorney.
RicochetRicochet135 posts since
Jan 19, 2010
Rep Points: 366