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Old 08-30-2006, 07:42 PM   #1
dsprik
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Finances on the road

Sounds like a good topic heading to start under the "HAVE MOC WILL TRAVEL" section of this forum, doesn't it?

Cheryl and I currently have a Credit Union that we really like using. We have an aversion to regular banks, even though we do have a small account at National City Bank. How do you guys handle your banking and check deposits when moving around the country?

Unfortunately, I haved Workers Comp checks and LTD (Long Term Disability) checks as income right now, NEITHER of which will direct deposit. Trying to get a reliable system setup to where my sister will deposit these checks for us.
..... 1. W/C checks must be sent to ME specifically. Solution: W/C lady - "Just tell me where you want them sent, and DON'T tell me they are NOT coming to you..."
..... 2. W/C checks MUST be endorsed prior to deposit - even if "for deposit only". Most other checks are not subject to this requirement at my CU. Solution: My sister can sign my name.

I will try to set up a similar system for my LTD checks. This only comes in once a month, compared to the weekly W/C checks, which are much more critical.

We have debit and credit cards. We would really like to keep our account at our CU.

Please feel free to add any and all advice here...

 
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Old 08-30-2006, 09:03 PM   #2
Parrothead
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We do all our banking on line. All income is direct deposit. I can transfer around at our different accounts. We do bank with 2 regular banks not credit unions.
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Old 08-31-2006, 12:43 AM   #3
Glenn and Lorraine
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We operate much the same as Sue with everything done online.

It sounds to me as though you thought everything out and have a very workable plan. So long as your CU has online banking I see no reason you couldn't keep your debit and credit cards with them.


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Old 08-31-2006, 02:45 AM   #4
jsrang
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Dave,
We also bank on line. For us, essentially all income is Direct Deposit. We have 2 checking accts 1) w/BOA with branches in the South and 2) 5/3 w/branches in the Midwest both of which pretty much covers our travels. Our mail system is through SD - Alternative Resources. Sounds like you have pretty tight restrictions w/WC Checks

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Old 08-31-2006, 03:09 AM   #5
richfaa
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Our income checks are direct deposited.We also pay all of our bills online .We do not have a single bill that can not be paid online including property taxes.. all of our billing is also paperless, that is online notification only. We use www.checkfree.com for some The individual credit card companies for others and Dave you say you have national city bank..Their online banking and check paying service is excellent and you can pay any and all bills online using their service.I can even pay my Lions membership dues or write a cyber check to you if need be.. I would look into it.We also have our FAA credit union.They pay better interest on savings and CD's but most C.U's do not provide the services that a bank can.

For those wary of banking online..
As a former security person with your US Government (crypto) the 128bit encryption used online is as good as the security used by the US Government for their secure communications(don't know if that is reassuring or not) now having said that a dedicated and knowledgeable person can hack anything. Now our mail is a different matter..Still have not completely have that issue solved.

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Old 08-31-2006, 05:10 AM   #6
dsprik
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Oops... sorry guys and gals... Should have mentioned that we bank exclusively online. Have for over ten years. I punch up our account 2-3 times a day to monitor. We are very familiar with National City online banking. Think we went with them exclusively for 3 years.

We switched to the local credit union, Members Credit Union, as they were much easier to deal with. Fees were about 1/2 of NC. I have a very close friend who is the branch mgr of our local NC bank, and he has even cautioned me that if an unsusual situation arises, NC is NOT a flexible corp to talk to. I found this out. Don't like being directed to Columbus, OH to someone who only reads the rules right out of the book and doesn't have any knowledge of my family's personal situation. I have had my credit union bend over backwards and go to bat for me when an unusual situation occurs.

This friend of mine almost got fired when he accidentally went $10 over his limit on his NC corp card, charging a hotel room for an annual corporate NC mtg he was attending in OH. He relayed this to me to warn me of the rigid inflexibilty of NC. I have found this with other banks also.

So, even though I like NC's online banking system a little better, I will deal with credit unions online banking.

The direct deposit thing is my major obstacle. May have to put up with this for a year or so.

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Old 09-01-2006, 04:21 PM   #7
patodonn
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Hmmm......Interesting problem.

First, online banking seems to be the most practical and workable way to pay bills while traveling. I would suggest that you use either your bank or your CU for that, whichever has the best online billpay set-up. Once you decide on which facility, your main income needs to go to them for bills.

We use a debit card (which is also our ATM card) from one bank to access cash while traveling. If you feel the great need to keep your CU in the mix just for debit card (ATM) purposes, make sure you deposit enough $$, on a regular basis, with them to keep that account solvent.

Your credit card is, I assume, a Mastercard , Visa or other similar card. They are paid directly. We do that via online banking. You don't send credit card payments to the bank or CU, even now...it goes Masterard (or whoever) directly.

It should be workable, if you can figure out how to keep the CU debit card account solvent, and get everything else set up with your selected banking facililty for online payments. Just get the deposit situation in hand. Maybe the monthly and two of the weekly ones to the bank, one or two of the weeklies to the CU.

Your sister will be busy, and best hope she can keep it all straight and punctual!! The good news is that, in addition to online capabilities, you can easily check deposits and ATM withdrawls with your CU by phone every week. No unpleasant surprises that way.

Cheers,

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Old 09-01-2006, 05:06 PM   #8
dsprik
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Thanks, PJ. I do pay my credit cards online, which is helpful. Just trying to figure out how to get the pesky W/C check in my account in a timely fashion. I just checked and National City Bank doesn't have any North Carolina locations. Need to go to my credit union and get their ideas...

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Old 09-01-2006, 05:48 PM   #9
jpkelpe
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could you just deposit it using your ATM card. I have deposited checks using the ATM card--just the reverse of taking out the money. Only problem is you will have to notify w/c of where they need to send the checks and that may be a problem as the checks need time to get to whereever--could you maybe talk w/c into paying biweekly? (it is done sometimes)

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Old 09-01-2006, 06:07 PM   #10
dsprik
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That could help. I can check on the ATM deposit. Some banks are slow crediting these. However, credit unions are different animals. I'll see what they say...

We really don't plan on moving around too much. Maybe this will work.

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Old 09-04-2006, 05:41 PM   #11
sreigle
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Our income is direct deposited. Our cell phone and other monthly bills are bank drafted. Variable bills, such as the credit card we use for fuel, I phone the bank and use the automated bill payment service. That costs me about 20 cents per payment. I also could do that online but don't want to rely on that method since sometimes we don't have an internet connection. I mail deposits and they send me back a new deposit slip and postage paid envelope along with the deposit receipt. I can check my account online.

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Old 09-05-2006, 05:13 AM   #12
dsprik
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I may have to do the mail in deposits too, Steve. I have an aircard, so I can check my account anywhere there is cell service, if I don't have WiFi - which is nice. I'm probably going to have my sister , who works for the State, about 200 ft from my credit union, just endorse and deposit my WC checks. If I have it sent to her work, it will be deposited immediately. This credit union also releases funds immediately upon a check deposit. As long as my WC case worker, the bank, and my sister all know the situation, they all seem willing to go with this setup - and bypass the beaucracy...

As for depositing checks at ATMs, our credit union has discontinued that practice. Many other financial institutions are following suit. As you can imagine, it's too easy to intentionally, or unintentionally, write incorrect info on the deposit slip.



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Old 09-05-2006, 06:02 AM   #13
stiles watson
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Banking gets a little crazy between the States and Hong Kong. Have two different credit union accounts along with one bank account in the the States. We also have US dollar Amex and Visa cards. Everything is paperless, online, auto deposit, etc. We still have business to do in the States and receive deposites there.

In Hong Kong we have HK dollar accounts and Amex for Hong Kong Business. Credit cards accumulate non-expiring frequent flyer miles. Hong Kong was under British rule before 1997, so the banking system is modeled after the British system. It is a lot clumsier than the American system. The online stuff does not work as smoothly, but it works. Hong Kong banks pay a higher rate of interest on savings than US banks. So the protocol is to keep all your funds in the savings and only transfer when you write a check.

None of this relates to your issues, dsprik, but how would a Limited Power of Attorney work for your signature problem?

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Old 09-05-2006, 06:16 PM   #14
dsprik
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I think that as long as the case worker does not mind, we will just do it the way I mentioned earlier. If there is a hestitation anywhere along the line the Power of Attorney would be an option...

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Old 09-06-2006, 03:31 PM   #15
DCP
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We do the same as parrothead. All electronic!! The only way to go.

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Old 09-07-2006, 05:58 AM   #16
dsprik
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We do everything elctronic/online also, Dave. My WC and LTD checks throw a monkey wrench into the situation. This should only last until my permanent retirement early next year, though. Then all direct deposit from State Retirement and SS.

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