Many things in life can be boiled down to a simple cost-benefit analysis. My opinion is that in the case of online financing the pros outweigh the cons. The pros like convenience, accessibility, and flexibility far outweigh the possible negatives like online security concerns.
While I am hesitant to discuss some of the particulars regarding my involvement with online financing I will say that I am pretty heavily involved at this point. Automated services like like direct deposit and bill pay are amazing. Saving time paying bills and depositing paychecks is very helpful in itself; however, beyond that I would also point of the fact that I haven't paid a single bill late since signing up for these services. No late payment penalties since signing up for auto bill payment is reason enough for me to think these services are worth running the risk of having my finances online.
While the aforementioned examples are smaller picture, I have also considered some of the bigger picture issues as well. As far as security goes, what is really safer, going to a bank where you can be physically robbed or banking online and having your personal information stolen? Now, would also be a good time to point out that I think most bank's online security is better than many store's or governmental organizations online security protection. Whether any of these opinions are statistically proven or not, I do not know. I guess my thinking is just that I believe banks have the most to lose if their online presence is compromised, and relative to other organizations banks are very organized and proactive when it comes to protecting their customers against those who prey on them.
Basically, what I am trying to say is that unless I plan to stop shopping online, I don't plan to stop banking online anytime soon. Additionally, how is a bank teller, salesperson, or waiter stealing your credit card number any different that someone stealing it online? I would actually argue that the chances of this happening are more likely than the same thing happening online. Just ask my parents about their the experience with this while vacationing in Mexico.
While I wouldn't currently take out a home mortgage loan with an online bank, that is about the only thing that I probably would not do online at this point. But you never know, even my opinion about this, like many things in life, may change over time.
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