Millions of us use online services like Netflix, iTunes and eBay to satisfy our need for fast and easy service. However, people are also using the web for something a little less entertaining, but just as useful: managing their money. According to Pew Internet, 43 percent of Internet users used online financial services in 2005.

Consider this:

Today, you can take care of just about any money chore at any time online: ordering checks, tracking account balances, transferring money, applying for a loan, and even managing your investments. Easier access and more frequent monitoring of your accounts could help you avoid overdrafts and fees. (Be aware that online transactions you make after-hours may not go into effect until the next business day.)

Sick of waiting for your account statements in the mail? Many financial institutions provide electronic delivery of your account statements. Be sure to download and store them in a safe place, such as a removable drive or backup location.

With this service, you can pay your bills by having payment withdrawn directly from your account--no more checks, envelopes or stamps. Many individual merchants, like utility or cell phone companies, allow you to pay your bill via their website. Aggregator services allow you to receive and pay all of your bills from one website. Check with your financial institution about this or check out online bill-pay services from companies like Yahoo!, Quicken or MyCheckFree.

Online services only pay off if they are safe. Remember to:

• Read the privacy policy, as well as the terms and conditions.
• Always keep your username and password secure. Visit us-cert.gov for tips on choosing and protecting your password.
• Never enter personal data (name, birthday, Social Security number, or account numbers) on a webpage that is not secure. Look for a small padlock icon on the bottom right side of the browser to verify that the site is secure.
• Make sure the computer is up-to-date with virus protection and a firewall.

Sources:

nytimes.com; safecomputing.ttu.edu; us-cert.gov; remarsuttonassociates.com; pewinternet.org; bankrate.com; chicagofed.org; checkfreecorp.com