Welcome to Community at BECU, a place for anyone who wants to talk about money, saving, investments and everything in between. Have a question or just want to get the community’s opinion on something? This is the place. It’s a great resource for peer-to-peer advice, access to the latest BECU news and behind the scene’s insights from BECU’s experts.
Of course I realize that "new" ideas are often found to have holes in them, so please do not be concerned for my sake if the response (initial response, anyway) is more negative than positive. I would still enjoy knowing of the discussion. More hopefully, other new ideas need time to percolate in people's minds before being treated as feasible, let alone desirable. Just as background, my early career was at a money center bank at a time (in the wayback) when end-of-day cash management was a new concept in maximizing return on investment, and the banks that made their mark first in the market gleaned commercial customers from other institutions. Favorable exposure was given by national magazines, industry conferences, and local papers. On the other hand, I was there to witness attempts to show lines of product to commercial bank customers via early laptops that had to be plugged into customers' phone systems to dial up (really: dial up!) the bank computers. As you can imagine, there was lots of crawling around under desks and behind consoles, and unplugging customers' deskphones and trying to navigate internal PBXs. That was a project that actually went too far before being scuttled. (There should have been some early-spec scenario walkthroughs that could have saved the bank time and money, and would have better preserved the dignity of young bank relationship officers [For good reason, the senior loan/relationship officers would have nothing to do with it!])
... View more
Hello Kristin. I first saw the recommendation for this access feature in a forum discussion of the online Mint service hosted by Intuit. I had been in the process of opening a Mint account when it arose that neither Mint nor BECU would be responsible if my Mint account info were hacked and money withdrawn or transferred as a result. The discussion prompted me to cancel my nascent Mint account. I admit to knowing of no financial institution offering this service, but I recommend that to be seen as market opportunity rather than signal any unimportance. In fact, in the current climate of growing identity theft and account hacking, a service like this could be marketed as proof of BECU's unique interest in the financial well-being and safety of its members - to say nothing of the industry prestige of the first to offer this feature/service in advance of any other institution. There are, I suspect (and I know a few), many potential online account users for current balance and financial statements who are wedded to paper, pen and ink because of the potential risk of opening up online access to their assets and income. ReadOnly online access would alleviate the fears of many of these folks, and attract others who currently bank elsewhere. Waddaya think?
... View more
With the establishment of READONLY access via a READONLY password, I could use that in Quicken and MINT for those programs to be able to retrieve information without the possibility of that password being used to extract or transfer money. Or I could have someone monitor account usage without being able to change account info.
... View more