Long-Distance Caregivers Should Look Into On-Line Banking

I work with a lot of elderly here in Connecticut who have a child or children helping them out from far-off places like Florida and the west coast.  In cases like these there is almost always a need for help with money management and that is where on-line banking becomes indispensable. 

All of the major banks (and most of the not-so-major banks) offer on-line banking that can give you instant access to the current account balances, the ability to transfer funds between accounts, pay bills on-line and some banks even allow you to transfer funds from their bank to an account in a different institution.  I'm a big fan of ING's Electric Orange Account, which is a completely paper-free, interest-bearing checking account where literally everything (including mailing paper checks) can be done on-line. 

All of this technology makes long-distance care-giving and money management a lot easier than it used to be!  If you're a caregiver in such a situation you may want to take a tour of the on-line offerings of mom and/or dad's bank and see if it makes sense for you.

Comments

[Leanna]

Michael, I, too, find that my long-distance caregiver clients really benefit from using the electronic banking option. It also makes it much easier for them to obtain balance updates in between statements, which are often required by Medicaid and can be time consuming to try to obtain directly from the bank.

[Leanna]

Michael, I, too, find that my long-distance caregiver clients really benefit from using the electronic banking option. It also makes it much easier for them to obtain balance updates in between statements, which are often required by Medicaid and can be time consuming to try to obtain directly from the bank.