UseMyBank Details Page

Ease of Use (8)

It appears that one of the major objectives of UseMyBank is to make itself a conduit for buyers and sellers to get together as easily as possible. You can utilize the services of UseMyBank about as easily as using a debit card for a purchase of, say, casino credits online, except you don't have to give your credit card information out to a number of casino merchants if, for example, you opened a number of accounts. It must be noted, however, that while UseMyBank is a very convenient deposit method, it is not a withdrawal method, so the transactions that pertain to money coming back to you must involve a financial institution.

Promptness (9)

No one wants to wait around and be in the dark when it comes to buying anything, whatever method they choose. It's always a positive when transactions can be done swiftly and promptly. UseMyBank scores nicely in this area, allowing for buyers to make purchases with a minimum of "give-away" in terms of information and at the same time cutting through a lot of the red tape associated with a transaction.

Mulitple Currencies (6)

Right now UseMyBank supports the U.S. dollar and the Canadian dollar. However, it allows for online payments through financial institutions in Canada, the United Kingdom, China, Poland, Austria and the Netherlands. Countries like Sweden, Germany, Finland and Norway are on the drawing board. Although it appears that U.S, financial institutions are not totally on board yet, it is also in the "pending" category. Still, this is a minus.

Security (9)

One major concern among people who use an electronic payment system is that the information they submit to that party is going to go no further; that is, into the hands of third parties. UseMyBank pledges that any personal information that you give it will be completely safe. The company is governed by certain privacy policies that are monitored by the Canadian government, so customers are protected in that respect. Regular audits are performed to ensure consumer safety and security. There are firewalls, as well as high-speed "backbones" that are only accessible by a limited number of authorized personnel at UseMyBank. They claim to have one of the most advanced fraud detection systems available on the internet as well.