Learn about Direct Financial Services

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With Direct Financial Services you complete all of your financial tasks in Money and then send the information to your financial institution (Bank, brokerage house, and credit card provider.) via a direct connection with their server. Like Web Financial Services, Direct Financial Services consists of two distinct services:

• Direct Statements This service allows you to download online statements (Electronic lists of the transactions that have cleared your financial institution. The information is similar to the information in your paper statement, and you can use it to update your account records electronically. Online statements are available through both Web and direct banking in Money.) from your financial institution into Money. If there is new statement information available when you connect to your financial institution, Money downloads your statement automatically. Some financial institutions also allow you to create electronic transfers (Xfers) in order to move money between accounts held at the same financial institution.

  A modem (Short for modulator/demodulator, a communications device that enables a computer to send or receive information over a standard telephone line.) and an account at a participating financial institution are required to use Direct Statements.

• Direct Bill Payment This service allows you to create electronic payments (Epays) and automatic payments (Apays) (Electronic payments that you set up with your financial institution where funds are automatically withdrawn from your account and payments are sent to the appropriate payees, whether or not you connect to your financial institution. These payments are recorded in your Account Register the first time you connect within 30 days of the due date.) in Money. Then, when you connect to your financial institution, Money sends the payment request automatically. Money also displays status for individual Epays and Apays in the Payments in Progress place until the payments have cleared your financial institution.

  A modem and a checking account at any financial institution in the U.S. are the only Direct Bill Payment requirements.

Contact your financial institution for details about their specific Direct Financial Services.

How do I create an Epay?

Tell me more about Web Financial Services.

How do I use Apays?

How do I download online statements?

How do I find out what Online Services my financial institution offers?

How do I set up my computer to use the Internet?

Tell me why I might want to use Online Services.

Tell me about the benefits of using online statements.