I have been banking online for quite some time now, and I love every bit of it! I have interest-bearing checking, free online bill-pay, one-stop account consolidation (so I can see my brick-and-mortar accounts, along with my credit card accounts) all in one place. And the nice thing about this is the time it saves me every month.
I know there are a lot of places out there where you can set up automatic payments to be pulled directly from your account, or where you can call and have them deduct it from a credit/debit card, but that takes time to make the call or go online to various sites to make the payment. I know with most credit card sites that allow online payment, they still say to process it 5 days in advance of the due date, which saves you nothing.
And, once you've been paying online for a while, you find out exactly how long things take to get to their destination, and can work the system, much like you would with checks.
I would suggest to anyone to check out NetBank.Com as a model for what an online bank should be.