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Online banking and bill payment are not possible at all financial institutions. Moneydance uses a direct OFX connection to communicate securely across the Internet with properly equipped banks and institutions. This is a widely used technology, so a large number of financial institutions support this style of communication already. For instructions on how to see a full and current list of financial institutions to which Moneydance can connect, see Setting up Online Banking.
Even if your financial institution does not support direct OFX connection, most financial institutions allow you to download the your transactions from the financial institution's website and import them into Moneydance. For more information, see Using Moneydance with Web-based Online Banking.