Online Banking History

The history of online banking dates back to 1995 where the Presidential Savings Bank gave the option of viewing the account balances and transactions online for their customers. Today every major banks have the online checking accounts facility. There are many advantages for the customers to do banking through internet. It provides facility to handle the finance at one's own pace other than business hours also.

Let's face it, banks do not have the best hours. Many people are at work when their bank is open and get off work after their bank is closed. This makes it very difficult for these people to take care of their banking. While some bank branches do have limited Saturday hours, this is usually an extremely busy time to go to the bank. Rather than waiting in long lines, you can handle your financial transactions online, any time of the day or night. Online transactions take about as long as an ATM transaction would thanks to the fast speed of the Internet. The faster your computer is, the faster your transactions will be.

Also, online banking can be done anywhere in the world that offers a computer with Internet access. This means if you are away from home you can still manage your bank accounts and view your information. In addition, you can sign up for alerts that tell you when automatic deposits or withdrawals are made, or when your account hits a certain balance. These alerts can be sent to you via email, telephone or mobile phone. Today's advanced technology makes even makes it possible to connect to your accounts via mobile phone with Internet access. You can even pay your bills online without ever having to write a single check or mail a single envelope.

Security is another important part of online banking history. In the early days, it may have been easy for a skilled hacker to get into bank accounts, but no more. Today's banks have extremely sophisticated security systems that no one can crack. They use 128-bit encryption and a variety of other security methods to keep your information safe. Online banking has certainly come a long way in the past ten years. With so many features and benefits, it's no wonder so many people these days are turning to online banking as a way of managing their finances.
Online Banking News:
Citigroup wins bid for stake in GDB
Citigroup has won an 18-month bidding war among overseas suitors for a stake in Guangdong Development Bank (GDB), an official with the US banking giant said yesterday EURŠ..


Online voice banking (Independent Online)
A voice biometric system for authorising banking transactions has been launched in the UK...


Online voice banking (Independent Online)
A voice biometric system for authorising banking transactions has been launched in the UK...


Barratt jobs cuts take construction toll to 2,500 - Times Online
Barratt Developments is about to make about 1,000 people redundant, taking job losses in the construction industry to nearly 2,500 in just two gloomy days. Barratt, whose shares have plunged by 97 per cent since their peak in February 2007, summoned ...


Market spotlight: Broadcasters and the Olympics - CNN Money
NBC is virtually assured of winning the prime time TV ratings race when it airs the Summer Olympics in Beijing starting Aug. 8. The General Electric-owned network is banking on pulling in more than $1 billion in advertising revenue across all of its ...


Mozy offers Mac users first unlimited online backup service (Yehey!)
Mozy, Inc., part of the Cloud Infrastructure and Services Division of EMC, announced the release of MozyHome for Mac, the industry's first unlimited online backup service for the Mac. Mac users in the home can now safely and cost-effectively back up all of their digital information over the Internet...


Banking on Customer Satisfaction - CRM Buyer
Americans are mainly quite happy with the service at their banks, although they see some room for improvement. According to a survey by the American Society for Quality and Harris Interactive, two-thirds of those who had a problem were satisfied with ...


Barclays boasts of e-banking security bonus (vnunet.com)
David Neal, IT Week , Tuesday 1 July 2008 at 16:31:00 High street bank Barclays is offering its customers free downloads of Kaspersky security tools Barclays Bank is offering its customers free online security software in a bid to lessen the amount of risk they face when banking online....


PR Newswire - comScore CEO and CFO to Discuss Competitive Dynamics in Online Audience Measurement in Conference Call on Wednesday, June 25
June 24, 2008 -- RESTON, Va., June 24 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today announced that Dr. Magid Abraham, CEO...


Review: Banking site MoneyAisle shows promise (The State)
MoneyAisle is a free new Web service that makes a bold claim: It says it will maximize the interest rates consumers can get on savings accounts, by running online auctions in which banks bid for consumers' business. The idea makes some sense, because a bank generally should find it cheaper to sign up a new customer through MoneyAisle's auction engine than through advertising. In theory, those ...



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