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:
Banking Online Is Convenient, but How Secure?
Banks have gotten better at preventing online fraud, but criminals arent giving up. So financial institutions need to do a lot more to increase protections...



Does "ditch my..


Branches yielding to online banking
If the experience of the Bank of the Philippine Islands is any indication, there should come a time in the near future when online banking would take over branch operations...


Japanese banks could snatch $100 billion of the Australian home loan market - NEWS.com.au

Japanese banks could snatch $100 billion of the Australian home loan market
NEWS.com.au
But Mr Swan said the Government's banking competition reforms have put the power back into the hands of consumers. "Banks can no longer take their customers for granted," the Treasurer said. "The banks are now having to earn the loyalty of their .

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Business Wire - Love May Be Blind, But MoneyGram Recommends Keeping Eyes Wide Open To Avoid Risk of Romance Scam
January 17, 2012 -- MoneyGram International advises consumers to stay alert to red flags of fraudulent activity when engaging in an online romance.


BofA Debit Fee Plan Led to 20% Jump in Closed Accounts - ABC News (blog)

BofA Debit Fee Plan Led to 20% Jump in Closed Accounts
ABC News (blog)
Maybe. They alienated me so much that we closed out a $15000 savings account. But my wife is addicted to their online banking. I was one who left B of A for Ally BankEURŠI'm getting a massive amount of interest on every account I have with Ally.

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SunTrust Acquires Online Lender FirstAgain - American Banker

SunTrust Acquires Online Lender FirstAgain
American Banker
Atlanta-based SunTrust said FirstAgain's technology will benefit the bank's customers through EURœinnovative enhancements to SunTrust's online lending offerings. Applicants can receive proceeds from FirstAgain the same day they apply, the company says.
SunTrust to Acquire Online Lender FirstAgainMarketWatch (press release)
SunTrust to buy FirstAgainAtlanta Business Chronicle

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Bonuses Pinched for Bank CEOs - Wall Street Journal

Bonuses Pinched for Bank CEOs
Wall Street Journal
This past week, traders and investment bankers at several firms learned their total year-end pay would be significantly less than the year before. At Goldman Sachs Group Inc., some bankers and traders were told they are taking home no bonus, .

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Business Wire - Silicon Valley Bank Funds Channel IQ Line of Credit
January 18, 2012 --

Leading company for MAP policy compliance secures monies to allow for immediate growth ...



Banking through the mobile phone with BanKO
Talk about branches yielding to online banking, BPI Globe BanKO, a savings bank owned by the Ayala Group of Companies and Globe Telecoms, offers an unorthodox banking experience...


SIMPLE CEO: Here's All The Ways We've Improved On Traditional Banks
The..


Market Wire - Empire National Bank Announces Record Earnings for the Fourth Quarter and the Full Year 2011
January 19, 2012 -- Empire National Bank (OTCQB: EMPK), today announced fourth quarter and year end results for 2011. Highlights for the quarter and the year...


Business Wire - SafeNet Aids Fight Against eBanking Fraud with New Optical Signing Device
January 17, 2012 -- SafeNet announces the availability of the eToken 3500, a new identity and transaction protection solution that addresses multiple levels of risk...


Online banking warning issued
The banking sector's security body has issued another warning for people to be extra vigilant while banking online...


Banking sector to grow in EUR˜12
CEBUs banking sector is expected to sustain its growth this year despite external risks. A former top official of the Cebu Bankers Club (CBC) said most banks are expected to take advantage of the growing trend of online banking to improve services...


How to get into retail banking
A career in retail banking is highly competitive, but offers graduates early responsibility and a wide range of experience Retail banking EUR which can incorporate branch, online and telephone banking and be highly customer-facing EUR is an attractive option as the larger employers tend to operate graduate training schemes. But competition is fierce and students must apply early, requiring a long ...



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