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:
Barclays Bank re-launches online banking : Ghana Business News
The statement, signed by Mrs. Shola Safo-Duodu, Head of Corporate Affairs, said the facility was to provide secure, reliable and fast online banking solutions via the internet for a selected group of customers of the bank. ...


G-7 officials stress unity on global economy - CharlotteObserver.com
Governor of the Bank of England Mervyn King rides a dog sled on the outskirts of northern community of Iqaluit, Nunavut, Canada Friday, Feb. 5, 2010. Iqaluit is the site of the G7 Finance Ministers meeting. IQALUIT, Nunavut Top international finance ...


1st Mariner Bank Selects Geezeo to Provide Online Consumer Finance Platform - Business Wire (press release)

1st Mariner Bank Selects Geezeo to Provide Online Consumer Finance Platform
Business Wire (press release)
EURśWe are excited to work with the like-minded team at 1 st Mariner Bank because they also see the rapid evolution and importance of online banking and its .

and more »
..


TechMan: Online bankers, be wary of 'man-in-the-browser' attacks (Pittsburgh Post-Gazette)
Recently TechMan wrote about the attack on Google and how targeted attacks are becoming more common. Another type of computer attack has grown in popularity as well -- the banking Trojan...


Business news in brief - Mercury
Meridian Bank hires DiVincenzo as business development officer DEVON EUR” Meridian Bank announces the appointment of Karen DiVincenzo, Douglassville, as business development officer. DiVincenzo's responsibilities will include cultivating new banking ...


I bank online. Please rob me and steal my identity - TelecomTV

Computeach
I bank online. Please rob me and steal my identity
TelecomTV
Many people working in the ICT sector know about and are wary of the pitfalls and dangers inherent in some forms of online banking. .
Most web bank clients use same passwords elsewhereReuters
How to Fail at Online BankingThe New New Internet
Customers risk online banking fraud by reusing bank credentialsSearchSecurity.com
eSecurity Planet -Sentor - Managed Security Services (blog) -Out-Law.com
all 55 news articles »
..


1st Mariner Bank Selects Geezeo to Provide Online Consumer Finance Platform (Business Wire via Yahoo! Finance)
HARTFORD, Conn.----Geezeo , a diversified online banking provider that offers personal financial management , social networking and Web community platforms to financial institutions, announced Baltimore-based 1st Mariner Bank has signed on to provide Geezeos online consumer finance platform to its customers...


Bank of America Web site down - Chicago Tribune

The Business Insider
Bank of America Web site down
Chicago Tribune
Bank of America Corp., one of the nation's biggest banks, said it is trying to determine what is wrong with the Web site. "Bank of America's online banking .
Bank of America Web site goes down FridayCNET
Bank of America clients unable to access websiteBoston Globe
Bank of America Website Down - Online Banking Not WorkingModern Mom
Gather.com -Entertainment and Showbiz! -Khabrein.info
all 63 news articles »
..


PIN Debit News Blog: Featured Post: How Dangerous is Online .
Experts say there are no reliable studies showing how much money is lost through online banking alone, primarily because banks themselves can't always pinpoint the source of how a crime occurred, whether on the Web or through an ATM. ...


Evening Standard; London (UK) - Accountant jailed for Pounds 1 million theft
February 5, 2010 -- A sENIOR accountant for a leading tour operator has been jailed for 44 months for stealing Pounds 1 million from his boss. Riaz Ahmed, 67,...


Beyond Online Banking: The Next Generation of Online and Mobile .
It has become obvious with recent events that banking and lending fuel much economic activity, both good and bad. And like it or not, banks and card...


Smile NY: Botox king springs deals - New York Post
Good news for economically minded New Yorkers who get Botox to blitz lines and wrinkles -- the doctor who owns The Big Apple's only walk-in Botox clinic is launching tomorrow an online discount Botox bank that he hopes will eventually have "branches ...


TechMan: Online bankers, be wary of 'man-in-the-browser' attacks - Pittsburgh Post Gazette

TechMan: Online bankers, be wary of 'man-in-the-browser' attacks
Pittsburgh Post Gazette
These new attacks wait for the user to log onto his bank site and then "ride along" for the session. While the user is doing his online banking, .

..


Basu: Get a grip on fear of socialism - Des Moines Register
The leftist online journal Daily Kos released an intriguing poll finding last week. Of 2,003 self-described Republicans interviewed, 63 percent think President Barack Obama is a socialist. Another 16 percent aren't sure. The term socialism is ...


Business Wire - 1st Mariner Bank Selects Geezeo to Provide Online Consumer Finance Platform
February 5, 2010 -- Geezeo announced Baltimore-based 1st Mariner Bank has signed on to provide its online consumer finance platform to its customers. ...


Little credit unions are a viable alternative to big banks - Los Angeles Times

Little credit unions are a viable alternative to big banks
Los Angeles Times
But I'm worried I will have to give up services I like, such as online banking and free bill payment. What will I give up if I use a credit union? .

..



Technorati Tags: ,