The concept of online banking as we know it today dates back to the early 1980s, when it was first envisioned and experimented with. However, it was only in 1995 (on October 6, to be exact) that Presidential Savings Bank first announced the facility for regular client use. The idea was quickly snapped up by other banks like Wells Fargo, Chase Manhattan and Security First Network Bank. Today, quite a few banks operate solely via the Internet and have no ‘four-walls’ entity at all.

In the beginning, its inventors had predicted that it would be only a matter of time before online banking completely replaced the conventional kind. Facts now prove that this was an overoptimistic assessment – many customers still harbor an inherent distrust in the process. Others have opted not to use many of the offered facilities because of bitter experience with online frauds, and inability to use online banking services.

Be that as it may, it is estimated that a total of 55 million families in America will be active users of online banking by the year 2010. Despite the fact that many American banks still do not offer this facility to customers, this may turn out to be an accurate prediction. The number of online banking customers has been increasing at an exponential rate.

Initially, the main attraction is the elimination of tiresome bureaucratic red tape in registering for an account, and the endless paperwork involved in regular banking. The speed with which this process happens online, as well as the other services possible by these means, has translated into a literal boom in the banking industry over the last five years. Nor are there any signs of the boom letting up – in historical terms, online banking has just begun.

By: Ross Bainbridge

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With the increasing popularity of the internet, more and more industries are seeking ways to utilize this popular medium in an effort to keep up with the changing technological preferences of their customers. These days you can do just about anything online from grocery shopping to making a free phone call to a friend in Tokyo through your PC. The possibilities of the internet are seemingly endless and the banking industry has decided that it will not be left behind. While most people have at least heard of online banking, the majority of them have probably not tried it yet. Maybe it’s because we find more comfort in working with real people and real paper when it comes to money matters rather than performing transactions in the seemingly impersonal universe of the World Wide Web. Whatever the case may be, there are both advantages and disadvantages to online banking. This article will outline these advantages and disadvantages so you can either feel justified in your fears or see online banking as a safe way to quickly and efficiently manage your finances.

Let’s begin with the advantages of online banking.

First, online banking is convenient. It allows you to perform transactions, pay bills and check balances 24 hours a day, 7 days a week. The bank virtually never closes because it is as accessible as your PC or laptop computer. No matter where you are in the country or in the world, you can visit your online bank and handle money matters. You can even schedule to pay several payees ahead of time rather than keeping up with paper bills or trying to remember when to visit a payee’s web site to make an online payment. Your bank will automatically send the payments on your behalf in the amounts and on the dates you specify.

Second, online banking is fast, efficient and effective. Through the internet, transactions are typically performed and executed at a faster rate than ATM’s. In addition, online banks give you the ability to handle several bank accounts (checking, savings, CDs, IRAs, etc.) from one site. The majority of banking sites are also compatible with programs like Quicken and Microsoft Money, so as to allow for more effective management of assets.

Just as with anything else, there are disadvantages to online banking.

The main issue for most people is that of trust. They may wonder if their transaction went through successfully or if they clicked on the correct button. The best way to overcome this uneasiness is to make a habit of printing the transaction receipt. Keep this receipt until your bank statement or online account view confirms that you have successfully executed the transaction.

Online banking sites can also take a while to start up and can be difficult to learn at first. Some banks require customers to provide some form of photo identification in addition to signing a form at one of their branches. Spouses may also have to sign a power of attorney if you both plan to access and handle your accounts together online. In addition to all of this, it may take a while to learn how to use your banking site. Most if not all banks will offer an online banking tutorial. Some even offer live customer support for online banking via chat, email, or phone.

Clearly, online banking has both advantages and disadvantages. It simplifies life for some people and for them it is frankly a better way to bank. For others it may be a little more complex and downright intimidating. In light of these two perceptions, more and more banks are offering online banking as a viable option for their customers.

By: Michael Russell

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onnalyn asked:


specific answers needed!

Inquisitive asked:


Internet Explorer blocks pop ups even when pop up blocker is turned off and the site’s is added to the trusted site.

This is a bank’s site. Even turnign off phising filter does not help.

How can I fix this problem?

Ozark Woman asked:


a block in the middle of the screen pops up that says can not complete trying to open from other location? What does that mean? I have no other location, then this morning I was emailing some friends, I tried to pull up my address book and a bank network popped up, I do not even bank with it…whats upppp??

Internet business banking services refer to those online services that are related mainly to business activities of the clients of a bank. Banks providing these services allow the transfer of business money and verification of account details. Also, account holders can pay certain bills from the account by just clicking their mouse. These services are not provided to all account holders; only those who qualify for Internet business banking services are provided these services.

A client has to authorize a bank to make certain decisions on his behalf whenever the client has decided to utilize an Internet banking services package. Digital signatures play an important role in this regard, as at times the bank may seek confirmation from you if there is any major transfer of funds. The authorization can be given through digital signatures.

Internet banking business services are becoming more and more popular for all types and sizes of businesses. They help in cutting down the red tape and expediting the transfer of money, which further helps in closing deals quickly.

To use these services, the client or the customer has to sign an agreement with the bank. This agreement can be signed online also. Before you sign this agreement, go through the various terms and conditions mentioned in the agreement. Also, it is better to keep a close watch on the Web site through which you operate your business account. Try to keep a tab on balances in your account. Report any discrepancies you may find immediately. If your business accounts are operated by one of your employees, then change your passwords and user names should this employee leave the company. You can get in touch with your bank and it can be done within no time. This will help you to enjoy safe Internet business banking.

By: Marcus Peterson

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ballalot6 asked:


i cant go to the bank of america website whenever i type it it and press enter it sends me to a google search with sites and i click them but they take me to other sites.

anytime i do a search on google and click on the links to the sites they take me to some random sites

im pretty sure i have adware and spyware on my computer

ive tried everything to solve the problem even downloaded programs to clean it up but nothing has worked? can you help me?

qusai Z asked:


im 17 and i need to internet shop, is there a good bank in Abu Dhabi that grants me a card ??

kobakha asked:


and I am from Republic of Georgia and I live there also, and I need the bank wich supports this country.

ecanseco asked:


I’m mexican and live in Mexico. I want to open a bank account with debit card in a US bank THROUGH THE INTERNET. In which banks can I do this?