Online Bank
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From Wikipedia, the
free encyclopedia Online
banking (or Internet banking) allows customers to conduct
financial transactions on a secure website operated by their retail or
virtual bank, credit union or building society. |
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History
The precursor for the modern home online banking services were the distance
banking services over electronic media from the early '80s. The term online
became popular in the late '80s and referred to the use of a terminal,
keyboard and TV (or monitor) to access the banking system using a phone
line. ‘Home banking’ can also refer to the use of a numeric keypad to send
tones down a phone line with instructions to the bank. Online services
started in New York in 1981 when four of the city’s major banks (Citibank,
Chase Manhattan, Chemical and Manufacturers Hanover) offered home banking
services[1] using the videotex system. Because of the commercial failure of
videotex these banking services never became popular except in France where
the use of videotex (Minitel) was subsidised by the telecom provider and the
UK, where the Prestel system was used.
The UK’s first home online banking services[2] was set up by the Nottingham
Building Society (NBS) in 1983 ("History of the Nottingham". http://www.thenottingham.com/main.asp?p=1710.
Retrieved 2007-12-14. ). The system used was based on the UK's Prestel
system and used a computer, such as the BBC Micro, or keyboard (Tandata
Td1400) connected to the telephone system and television set. The system
(known as 'Homelink') allowed on-line viewing of statements, bank transfers
and bill payments. In order to make bank transfers and bill payments, a
written instruction giving details of the intended recipient had to be sent
to the NBS who set the details up on the Homelink system. Typical recipients
were gas, electricity and telephone companies and accounts with other banks.
Details of payments to be made were input into the NBS system by the account
holder via Prestel. A cheque was then sent by NBS to the payee and an advice
giving details of the payment was sent to the account holder. BACS was later
used to transfer the payment directly.
Stanford Federal Credit Union was the first financial institution to offer
online internet banking services to all of its members in Oct, 1994.[3]
Today, many banks are internet only banks. Unlike their predecessors, these
internet only banks do not maintain brick and mortar bank branches. Instead,
they typically differentiate themselves by offering better interest rates
and online banking features
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More related links about
Online Bank
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Standard Chartered Credit Card customers can apply for
Online Banking by
calling us at our 24 hour Phone
Banking at
111-002-002 / 0800-66-666 ...
www.standardchartered.com/pk/...to-bank/.../i-banking.html
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Register for ... MCB Virtual
Banking, MCB
Mobile. Customer Complaints ... What is the
bank charging for
MCB Mobile? ... SBP Public Warning(Illegal
Banking) ...
www.mcb.com.pk/ -
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Online banking
(or Internet banking)
allows customers to conduct financial transactions on a secure website
operated by their retail or virtual
bank, ...
en.wikipedia.org/wiki/Online_banking
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Online bank
accounts are great. They typically offer high rates for web-savvy saver.
However, the high returns come at a cost. Here are a few reasons NOT to
...
banking.about.com/od/savings/a/3onlinebankacct.htm
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Brief and Straightforward Guide: What is
Online Banking?
www.wisegeek.com/what-is-online-banking.htm
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28 Jan 2009 ... But his experience taught him the hard way, he
says, what many experts have concluded: "Online
banking is a danger." ...
articles.moneycentral.msn.com/.../how-dangerous-is
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