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e-banking

By chuilinglow ·
what is the effect of the e-banking

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by DC_GUY In reply to e-banking

That's a pretty broad question. Could you be more specific?

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Lowering the costs to the Banks

by HAL 9000 Moderator In reply to e-banking

And increasing the risk of losing money to the users.

Is that a simple enough answer to your question?

Col

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e-banking here to stay

by highlife In reply to e-banking

I have been using online banking services for over 4 years now and I can't tell you how much time I have saved each month. You have the ability to setup repeat payments for static bills (i.e., cable TV, internet, car, home, etc.) and easily pay other bills. I spend about 5 minutes per month. Also, I have not physically mailed a check in years...able to send through online banking. Security is always going to be an issue, but you have to take precautions to protect your computer and account information, and make sure you are dealing with a bank that has a good track record with online services and fraud protection.

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The only problem is

by HAL 9000 Moderator In reply to e-banking here to stay

Educating most "End Users" who have the Hollywood idea of what computers actually do which is very far from the truth.

While most Banks will have a reasonable security measure in place it is the Fraud where some problems do occur as it is the customers responsibility to prove this. Recently I had a check altered and my bank in the name of protecting my privacy was unwilling to offer any help to the Police. And all the Police wanted to know was where the check was cashed. As it turns out I had to pay the bank for this information and the best that I got was the name of the bank that it was cashed in along with a BSB and Account Number. They where unable to tell me actually which branch of the other bank it was cashed at but a short walk to that bank provided the information over the counter in less than 2 minutes.

Now I have to wait for the Police to contact my bank and then give them permission to access my bank account details and this is only in relation to the altered check. The whole thing is a joke and at best a long winded process which I have to pay for and hopefully some time in the future get reimbursed for when the Bank accepts that a crime has been committed.

Unfortunately all banks follow this procedure.

Col

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