self-service banking for consumers and small business owners, enabling users to perform many routine functions at home by telephone, or cable modem connection. Home banking, also called on-line banking or PC banking, gives consumers an array of convenient services: they can move money between accounts, pay bills, check balances, and buy and sell mutual funds and securities. They can also look up loan rates and see if they qualify for a credit card or mortgage.
Home banking services date to the early 1980s, and since then have grown enormously as home computers become more affordable and easier to use. The ability to transact banking accurately and in the privacy of the home any time of the day has made home banking an attractive alternative to visiting local financial institutions. In the 1990s, financial institutions broadened their home banking services by giving consumers direct access to banking information via the internet banking enabling many to do their banking from anywhere in the United States or around the world.
service offered by banks allowing consumers and small businesses to perform many banking functions at home through computers, telephones, and cable television links to the bank, thereby providing them with a number of convenience services. Bank customers are able to shift money between accounts, apply for loans and make loan payments, pay bills, check balances, and buy and sell securities, among other services. As home banking becomes easier and more convenient to use, more and more consumers sign up for it. It offers the advantages of privacy, speed, accuracy and the ability to perform transactions at any time. Most banks charge an extra fee for access to home banking services. Home banking does not currently offer the ability to obtain cash, for which customers must still visit a bank teller or automatic teller machine.
