Business Internet Banking

We can pay bills to any business via internet banking, Is there any reason not to use it to send money to a residence or college dorm room using internet banking? Do banks simply mail a check when the payee does not have an electronic banking relationship (like major corps. seem to have)? Seems like a convenient way to send $ if a person can wait the 5 days it ususally takes.

I have actually payed my own mother using my billpay feature on online banking. If the merchant (or individual in this case) doesn't accept electronic payments, then the bank just cuts them a check and sticks it in the mail just like you would. I pay just about all of my bills this way. One added bonus (at least through my bank) is that there is no stop payment fee if you use bill pay whereas if I wrote the check and mailed it off it would cost me $32 to stop payment.

2007-12-06 21:49:06 by Finance Guy

Now it's easy to make fast, convenient and secure international payments online and manage your Foreign Currency accounts quickly and cost ...

Doing a project and I am stuck, as i am looking for a business model, and one that would for online banking

develop one?

do not think they are available freely

2008-11-14 00:35:54 by College Student

Price: $9.95 $9.95

Actually, I would like to design a new business model for the internet banking sector. This business model will be identical to Google’s and E-bay’s business models. The suggested business model will be based on the creation of customer communities for the exchange of financial services or products. Analyze your personal opinion about this business model.

Online banking usually offers such features as:

Bank statements, with the possibility to import data in a personal finance program such as Quicken or Microsoft Money
Electronic bill payment
Funds transfer between a customer's own checking and savings accounts, or to another customer's account
Investment purchase or sale
Loan applications and transactions, such as repayments
Account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.
There are a growing number of so-called virtual banks that operate exclusively online. These online banks have low costs compared to traditional banks and so they often offer higher interest rates.



Protection through single password authentication, as is the case in most secure Internet shopping sites, is not considered secure enough for personal online banking applications in some countries. Online banking user interfaces are secure sites (generally employing the https protocol) and traffic of all information - including the password - is encrypted, making it next to impossible for a third party to obtain or modify information after it is sent. However, encryption alone does not rule out the possibility of hackers gaining access to vulnerable home PCs and intercepting the password as it is typed in (keylogging). There is also the danger of password cracking and physical theft of passwords written down by careless users.

Many online banking services therefore impose a second layer of security. Strategies vary, but a common method is the use of transaction numbers, or TANs, which are essentially single use passwords. Another strategy is the use of two passwords, only random parts of which are entered at the start of every online banking session. This is however slightly less secure than the TAN alternative and more inconvenient for the user. A third option, used in many European countries and currently being trialled in the UK is providing customers with security token devices capable of generating single use passwords unique to the customer's token (this is called two-factor authentication or 2FA). Another option is using digital certificates, which digitally sign or authenticate the transactions, by linking them to the physical device (e.g. computer, mobile phone, etc). While most online banking in the United States still uses single password protection, the FDIC has issued regulations requiring that banks implement more secure authentication mechanisms by the end of 2006.

Banks in many European countries (including the Scandinavian countries, the Netherlands, Austria and Belgium) are offering online banking for e-commerce payments directly from customer to merchants.

2007-05-19 03:07:51 by Sotiris M

Price: $5.95 $5.95

I'm starting my own online business and need to process credit cards. I'm familiar with paypal and clickbank but would like to see if getting a merchant account with credit card processing features be a better fit for my business.

However, I know that many banks do not like internet businesses, so is there a company that specializes in this type of accounts?

Hi. I agree that local banks aren't too fond of giving individuals doing internet business a merchant account with credit card processing features.

I know, I've been there. That's why I went with paypal when I started my online ventures.

But there comes a point in time when your sales will eventually be large enough to make you want to go with your own merchant account credit card processing.

But it's not a step that should be taken lightly. There are many things to watch out for and you have to be well informed before choosing a company to go with.

For my company, when it was time to take the leap, I first searched online, like google and yahoo, and found a few companies that had great features, and some offered free merchant accounts.

One in particular is http://www.electronictransferservice.com .. now I'm not recommending that you go with their service, but at this website, I found a lot of information on credit card processing and companies that provide the service.

You should check out their FAQ page, it's filled with tons of useful information. Another good thing is you can call them and ask questions and get answers from a real live person. That really helped me learn how all this stuff works.

I eventually went with another company, but at least I had the information I needed so I was able to make the best choice for my business. You will have to look into it yourself and figure out what kind of features you want and need.

But one of the main things is fees. You will want to make sure that you don't get charged excessively, and that is one of the things you will have to make sure you know about, because there's a lot of fees involved.

But with the right amount of effort and time that you put into your search for the right company, you should have no problems finding one that fits your internet business.

Hope this helps.

Good luck.

2009-12-17 12:56:05 by Cliff

Hi does anyone know when barclays update there internet banking.

For example: if a cheque was supposed to clear tomorrow would it show on the internet banking at 12am tonight or like 6am tomorrow, or even at the start of business tomorrow???

cheers

Money moves at midnight I believe.

2009-03-11 12:28:17 by icanseeyoudude