A Short History of Electronic Banking Sample Clauses

A Short History of Electronic Banking. The electronic transfer of money was already offered in 1871 as a service [Western Union 2012]*. However, transmitting money orders through a telegraph relied on op- erators to translate between human language and Xxxxx code. It would take almost 110 years before banking customers could do something similar themselves from the comfort of their homes. Starting from the beginning of the 1980s, it became possible for customers to simply call the bank and talk to an employee through a telephone instead of visiting a branch office [Allchin 2012]*. Customers were capable of managing their account remotely. However, employing call operators to assist customers is expensive. Xxxxx looked at ways to remove the bank employee from the process. The most obvious approach was to let customers interact with a bank computer. Introduced in 1983, PRONTO was the first electronic banking system that did not rely on bank employees to be used by customers. Access to the system was possible with various types of home computers and a modem [Xxxxx 1983]*. Similar systems soon followed. An example is Citibank’s Direct Access, which could be accessed through a Commodore 64 or a phone with an embedded terminal [Xxxxx 2012]*. These pioneers share a technical characteristic, which is that they all relied on proprietary terminal- based software. If a home computer was used, it was little more than a gateway to the user interface provided by the bank’s computer. This changed slowly at the end of the 1980s and during the 1990s. Having a contin- uous connection with a bank through a phone line to conduct banking business was expensive. To reduce costs (and with that, make it more accessible), so-called “home banking software” was developed. Utilizing the increase in processing power, memory, ACM Computing Surveys, Vol. 49, No. 4, Article 61, Publication date: December 2016.
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Related to A Short History of Electronic Banking

  • WASHINGTON’S ELECTRONIC BUSINESS SOLUTION (WEBS). Contractor represents and warrants that it is registered in Washington’s Electronic Business Solution (WEBS), Washington’s contract registration system and that, all of its information therein is current and accurate and that throughout the term of this Master Contract, Contractor shall maintain an accurate profile in WEBS.

  • Internet Banking service by means of which it is possible for the client to exercise various transactions posted by the Bank on the special web page of the bank xxx.xxxxxxxxx.xx (without visiting the Bank), according to the regulations established by the Bank;

  • Electronic Visit Verification ("EVV Provider shall cooperate with State requirements for electronic visit verification for personal care services and home health services, as applicable.

  • Paper Copies of electronic bills If you start receiving electronic bills from a Xxxxxx, the Xxxxxx may stop sending you paper or other statements. The ability to receive a paper copy of your statement(s) is at the sole discretion of the Xxxxxx. Check with the individual Xxxxxx regarding your ability to obtain paper copies of electronic bills on a regular or as-requested basis.

  • Mobile Banking If Mobile Banking is activated for your account(s), you will be required to use secure login information to access the account(s). At the present time, you may use Mobile Banking to: - Deposit checks to your savings and checking accounts. - Withdraw funds from your savings, checking, and money market accounts. - Transfer funds from your savings, checking, and money market accounts. - Obtain balance information for your savings, checking, and money market accounts. - Make loan payments from your savings, checking, and money market accounts. - Determine if a particular item has cleared. - Verify the last date and amount of your payroll deposit. Your accounts can be accessed under Mobile Banking via mobile device or other approved access device(s). Mobile Banking will be available for your convenience 24 hours per day. This service may be interrupted for a short time each day for data processing. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. All checks are payable to you as a primary member and will be mailed to your address of record. We may set other limits on the amount of any transaction, and you will be notified of those limits. We may refuse to honor any transaction for which you do not have sufficient available verified funds. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction and there may be limits on the duration of each access. The following limitations on Mobile Banking transactions may apply: - There is no limit to the number of inquiries, transfers, or withdrawal requests you may make in any one (1) day. - See Section 2 for transfer limitations that may apply to these transactions.

  • Electronic Check Transactions You authorize us to honor any electronic check conversion transaction and re-presented check fee debit transactions you authorize ("Electronic Check Transactions"). You agree that your authorization for an electronic check transaction occurs when you initiate such a transaction after receiving any notice regarding the merchant's right to process the transaction, including any written sign provided by the merchant at the time of your transaction. All terms governing electronic funds transfer services will apply to electronic check transactions, except the $50 and $500 limits of liability for unauthorized transactions in Section 9. You remain responsible for notifying us of any unauthorized electronic check transaction shown on your statement.

  • Electronic Monitoring All observations shall be conducted openly. Mechanical or electronic devices shall not be used to listen to or record the procedures of any class without the prior knowledge and consent of the teacher.

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following:

  • Electronic Visit Verification (EVV). Provider shall cooperate with State requirements for electronic visit verification for personal care services and home health services, as applicable.

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