eLETRONIC BANKING

A detailed Summary of eLETRONIC BANKING

The Electronic Banking Association (EBA) is a non-profit organization established to do one simple thing-help more people get started with electronic banking. Here's why. Who taught you how to write paper checks? Probably your parent's right? Well, who's going to teach you how to write electronic checks? Probably NOT your parents. That's where they come in. E-banking is so much more convenient and so much quicker that everyone should know about it.

The EBA was established as an independent source of helpful information about electronic banking for consumers and businesses. Financial institutions, merchants, and other financial service firms actually provide financial e-commerce services, but the Electronic Banking Association (EBA) monitors progress in the financial e-commerce industry and provides information that will enable users of those services to become better informed and to locate providers of the services they seek.

Everyone hates paying bills. It's time-consuming, frustrating, and you have to lick that awful envelope glue. But not with e-banking. You'll spend less time paying bills, and more time doing fun stuff.

How to set up an online account (You'll need a checking account established with the financial institution first.):

Experts predict it would take a hacker over 2,000 years to crack 56-bit encryption. Yet many financial institutions today require a browser that supports 128-bit encryption, which would take about 12,710,204,652,610,000,000,000,000 years to crack. Now that's secure. (Source: Byte Magazine)

Not when the post office decides to deliver them. Click to see it. Click to pay it. Your bills appear right on your computer screen and look much like the printed bills you are used to getting. But the difference is you can pay them with just the click of a mouse.

You can pay your bills online, so it only makes sense to receive them that way, too. This is called "Electronic Bill Presentment," and more and more businesses are going to offer it.

1. Have important information handy (account numbers, driver's license, social security number, credit card numbers, employer contact info, previous address).

Your computer remembers who you write checks to. You simply enter an amount then point-and-click. You'll never run out of checks again.

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Approximate Word count = 901
Approximate Pages = 4 (250 words per page double spaced)

Category: Technology

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