Over the past two years, many bank customers have begun taking advantage of electronic alternatives that literally place banking services at their fingertips. Many banks nationwide operate call centers, providing live operators and automated voice response units, up to 24 hours a day, seven days a week. Using a touch-tone phone, customers can access accounts, apply for a loan, and authorize bill payment. Online banking offers the same services through a person's home computer. Customers use bank-provided software and a commercially available money management program to point and click to pay bills.
Consumers also have the option of banking in cyberspace.
Even the trusty ATM is gaining super powers. The new generation of ATMs sells everything from postage stamps and travelers checks to phone cards and gift certificates. ATM cards have turned into money machines on their own, functioning as debit cards at the gas pump and designated retailers. Despite so many electronic choices, surveys show a mere one to four percent of U.S. households conduct banking transactions online. We're all creatures of habit.