Among households in general, the female head of the household is usually the monthly bill payer. Dataquest's research found that if banks are to widen the appeal of online services and introduce them to mainstream households, they must simplify the process of banking online while allaying fears of paying bills online. Dataquest also found that banks are getting help with changing consumer behavior from credit card companies, stores, telephone companies, and utility companies. Once it becomes familiar behavior, consumers will have less trouble making the transition from account viewing to transferring money among accounts and then to bill paying. The process will be further demystified as digital TV and digital cell phone banking applications become available.
Some banks offer the service for free, and others waive the fee for preferred customers.
Approximately 20 percent of banks have a fee schedule, and only about 10 percent of account viewing households actually pay. Copyright 2001 INT Media Group, Incorporated All Rights Reserved.