Online banking has been around for at least a decade and every year more and more members go online to do their banking. Meanwhile, cost of computers went down and the cost of online banking either went down or was eliminated altogether.
Security is always a concern.
But you will be happy to know about browser encryption technology that protects your account information during transmission. Online systems allow customers to plug into a host of banking services from a personal computer by connecting with a bank s computers over telephone wires. Let us see what it takes to bank online and what benefits come with it. The key requirement for online banking is a modem. Your computer should have at least 8 MB of RAM to run the software that links you to the bank, and 20 MB or more of free space on your hard drive so you can download account balances and other information.