Online banking is not new to anyone of us.
The beginning of online banking was made way back in the year 1983. Bank of Scotland was the first to bring a system where the residents of NBS were provided 'home link' that worked on the lines of internet banking.
This was achieved by connecting phones to television sets to enable customers to pay bills and transfer money.
Later in 1994, Microsoft brought out a software to enable online transactions with banks. Stanford Credit Union used this system effectively. by the year 2001, 8 US banks were equipped to handle the 1 million users of their online services.
Today online banking is a way of life for most of us. Many rules and regulations have been drafted nationally and internationally to make banking online a hassle-free experience.